MYSURU: Chief Minister Siddaramaiah on Saturday said the state budget aims to boost the growth of the entire state and provide equal opportunities to all sections of society. Responding to criticism from the BJP regarding the budget, Siddaramaiah said the country’s total debt has touched Rs 218 lakh crore during the tenure of Prime Minister Narendra Modi.
“PM Modi has also taken loans. Development cannot take place without borrowing. However, the debt taken by the state is within the limits specified under the Financial Responsibility Act,” he told reporters at the helipad in Pillahalli village in Varuna taluk. According to the Act, the debt limit should be 25 per cent, while Karnataka’s debt stands at 24.94 per cent, which is within permissible limit, he said. He added that of the total nation debt, Rs 165 lakh crore was borrowed after Modi assumed office, which comes to 55.6 per cent under the Act.
Responding to criticism by BJP leader R Ashoka that the budget benefits only a particular section, Siddaramaiah said the budget is focused on social justice and aims at the development of the entire state while ensuring equal opportunities for all sections of society.
He also said the state is facing increased financial pressure because the Centre has not released grants that should have been fairly allocated to Karnataka. “The state has suffered a loss of about Rs 10,000 crore due to the revision of GST rates by the Centre,” he added.
On presenting future budgets, Siddaramaiah said he would present the next two budgets if permitted by the party high command. “The decision of the high command is final. Breaking records is not an achievement. However, if people bless me and give me the opportunity, I will certainly fulfil the responsibility,” he said.