Union Minister for Heavy Industries and Steel H.D. Kumaraswamy expressed worry about Karnataka’s state Budget during an event in Mysuru. He highlighted the significant borrowing by the state government, with new loans amounting to Rs 1.32 lakh crore and the total debt reaching Rs 8.24 lakh crore.
Kumaraswamy emphasized the need for the government to go beyond mere statistics in the Budget and focus on fulfilling people’s aspirations. He cautioned the state government to make decisions carefully, foreseeing potential challenges ahead.
Addressing the Women and Child Development Minister Lakshmi Hebbalkar, Kumaraswamy questioned the source of funds for schemes like the Rs 2,000 Gruha Lakshmi assistance. He raised concerns about the lack of capital expenditure and asset creation despite substantial borrowing, urging for prudent financial management.
Kumaraswamy, a former Chief Minister, recalled his successful implementation of farmers’ loan waivers without additional borrowing. He warned about the risk of the state’s financial condition worsening if proper financial planning is not prioritized.
