India, Feb. 18 -- Presenting Kerala's first budget for the Millenia 2001-02, then Finance Minister K Shankaranarayanan has worryingly said, ' It is with deep humility that I've taken by onerous responsibilities. It would not in the least, be an exaggeration to state that I have been handed down a practically empty treasury. The exchequer bequeathed to me is truly in a woeful state. Even though the state has shown an increase in revenue collections over the years, the state continues its deep financial woes. The root cause of this is gross mismanagement of public revenue over the years and the failure to capitalize on the reforms being undertaken by the center.
Published by HT Digital Content Services with permission from The Sunday Guardia...