Contributions
As finance minister of Kerala state, he initiated a lot of reforms that uplifted farmers of the state. When he was the electricity minister, he introduced 'Light Revolution' which brought electricity to a massive number of households. He did a lot for the development of Kottayam and Idukki districts. He advocates 'toiling class' theory which is for the liberation and upliftment of lower middle class through progressive reforms and taxation policy. His 'toiling class' theory negates 'class struggle' whereas it stands for 'class collaboration' According to Mani, 'toiling class' theory is an alternative to socialism and capitalism. In a recent seminar organized by Centre for Reform and Research, he stated that "left parties cannot resist global changes".
He is the author of Fiscal Problems of Kerala-Causes and Remedial Measures, The People's Socialism and The Eighth Five Year Plan-An alternative approach.
Read more about this topic: K. M. Mani