#KIIFB: Debt under the guise of development!
KIIFB, which was formed with the aim of finding money for Kerala's infrastructure development, is today raising serious questions about the state's financial liabilities. The loans collected through this system, implemented as part of the financial planning of former Finance Minister Thomas Isaac, must ultimately be repaid from the state's income. The reports of the Comptroller and Auditor General also make it clear that KIIFB's loans cannot be separated from the state's actual debt.
Borrowing without ensuring clear repayment planning and financial transparency will affect the financial security of future generations. The public should be clearly aware of the interest and repayment figures on loans, including the Rs 2,150 crore masala bond. If there has been any irregularity or corruption in the masala bond deal, those responsible should be found through investigation and evidence.
The discrepancy between Thomas Isaac's claim that KIIFB has Rs 30,000 crore and the figures put forward by Chief Minister V.D. Satheesan has now led to a new controversy. Chief Minister Satheesan pointed out that as of March 31, 2026, KIIFB's total balance was Rs 10,633 crore, of which Rs 4,128 crore was the government treasury corpus fund and the remaining investment was Rs 6,521 crore. Following this, the media reported that Isaac had corrected the figures in his Facebook post.
In this situation, Isaac has the responsibility to clarify through detailed figures the basis for the claim of Rs 30,000 crore and the actual financial position of KIIFB.
The KIIFB model implemented under the leadership of Pinarayi Vijayan and Isaac's financial decisions should be subject to independent and transparent scrutiny beyond political arguments. Loans can be taken in the name of development; But the amount of that loan and the responsibility for repayment cannot be hidden from the people. To find the 30,000 crores in KIIFB, it is foolish to look in the torn pocket of kurta.

