Chief Minister Pinarayi Vijayan on Sunday rubbished allegations against the Kerala Infrastructure Investment Fund Board (KIIFB).

Inaugurating Kerala Nirmithi, an infrastructure expo showcasing projects being implemented under the aegis of the KIIFB at EMS Stadium here on Sunday, Mr. Vijayan said it was not right to destroy KIIFB by levelling baseless allegations.

Flawless system

“The State is witnessing a flurry of developmental activities. The KIIFB has a flawless inspection system. There is complete transparency in mobilising and distributing funds. The listing of masala bonds in the London Stock Exchange shows that even foreign agencies are showing an interest in the KIIFB,” Mr. Vijayan said.

On the YES Bank crisis, the Chief Minister said that KIIFB had withdrawn its deposit in the bank.

“This shows the alertness and correctness of the KIIFB. The public is showing hardly any interest in allegations levelled against the KIIFB. Our aim is to complete the projects in a time-bound manner,” he said. The State government had undertaken development projects to the tune of ₹54,000 crore in the past four years, the Chief Minister said. “The government has promised to undertake development projects worth ₹50,000 crore in five years. However, we have already taken up projects worth ₹54,000 crore in less than four years,” Mr. Vijayan said. The Chief Minister said 250 projects funded by KIIFB were nearing completion in the State. In Alappuzha, 86 projects worth ₹3,187 crore had been given nod, he said.

Pravasi Chitty

Regarding the Pravasi Chitty and Pravasi Dividend scheme, the Chief Minister said that ₹150 crore had been mobilised through the Chitty and ₹50 crore was received through the dividend scheme in two months.

Mr. Vijayan said that the government’s development policy was based on social justice.

“All sections of society should be able to taste development. The government has developed educational institutions, health centres and other hospitals utilising KIIFB funds. In the industrial sector, the government is providing all help including to industrial parks,” he said.

The expo will conclude on Tuesday. Finance Minister T.M. Thomas Isaac presided. Food and Civil Supplies Minister P. Thilothaman, Public Works Minister G. Sudhakaran and others were present at the function.