Chennai, May 4 -- To say the Kerala government's finances are in a mess is an understatement. The state has a litany of woes which successive governments have failed to take head on. Its ability to raise revenue is impaired. Its borrowings are high, and so is its interest burden. It is struggling to create jobs for its educated youth. They are leaving for better pastures. This is adding pressure to the already ageing population, which is fuelling higher healthcare and pension costs.

The pattern of remittances, which account for 20% of the gross state domestic product (GSDP), is changing for the worse. With successive governments failing to take on this litany of woes, its finances have only worsened. "The state's financial position is pi...