Left's return would harm Bengal, Kerala: Pranab

THIRUVANANTHAPURAM: Accusing the CPI(M)-led governments of mismanaging finances in West Bengal and Kerala, Union Finance Minister Pranab Mukherjee today said bringing the Left back to power would further harm interests of these states.

"They have been an abject failure on several counts of managing the state finances. Now they are seeking continuity in both the states. Bringing them back to power would only harm these states," Mukherjee told a press meet here.

Reeling out statistics of the last few years, he said the track record of Kerala and West Bengal had been quite dismal as far as crucial parameters like debt-DGP ratio and utilisation of plan funds were concerned.

There was no basis to their grievance that they had been neglected by the Centre as the quantum of funds given to them through the 13th Finance Commission had almost doubled from what was awarded by the previous Finance Commission, he said.

The two states also failed to realise the plan size approved by them over these years, he said.

The implications of the under-performance of externally aided projects were far more serious since the country had been paying interest on funds channelled from foreign sources without getting the intended benefits, Mukherjee said.

The figures clearly indicated that the Left's continuance in governance would only perpetuate "backwardness, indebtedness and under development", he said.

The Left could not claim that they lacked administrative experience as they had often been in power in these states.

On the Left's accusation that UPA government was dragging its feet over tracking and unearthing black money, he said as he had explained earlier there were two sides to the issue.

As far as black money remaining within the country was concerned, the Income Tax Department had been conducting raids and unearthing them. But in the case of black money stashed away in foreign banks, the government had certain legal limitations in reaching them, he said.

On Kerala Chief Minister V S Achuthanandan's allegation that black money stashed abroad included those of UDF leaders, Mukherjee said "such fantastic charges" are some times made during the election time.