Responding to a document tabled in the Kerala Assembly on Thursday, Union Minister Rajeev Chandrasekhar launched a scathing attack on the previous Left Democratic Front (LDF) government led by Pinarayi Vijayan. He alleged that the CPI(M)-led administration had severely weakened the state's finances, turning the Kerala economy into a 'Ponzi Scheme'.
Fiscal Mismanagement Allegations
Chandrasekhar claimed that the LDF government's policies led to mounting fiscal pressures, leaving the state in a precarious financial position. He accused the former regime of unsustainable borrowing and spending practices that resembled a Ponzi scheme, where new liabilities were taken on to service old debts.
Impact on Development
The BJP leader argued that the fiscal mismanagement under the LDF has hampered Kerala's development prospects. He pointed to rising debt levels and a decline in revenue generation as evidence of the economic distress caused by the previous government's policies.
Chandrasekhar's remarks come amid a broader political debate over Kerala's economic health, with the current government seeking to stabilize finances through reforms. The allegations have sparked a war of words between the ruling and opposition parties in the state.
