News Desk
29 September 2025, 11:27 AM IST
Kerala social security pensions funded by ₹44,653 crore borrowings in 6 years, ₹13,000 crore still unpaid
Representational Image | Canva
Thiruvananthapuram: Kerala Social Security Pension Limited, the state-run special purpose vehicle formed in 2018 to channel welfare pensions, has borrowed ₹44,653 crore in six years, according to Finance Department data tabled in the Legislative Assembly. Of this, ₹13,000 crore—including dues to cooperative banks—remains outstanding.
The largest borrowing came from Kerala State Financial Enterprises (KSFE), which lent ₹19,890.69 crore. While ₹16,750 crore has been repaid, about ₹3140.69 crore is still due.
From the consortium of cooperative banks, the company borrowed ₹13,362.33 crore, with ₹7505.81 crore repaid and ₹5856.52 crore still pending.
Other borrowings include ₹5750 crore from the Beverages Corporation (₹1000 crore yet to be cleared), ₹3650 crore from Kerala Financial Corporation (₹1000 crore pending), and ₹2000 crore from the Motor Transport Workers Welfare Fund Board, which is yet to be repaid.
The state government has provided a total of ₹58,341.85 crore to the company for pension distribution and debt servicing. However, as these borrowings count against Kerala’s overall borrowing ceiling fixed by the Centre, the financial burden is constraining the state’s capacity for other public expenditure.
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