Thiruvananthapuram | The UDF government on Tuesday announced the formation of a special committee to prepare a white paper on Kerala's financial position, following the first UDF Cabinet meeting chaired by Chief Minister V D Satheesan.

The decision was taken at a high-level meeting of senior Finance Department officials chaired by the chief minister.

According to a CMO statement, the committee will be headed by former Cabinet Secretary Dr K M Chandrasekhar. Additional Chief Secretary (Finance) K R Jyothilal has been appointed as the Convener.

The panel will also include economist Dr Narayana and Centre for Development Studies (CDS) Director Dr Veeramani as members, the statement said.

The white paper is expected to provide a clearer picture of the state's financial health and help guide future policy decisions, the statement added.

The UDF has been alleging that the state's finances were in trouble due to mismanagement under the Left rule, an allegation that was strongly rejected by then Finance Minister K N Balagopal.