KIIFB: The Development Fuel - Kerala Approved Projects Worth Rs 90,562 Crore Since 2016-17
Thiruvananthapuram, Kerala: The Kerala government recently released data regarding the projects it has completed using the Kerala Infrastructure Investment Fund Board (KIIFB) since 2016-17. State Finance Minister K N Balagopal released the details that the government could achieve a milestone of approving 1,190 projects worth Rs 90,562 crore under KIIFB
KIIFB is a statutory body of the Kerala government that mobilises funds and investment for large-scale public infrastructure projects in the state.
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The announcement was made during the 25th anniversary celebrations of the KIIFB foundation. Established in 1999 and restructured in 2016, the KIIFB has been considered a transformative initiative in the state by being the fuel for driving its development projects.
The initiative funds project in sectors like roads, water supply, energy, and IT, by pushing beyond the budgetary constraints. Evident in key areas, the KIIFB’s transformative nature has been looked at with surprises. The state could overcome several restrictions and roadblocks, including limitations on borrowing from the KIIFB.
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While announcing the data, the state finance minister recalled that the 2016-17 Budget had announced a comprehensive infrastructure development initiative worth Rs 50,000 crore through KIIFB, adding that the works of the statutory body went far beyond, playing a crucial role in developing the state’s basic infrastructure.
According to the minister, Rs 37,388 crore has been spent so far under KIIFB for various infrastructure projects, of which works worth Rs 21,881 crore have been completed, while projects worth Rs 27,273 crore are in progress. He pointed out that as part of the National Highway development, Rs 5,581 crore has been handed over to the center for land acquisition, which accounts for 25 percent of the total land acquisition cost.
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The minister also highlighted key infrastructure developments carried out through KIIFB in sectors such as health, education and industry.
The minister also discarded allegations about KIIFB’s financial sustainability by stating that the board operates with a sound repayment plan. He said there is no question of shutting down KIIFB, underlining that the government has maintained a proper balance between borrowing and repayment and all repayments have been made promptly.
The minister further noted that the government is planning schemes to generate revenue from KIIFB-funded infrastructure. Addressing speculations regarding tolls on KIIFB-developed roads, the minister clarified that no decision has been made so far. However, he admitted, the government is taking steps to improve revenue generation.
