Thiruvananthapuram, Dec 8 : A public activist has petitioned Kerala Governor Arif Mohammed Khan for declaring "financial emergency" in Kerala as enabled in Article 360 of the Constitution of India. R.S.Sasikumar pointed out that the financial position of the state as of now is precarious and beyond redemption as the state has exceeded its borrowing power. The outstanding payments are due to government contractors, the state-owned SUPPLYCO which does market intervention, UGS arrears to college teachers, DA arrears to state government employees and the state-owned Kerala State Road Transport Corporation is in dire straits. Kerala Ministers, including the Minister of Finance, are engaged in a campaign against the central government making allegations of suffocating the state's economy and calling for a fight against the Central government, he added. "This is bound to have serious political consequences. Most of these allegations are false and the state has in fact received more funds from the central government in recent years than what the state had anticipated in the budgetary allocations," read the petition. As per the budgetary expectations, the central allocation estimated for the year 2020-2021 was Rs 32628 crore. But the actual central allocation for the year was Rs 42628 crore. Similarly, as per the budgetary expectations for the financial year 2021-22, the expected central allocation was 44811 crore. But the actual allocation was 47837 crore. Thus, it is clear that the financial allocation was not cut down, by the central government. "The state of Kerala is going through this grave fiscal crisis because of the extravaganza of the ministers and complete lack of planning. Inefficient fiscal management and utter failure in revenue mobilization emptied the state treasury," said Sasikumar. "Unless, remedial measures are taken, the future of the State will suffer which cannot be remedied through short visioned schemes. If it is allowed to continue, redemption may not be possible. As such, Your Excellency is requested to recommend for a proclamation as provided under Article 360(1) of the Constitution of India, in the larger interest of the people of the State." "Any delay in making a declaration under Article 360(1) of the Constitution is likely to lead to a situation where the helpless common man will be led to committing crimes even for their survival. As such, your Excellency has a constitutional obligation to safeguard the interest of the citizens by making appropriate recommendations to the President of India," reads Sasikumar's petition. Khan, according to sources, has taken a serious note of the things, as he himself has on a few occasions pointed out the piquant financial position and hence all eyes are on Khan on how he takes up this. /IANS