Wednesday, June, 03,2026

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Pinarayi Vijayan refutes "debt trap" claim for Kerala, says State moved ahead despite "financial blocks" by Centre

Kollam: Kerala Chief Minister Pinarayi Vijayan on Monday strongly dismissed the narrative that the state is in a "debt trap," asserting that under the LDF-led government, Kerala has achieved unprecedented economic growth over the last decade despite severe financial constraints, natural disasters, and alleged neglect by the Central government.
The Left Democratic Front (LDF) is approaching the upcoming April 9 Assembly election with immense confidence, Vijayan said, adding that the party will seek a mandate for a third consecutive term to ensure that the foundational work they have laid for a 'New Kerala' reaches its completion. "The party has decided that I will contest once again from the Dharmadom constituency," he said.
"One thing I can say with confidence about Kerala is that no matter how severe the crisis, the state will continue to move forward without faltering. Over the past decade, even while facing major challenges like floods, pandemics, and financial constraints, we have been able to carry forward both development and welfare together. This has been possible due to clear direction in governance and consistent policy decisions," Vijayan said.
Addressing a press conference in Kollam district, Vijayan said Kerala was in a financially weak position during 2011-16. "It was from that situation that the LDF government began its work in 2016. The progress we see today is a continuation of that effort. The state's GSDP (Gross State Domestic Product) itself is proof rising from ₹3.24 lakh crore in 2010-11 to ₹14.27 lakh crore today. Such growth within a decade is not ordinary," he said.
He further clarified that public expenditure has also seen a significant rise from an average of ₹68,000 crore during the United Democratic Front (UDF) period to over ₹1.75 lakh crore now. Last year alone, ₹1.74 lakh crore was spent, and this year it is expected to reach ₹1.92 lakh crore. This is not mere spending, but a balanced investment in both development and welfare.
More importantly, Vijayan said that most of the borrowing is used for development-oriented investments that will generate future income.
"The debt-to-GSDP ratio has come down from 38.47 per cent in 2021 to 33.44 per cent now, which reflects prudent financial management. Therefore, claims that Kerala is in a financial crisis are politically motivated and not based on facts," Chief Minister Vijayan said.
Kerala today has a strong economic foundation, robust revenue capacity, controlled debt, and the ability to withstand crises. This progress did not happen overnight. It is the result of the LDF's clear vision and the continuity of governance from 2016 to 2026, stated the Chief Minister
Vijayan also hit out at the Central government, alleging that its policies have caused a revenue loss of nearly ₹2.5 lakh crore over the last five years.
"If the state had received its rightful share from the Centre and had been allowed adequate borrowing, Kerala could have moved forward without any financial stress. That is what the experience of the past decade shows," he said.
Detailing the revival of traditional industries, the Chief Minister said that the LDF government rescued the cashew, coir, and handloom sectors from the brink of collapse.
"Before 2016, Kerala's traditional industrial sector was facing a severe crisis. Factories were shutting down, and workers in sectors like coir, handloom, and cashew were not receiving fair wages or benefits. The previous UDF government failed to modernise these industries or find new markets for their products.
However, over the past ten years, the LDF government has adopted policies that protect both traditional industries and workers. We prioritised modernisation and diversification of products. After assuming office in 2016, steps were taken to reopen closed cashew factories. Following the formation of the Kerala Cashew Board, ₹334.31 crore was allocated to import 93,774 metric tonnes of raw cashew. Around ₹84 crore, including pending dues, was distributed as gratuity to 7,516 workers.
"We also implemented a one-time settlement scheme to support indebted entrepreneurs and revive factories. In the handloom sector, ₹691 crore was spent on the free school uniform scheme between 2016-17 and 2025-26. Additionally, ₹107.06 crore was provided as a rebate and income support was extended to 16,727 weavers. A Cotton Board was formed, and special allocations were made to revive Hantex". Hantex is the apex body of primary handloom weavers' co-operative societies in Kerala, which was established in 1961.
"In the coir sector, ₹1,243.65 crore was spent over the last decade. Measures like income support, price stabilisation funds, and fibre bank schemes strengthened the sector. We expanded exports to international markets, including the US and UK, through online platforms and ensured insurance coverage for workers," Vijayan said.
"In the Khadi sector, ₹266.25 crore was given as income support and ₹46.56 crore as incentives. Efforts were also made to expand exports. In bamboo and handicrafts, we strengthened the Bamboo Corporation and set up incubation centres and bamboo bazaars, improving both marketing and employment opportunities. These interventions have not only improved the livelihoods of workers but also strengthened Kerala's economic base," he said.
Highlighting the upcoming elections, the Chief Minister urged the people to rely on evidence rather than "baseless propaganda."
"Ultimately, the question before the people in this election is whether to move forward based on evidence and facts, or to believe baseless propaganda. The people of Kerala have consistently supported us over the last ten years, and we expect that support to continue," he said
"We believe in the wisdom of the people. They know who stood by them during their darkest hours. They know who is working for the future of their children. We are ready for the battle, and we are confident that the people of Kerala will choose progress over communalism and stagnation," the chief minister said.
On Sunday, Prime Minister Narendra Modi, during an election rally in Palakkad, highlighted the alleged debt crisis of Kerala. He accused both LDF and UDF of selfish politics that he said crippled the state's finances.
Addressing the March 29 rally in Palakkad, PM Modi pointed out that Kerala's debt has more than tripled in two years to over Rs 5 lakh crore. "The Kerala government is now burdened with a debt of over Rs 5 lakh crore. This debt has more than tripled in two years. The people of Kerala are asking, "What is the share of this money earned by the people?" The answer is the same. When the NDA government comes to power, this money will go into the pockets of our own people, and will be used for the development of the people of Keralam... For the last 10 years, no new industrial project has been started to provide employment to the people of the state," he said.
The press conference ended with a ruckus, with some journalists expressing their ire over Vijayan not taking their questions.
Meanwhile, on April 9, the date when Kerala goes to the polls to elect legislators for its 140-seat Niyamasabha, Pinarayi Vijayan will seek a mandate from the Dharmadam constituency in Kannur for the third time. He had previously contested thrice from Kuthuparamba, winning in the Assembly polls of 1970, 1977, and 1991. Previously, he was elected from Payyannur in 1996.
The United Democratic Front has fielded Youth Congress State general secretary VP Abdul Rasheed, and the BJP has fielded K Ranjith as their candidate in the Dharmadam constituency for the 2026 Assembly elections.
Dharmadam is one of the seven assembly segments that constitute the Kannur Lok Sabha constituency. The eleven assembly constituencies in Kannur comprise Thaliparamba, Irikkoor, Azhikode, Kannur, Dharmadam, Mattannur, Peravoor, Payyannur, Kalliassery, Thalassery and Kuthuparamba.
Counting of votes will be held in Kerala on May 4.

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Daily Astro

03-06-2026

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Aries

Ganesha says it will be an important day for you, Aries. Your energy and confidence are ready to take you to new heights. Today you will be able to express your thoughts with clarity, which will increase your communication skills. New opportunities may arise in the working areas, which you have to be ready to take advantage of. In social life, you can make new meetings, which will prove beneficial for you in the future. This day will be good for solving family issues, and you will be able to establish better relations with your close ones. In the field of health, take care of your routine and resort to yoga or meditation to relieve mental stress. Controlling your expenses will be a smart move, as any sudden financial need may arise. Overall, this day is for you to stay positive, just use your insight and energy properly.

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Pisces

Ganesha says it is going to be a positive day for you. Your sensitivity and intuition will flourish today, allowing you to establish better connections between yourself and others. It is time to connect with someone or refresh old memories. Try to communicate with people close to you, as it will strengthen your relationships. In the field of work, your creativity will be cyclical today. If you are working on a project, your ideas will be new and full of innovation. Do not be afraid to share your ideas, it will give you positive feedback from your colleagues. In terms of financial condition, avoid any big investments. Small expenses will prove to be justified but think well before making any big decisions for the long term. In terms of health, focus on a balanced diet and regular exercise. For mental health, practicing meditation or yoga will help keep you stress-free.

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Aquarius

Ganesha says new opportunities are likely to open up for you. You will be in a position to take your creative abilities to new heights. This is the time to share your ideas and make new plans. Your friends and family will support your ideas, so it will be beneficial to take their advice into account. Positive changes are possible in business. This is the right time to work on an important project. You will get an opportunity to use your skills and knowledge properly. But, be careful; in some cases, you will need to control your emotions. In personal life, relationships will deepen. You will try to spend more time with your loved ones. This is a good time for love and companionship. Enjoy emotional moments that will make your relationships stronger. Be health conscious. Dedication to yoga and meditation will give you mental peace. These activities will keep not only your body but also your mind active. Overall, today will be full of possibilities for you. Stay committed to your dreams and work on them.

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Capricorn

Ganesha says your day is full of some new possibilities. You will experience grace and stability in your actions. This is the time to focus on your goals and work with determination to pursue your plans. You are likely to get success in your work, especially if you maintain your hard work and dedication. Positive changes can also be seen in your relationships. You will get a chance to spend time with family and listen to them, which will increase mutual understanding and depth. Focus on communication, as it will make your relationships stronger. However, it is also time to make monthly plans. Take care of your financial matters and try to save. This is the time when you can take concrete steps for your future. Your health condition is likely to remain normal but take some rest. Maintaining a mental balance will be important for you. Stay positive and keep faith in your actions!

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Sagittarius

Ganesha says today will be full of new possibilities and positive energy for you. You will feel a rise in your confidence, which will keep you open to new opportunities. This is the right time to make an important decision. Your spirituality and intuition will be strong, which will enable you to understand and face difficulties. Spending time with friends and family will awaken a sense of happiness and satisfaction in your mind. Relationships with colleagues at work can take a new direction. Cooperation and communication will help solve problems. If you face an obstacle or challenge, remember that you can overcome it. In terms of health, you may need to make a little improvement in your routine. Regular exercise and a balanced diet will give you freshness and energy. Strengthening social relationships and contacting new people will also be beneficial today. This is the time for self-growth and positive change for you, so recognize the energy within you and use it properly.

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Scorpio

Ganesha says today will be full of enthusiasm and energy. You will move towards achieving your goals, and your hard work will pay off. Social life will also be active; you will get a good chance to spend time with friends and family. In terms of health, take a little caution. Focusing on meditation and exercise will help reduce mental stress. This is also a good time to take up a new hobby, which can unleash your creativity. Take wise steps in terms of money. Make informed decisions while investing. For potential financial gains, take a look at past projects again. Your career is showing good signs of progress. Your ideas may be appreciated at the workplace, which will increase your confidence. Still, some issues may require restraint. Overall, today will prove to be positive and auspicious for you. Spend it with pride with your loved ones.

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Libra

Ganesha says today will be a very auspicious and positive day. You will get a chance to clarify your thoughts, which will bring stability to your personal and professional relationships. Your communication skills will increase, and this will open the doors of new possibilities for you. Your creativity and aesthetic sense will be especially strong today. If you are associated with any art or design, your work will be appreciated. This is the right time to express your feelings. If you are confused about a decision, trust your intuition; it will show you the right path. In terms of health, small changes can make your life better. Focus on regular exercise and a balanced diet. In love and relationships, a new understanding will develop, which will strengthen the mutual bond even more. Overall, this day is a sign of positive changes and new beginnings for you. Stay focused on your goals and recognize your inner strengths.

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Virgo

Ganesha says today is a suitable day to highlight your cognitive abilities and business skills. Today, you will be full of clarity and precision in your actions, which will increase your value among your colleagues and superiors. There is a possibility of bringing some changes to your routine, which will bring positive results for you. This is a good time to improve relations with family members. Try to resolve any old disputes, and keep communication open. In terms of health, meditation and yoga will bring mental peace. Also, take some time out of your routine for exercise. From a financial point of view, this is the right time to make a good plan for the right investment. Take a good look at the options available to you and make a wise decision. Overall, today will prove to be a day of new possibilities and positive changes for you. Be full of confidence and stay focused on your goals.

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Leo

Ganesha says today will be a day full of energy and inspiration. Your confidence will increase and your thoughts will come out with clarity. On this day, you will be able to see some new possibilities in your career, which will bring you hard work. Mutual understanding and harmony will increase your relationship, which will create a happy atmosphere among the family. This is a great time to express your thoughts clearly, so do not hesitate to communicate with your partner or friends. It is important to be health conscious, a little exercise and meditation will maintain your mental and physical health. Overall, this day will bring activity and positivity for you, so make the most of all the opportunities!

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Cancer

Ganesha says it will be a day of information and communication for you. Your mind will be full of ideas and you will be able to express your ideas well. There is a possibility of some new opportunities in professional life, which can prove beneficial for you. It is a good time to strengthen relationships with your colleagues, so work together at the workplace. Your emotional state will also be strong. Time spent with family will give you satisfaction. If you have any old problem going on, then the right time is coming to solve it. However, you need to keep your emotions under control, so that you do not get agitated over small things. In terms of health, try to practice yoga and meditation. It will empower you both mentally and physically. Take informed decisions in financial matters; do not rush into any investments. In summary, this day will be all about communication and cooperation, which will lead to positive changes for you.

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Gemini

Ganesha says there will be a new energy and freshness in your thoughts, which will make your personality even more attractive. Social contacts are likely to increase, which will expand your network. You will be inspired to spend blissful time with your friends and family. Some positive changes can also be seen in the business sector. The results of your hard work will gradually start coming, and this will motivate you to move forward. Keep in mind that while sharing your ideology, work with empathy, this will strengthen your relationship with colleagues. It is important to be health conscious. A little attention and relaxation will give you mental freshness. Practicing yoga or meditation will be beneficial for you. This day will be full of positivity and new possibilities for you. Express your mind openly and do not hesitate to adopt new ideas.

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Taurus

Ganesha says it will prove to be a positive day for you, Taurus. You will feel energetic and full of confidence. The time has come to reap the fruits of your hard work and efforts. The workload may stress you for a while, but you will face all the challenges recognizing your strengths. Sweetness will also remain in your relationships. Spending time with your family and friends will be a source of joy for you. Conversation with someone special can give you a new vision and promote mutual understanding. A special occasion may be organized among friends or family, which will bring happiness and harmony to you. Moments spent with loved ones will give you mental peace. It is important to be health conscious. A little exercise or yoga will give peace to your mind and energy to your body. Your day will be full of happiness and positivity, just keep your thoughts and emotions balanced.

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03-06-2026