25 years of KIIFB
The Kerala Infrastructure Investment Fund Board, known as 'KIIFB', is becoming another golden feather in the success stories of a united Kerala. It is also noteworthy that KIIFB, which provides new ideas and hope in providing infrastructure facilities and creating development activities, is celebrating its silver jubilee at a time when our state is reaching the fullness of its seventies.
It became necessary for us to find new ways for development as time and life changed. We were forced to prepare many new things to accommodate the changes in living conditions. Many things had to be found anew for that. Money and resources became essential for this. The emergence of KIIFB arose from this necessity.
The usual practice was to allocate the capital expenditure required for development, which is essential for the comprehensive development and economic progress of an area, in the budget. However, as the needs of life increased, the budget could not accommodate the money required for infrastructure projects and the proportionate level of investment required for them. When this happened, funds for infrastructure development had to be found outside the budget. This is why the government decided to create a fund for this purpose and enact legislation for it. This includes projects in the areas of electricity, roads, irrigation, ports, airports, water supply, inland transportation, and solid waste management. The Kerala Infrastructure Investment Fund Board was formed for its administration and supervision. The government grants, the amount borrowed by the board for this purpose, and the amount collected by the board were included in the fund.
The quarter century of KIIFB tells the story of how KIIFB came to the rescue of infrastructure development activities when our state was in financial crisis and did not receive the expected income from the centre. The KIIFB initiative is the new way and opportunity that Kerala has found to overcome the economic crisis. The government says that Rs. 90,562 crore has already been spent on infrastructure development with the help of KIIFB. The Rs. 6,000 crore provided by KIIFB has been used to acquire land for the development of National Highway 66. KIIFB has also helped in the construction of about 45,000 high-tech classrooms in the general education sector. The hilly highway and coastal road, which are being completed as a permanent solution to the travel problem, will also lay a strong foundation for our tourism development. The projects implemented with the help of KIIFB are beneficial for the development of Kerala. KIIFB is spreading the sunshine of development in all spheres of social life.
We take this opportunity to congratulate Chief Minister Pinarayi Vijayan for his courageous leadership in this. We also congratulate former Finance Minister Dr. TM Thomas Isaac, who laid the foundation of KIIFB, former Chief Secretary Dr. KM Abraham, who is also the Principal Secretary to the Chief Minister, and Minister KN Balagopal, who are trying to take this process forward with greater vigour. We wish KIIFB to reach greater heights.