Karnataka Budget: Congress regime resorts to borrowing to sustain guarantee schemes

[andhra_jp]

Chief Minister Siddaramaiah on Friday presented a budget projecting a revenue deficit of Rs 27,353 crore for the year 2024-25, relying on borrowings to sustain the Congress party’s five ambitious guarantees as the Lok Sabha polls are due by May.

His party's guarantee schemes, the CM asserted, were not an election gimmick. “They are the result of the feedback obtained during Bharat Jodo Yatra (led by Rahul Gandhi).”

“I am confident of achieving a revenue surplus after the next two years..” the CM said in his budget speech, while defending the Congress party’s election guarantees. These five schemes, he added, had helped each eligible family in the state get between Rs 50,000 and Rs 55,000 worth of benefits a year. 

Former BJP Chief Minister Basavaraj Bommai said Siddaramaiah was pushing Karnataka into a debt trap and an eventual bankruptcy while the state's development was far-fetched. This was the worst budget Karnataka had ever seen in its history, he said, adding that the CM and the Congress were betting to turn Karnataka into a Venezuela.

https://economictimes.indiatimes.com/news/india/karnataka-budget-cong-regime-resorts-to-borrowing-to-sustain-guarantee-schemes/articleshow/107758952.cms

[maverick19]

congress mukt bharat.