Kerala CM asks Union FM to give grant for Vizhinjam port unconditionally

Kerala Chief Minister Pinarayi Vijayan has urged Union Finance Minister Nirmala Sitharaman to release the Centre's share of Rs 817.80 crore in the Viability Gap Funding (VGF) for the Vizhinjam seaport here without imposing the condition that the state has to repay it later.Vijayan, in a letter to the FM, said the condition imposed by the Empowered Committee constituted by the Department of Economic Affairs, that the VGF amount should be repaid by Kerala in Net Present Value (NPV) terms by way of premium (revenue) sharing, would result in a huge loss of Rs 10,000 to 12,000 crore to the state exchequer."The state is investing resources to the tune of Rs 5,595 crore out of the total project outlay of Rs 8,867 crore. I am sure, the Hon'ble Minister would appreciate that given the financial situation of a small state, like Kerala with limited financial resources, this scale of investment involves tremendous sacrifice on the part of the state."In addition, as the repayment of Rs 817.80