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DFI Center Private ‘Kifby’: Thomas Isaac

Finance Minister Thomas Isaac said that the Development Financial Institution (DFI) is being set up by the Center on the model of Kifbi in Kerala. He said in a press conference that it was gratifying and that such an initiative would be needed to raise funds for infrastructure development. But what is in the DFI is the BJP’s privatization agenda. The Union Finance Minister says that although it is now in the public sector, it will be privatized in three years. The central government will have a 26 per cent stake in the future. The Center expects to raise Rs 111 lakh crore. It has been decided that more than 7,000 infrastructure projects will be sanctioned. This is in the hope of getting money in the future‌. Although DFI has a share capital of Rs 20,000 crore, there is no provision for grant every year.

Repayment money should be found from the income from the projects investing in the loan. In this case, investors could be guaranteed at least 20 per cent interest or profit. For this, the user fee will have to be raised sharply and the people will be overburdened. Infrastructure will also have to be privatized. Kifby will always be a public sector entity. User fee will not be imposed on the people. Property will not be privatized. Kifby will only take on projects that can pay off the debt with this amount, Isaac said.

Hunting here; There is no inquiry
Finance Minister Thomas Isaac has questioned why the Center’s Development Financial Institution (DFI) should be exempted from the scope of investigation by agencies, including the CBI.

He said in a press conference that he was responsible as the vice chairman if there was any violation of law in Kifbi. Arrest me if you can. Do not go after the officers with a notice and ride a horse. The move is to arrest someone before the election. That will not happen. Didn’t you realize that Kerala created a model before the country could think? Investigative agencies, which are Modi’s political propaganda tool, are being politically challenged.

Inquiry farce: Live until the election is over. The ED has also moved to arrest some top officials. This will be dealt with legally and by mobilizing the people. The main issue in the election is whether or not to continue the development work that Kifby started. The people will vote for the central agencies and the UDF to support them in sabotaging development.

It is said that the black money will be revealed. Everything has been checked by the RBI‌. How can black money be laundered when the public sector undertaking KYC ensures and accepts money in bonds through banks? Isaac said the Center should make it clear that it intends to hunt down the government-owned Kifbi completely while excluding the DFI from becoming a private entity from the scope of the corruption probe.

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