FRBM hike not enough; need 0.75 percentage point leeway: Thomas Isaac

While the Centre has proposed increasing the Fiscal Responsibility and Budget Management (FRBM) limit for states by half a percentage point of their gross state domestic product (GSDP) to facilitate borrowing, Kerala argues that it will need to be raised by 0.75 percentage points. In an interview with Dilasha Seth, Kerala Finance Minister Thomas Isaac says if the issue isn't settled, states will have to move Supreme Court. Edited excerpts: Although you have asked for seven days’ time to examine the proposal tabled by the Centre on compensation, what is your initial reaction? Do.....

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