Though Kerala has been passing through a phase of slight financial crunch, the situation is not serious and does not warrant issuance of a white paper, state's Finance Minister K M Mani said today.
The prime reason for the situation was the overall recessionary trend prevailing in the country, he said in a written reply to the state Assembly.
The revenue expenditure for 2013-14 was expected to increase by 17 per cent, but a corresponding increase in revenue receipts was unlikely to be achieved, the minister said.
