The political temperature in Kerala has soared after the Enforcement Directorate (ED) sent a show cause notice to Chief Minister Pinarayi Vijayan concerning the masala bond issuance by the Kerala Infrastructure Investment Fund Board (KIIFB). The ruling Left Democratic Front (LDF) has launched a fierce counterattack, branding the move as a politically timed assault aimed at tarnishing the state's development narrative.
CPM Leaders Decry Election-Time Targeting by ED
CPM state secretary M V Govindan spearheaded the party's response, alleging a clear pattern of harassment by central agencies during election periods. He asserted that the ED's action is not merely a challenge to Chief Minister Vijayan or former finance minister Thomas Isaac, but a direct affront to the people and the developmental aspirations of Kerala as a whole.
Govindan pointed out that similar notices were issued by the ED during previous panchayat, assembly, and parliamentary elections, framing the latest notice as part of a recurring political strategy. He expressed frustration over the agency's silence, noting that Thomas Isaac had repeatedly sought clarifications on the grounds for the notices, both through personal appeals and legal channels, but received no substantive reply from the ED.
KIIFB's Legacy and Alleged Smear Campaign
Defending the financial instrument at the heart of the controversy, Govindan highlighted the transformative role played by KIIFB. He stated that the board has been instrumental in driving development projects worth a staggering Rs 1 lakh crore, significantly elevating Kerala's infrastructure to meet global benchmarks.
However, he lamented that systematic attempts to discredit KIIFB and its funding mechanisms, including the masala bonds, have been ongoing for a considerable time. The current ED notice, according to the CPM leadership, is the latest chapter in this sustained campaign to undermine a successful model of state-led development.
LDF Vows Legal and Political Counteroffensive
Echoing the strong sentiments, LDF convener T P Ramakrishnan confirmed that the front perceives the ED's actions as a continuous and deliberate targeting of the Kerala state government. Ramakrishnan made it clear that the LDF would not take the move lying down and is prepared to mount a robust defense on two fronts.
The coalition plans to counter the ED's legal challenge through appropriate judicial avenues while simultaneously launching a political battle to expose what it calls the Bharatiya Janata Party's (BJP) ulterior motives. The leaders argue that the BJP, unable to make significant electoral inroads in Kerala, is resorting to using central agencies to destabilize the popularly elected state government and its flagship programs.
The issue has rapidly escalated into a major flashpoint between the Left government in Kerala and the BJP-led central administration, setting the stage for a protracted legal and political confrontation in the coming days.
