K’taka heads towards bankruptcy for the implementation of ‘guarantees’ sans income: Bommai

Bengaluru, Feb 21 (SocialNews.XYZ) Former Karnataka Chief Minister Basavaraj Bommai said that Chief Minister Siddaramaiah has presented the 15th State Budget without focusing on development but spending it on welfare schemes in the name of guarantees.

Any 'Dasoha' (charity) without 'Kayaka' (work) will not usher growth, he added.

Speaking on the State Budget in the Assembly here on Wednesday, Bommai said the Karnataka BJP unit was waiting to see how Chief Minister Siddaramaiah would manage the 15th State Budget.

The former Chief Minister added: "There was a lot of difference between Siddaramaiah 1.0 and Siddaramaiah 2.0. In 1994, he (Siddaramaiah) was the State Finance Minister and it was the deficit budget. At that time, he decreased the plan size, presented the budget and brought in financial discipline. But, Siddaramaiah 2.0 should have mobilised resources for the welfare schemes and implemented five guarantees without affecting the capital expenditure."

"This year, the state government has borrowed Rs 1.5 lakh crore and of which only Rs 1,000 crore goes towards the capital expenditure and this was not at all sufficient for development. Already, the seventh pay commission had been constituted and that would require Rs 20,000 crore if it was implemented. No money has been allocated for this purpose. If the government goes on giving guarantees, where the funds will come from?" Bommai asked.

"In the current dispensation, $2.8 billion FDI has come to Karnataka against $10 billion during the previous BJP government. There had been a drop of 41 per cent in FDI and as many as 31 companies have left Karnataka and went to different places, including Singapore," he said.

"The state's development would receive a setback if the Congress government, without any preparation, spent Rs 54,000 crore in one year. The state would go 10 years back if the development projects were not implemented in two or three years," Bommai added.

"Spending without increasing the revenue collection would not help in development of the state. Under the Griha Jyoti, Bhagya Jyoti schemes, free power was given to below poverty line families and this was not new," he opined.

"The Congress government should have exhibited its commitment and released the relief amount to the farmers of the state. Already, Rs 6,000 crore has come from the Centre and what's the achievement of the Congress government?" Bommai asked.

Bommai said the state government was blaming the Central government over the release of funds to cover up its mistakes.

The state's financial position was very precarious and the Congress government would be blamed if something goes wrong in the coming days, the former Chief Minister added.

Source: IANS