Thiruvananthapuram, June 5 -- The white paper presented by the newly-installed UDF government on the floor of the State Assembly on Thursday presents a critical assessment of the state's fiscal position at the end of two consecutive LDF terms.

According to the report, the state's outstanding liabilities were at Rs.5.07 lakh crore in 2025-26 budget estimates. But the more useful way to read the number is in relation to the size of the state economy. The report's own data shows that Kerala's debt burden rose from 29.37% of GSDP in 2016-17 to 33.22% in 2025-26 RE, after touching 38.51% during the Covid-19 year of 2020-21. This means the debt ratio has eased from its pandemic peak, even though it remains above the state's fiscal responsibili...