BENGALURU: Leader of Opposition in Assembly R Ashoka criticised Chief Minister Siddaramaiah for allegedly mismanaging borrowings. Ashoka, in a post on social media, citing central government data, said that a large share of the funds borrowed is usually directed towards capital expenditure such as creating infrastructure that eventually supports long-term economic growth.
“In contrast, Karnataka’s 2026-27 budget, of Rs 4.48 lakh crore allocation, only Rs 74,682 crore has been allotted for capital expenditure. This comes around 17 per cent,” he stated.
He said that the state’s total debt has reached Rs 8.24 lakh crore, with an additional Rs 1.32 lakh crore proposed to be borrowed this year. He said that debt for routine expenditure increases the financial burden on the public. He also said that the CM, who has presented 17 budgets, is aware of this.
“Siddaramaiah understands better than anyone how the state’s financial condition has deteriorated and what its consequences are. He is indulging in self-deception. This is the greatest tragedy of his political career,” he added.