BENGALURU: Chief Minister Siddaramaiah on Tuesday rejected BJP state president BY Vijayendra’s demand for a white paper on Karnataka’s finances, calling it a reflection of “poor understanding of economics and political frustration”.
In a press statement, the CM said the recently presented state Budget itself serves as a transparent account of finances, having been debated and approved in both Houses. “If doubts remain, I am ready for clarification or even an open debate,” he added.
Dismissing claims of bankruptcy, Siddaramaiah asserted that Karnataka remains economically stable, with no issues in salary payments and a peaceful governance environment.
He also pointed out that the state Budget stands at Rs 4.48 lakh crore, up 9.4% from last year and mentioned that Karnataka’s GSDP growth of 8.1% exceeds the national GDP growth of 7.4%, while fiscal deficit remains within the 3% limit and liabilities at 24.94% of GSDP. The CM also accused the Union government of “stepmotherly treatment” towards Karnataka through reduced tax devolution and discontinuation of GST compensation, leading to significant revenue losses and a deficit since 2023-24.
“Despite these challenges, we have maintained that the state’s economy is stable and growing,” he added.
Siddaramaiah further criticised BJP governments for higher debts and weaker fiscal management, urging Vijayendra to “do homework before making statements”.