NABARD slashing credit limits led to excessive microfinance borrowings: Siddaramaiah

Mysuru: Chief Minister Siddaramaiah attended the Adi Jagadguru Sri Shivarathreeshwara Shivayogi Jathra Mahotsava (Suttur Jathra) this morning. The six-day mega event, which began on Jan. 26 at Suttur Sri Kshetra in Nanjangud Taluk, concludes this evening.

The CM arrived by chopper, landing at the helipad near JSS Krishi Vigyana Kendra (behind Sri Veerabhadreshwara Temple). He is participating in the valedictory ceremony of the Cultural Fair and Exhibition. Upon arrival, Siddaramaiah received a traditional Poorna Kumbha welcome and was led to the Gaddige of Adi Jagadguru Sri Shivarathreeshwara Shivayogi, where he offered prayers.

Political targeting

Speaking to reporters at the helipad, the CM lashed out at the Enforcement Directorate (ED), accusing the agency of deliberately targeting him in the Mysuru Urban Development Authority (MUDA) case in an attempt to tarnish his image.

“Is the Lokayukta’s investigation not independent? The ED is engaging in political manoeuvres. Their report is only a seizure report — where is the evidence of money laundering? Even the Court has stated that this does not constitute money laundering,” he said.

He further alleged that ED’s actions were politically motivated and aimed at targeting him because he is the Congress Chief Minister.

Microfinance crisis

On the microfinance crisis in Karnataka, Siddaramaiah blamed the National Bank for Agriculture and Rural Development (NABARD) for slashing the State’s credit limit by 58% compared to last year. “The drastic reduction in the sanctioned loan limit has forced farmers to become excessively dependent on microfinance,” he maintained.

Later addressing the gathering at Jathra Mahotsava, the CM said, “Do not take extreme steps due to harassment by microfinance institutions. The Government is with you. If you face any trouble, file a complaint and we will take legal action,” he assured.

Basavanna’s principles

Siddaramaiah called on society to recognise that Basavanna’s ideals are deeply embedded in the Constitution. He emphasised that the Constitution’s primary objective is to build a secular society, aligning with the aspirations of Basavanna and other revered saints. Urging people to abandon caste and religious discrimination and superstitions, he stressed the need to embrace Basavanna’s vision.

He noted that while India has achieved political independence, economic and social freedom remain elusive. Basavanna, 850 years ago, declared, “Do not ask if he is ours, ask if he is human.” Yet, even today, caste continues to define social interactions, perpetuating discrimination and division.

God and hunger

Siddaramaiah lamented that even the educated adhere to the doctrine of karma, believing that poverty, hunger, and hardship are preordained by divine will. “No God determines someone’s fate to be poor or hungry, yet the educated continue to practice such superstitions. How can such education be respected?” he questioned.

CM Siddaramaiah reiterated that the Constitution rejects caste-based discrimination, affirming that talent and capability belong to all and that equal opportunities must be ensured. Given the right opportunities, “everyone’s talent will shine, and education must reach all,” he said.

Praising the Suttur Mutt, he commended its role in providing education and food, calling it “an asset to society.” He also lauded the secular values upheld by the Mutt. “Both work and service were the aspirations of Basavanna and other saints. Work means production, and service means distribution,” he explained.

The event was graced by Suttur Seer Sri Shivarathri Deshikendra Swamiji, Sri Bhuvanakeerthi Bhattaraka Swamiji of Kanakagiri Jain Mutt, Sri Siddalinga Mahaswamiji of Siddaganga Mutt and other leaders.

Mysuru District Minister Dr. H.C. Mahadevappa, Law and Parliamentary Minister H.K. Patil, former Ministers H.M. Revanna, S.T. Somashekhar, MLAs H.M. Ganesh Prasad, K. Harishgowda, D. Ravishankar, Darshan Dhruvanarayan and MLCs Madhu G. Madegowda and K.P. Veerendra Pappi were present on the occasion.