As CM, he borrowed Rs. 39,161.44 crore in 22 months, says State Spokesperson Capt. Ganesh Karnik

Mysore/Mysuru: While Leader of the Opposition in the Assembly Siddharamaiah claims that Karnataka is caught in a vicious circle of debt by increased borrowings every year to meet revenue and capital expenditures, little do people of Karnataka know that it is Siddharamaiah who is the main reason for financial crisis in the State, charged BJP State spokesperson Capt. Ganesh Karnik.

“When he was the Chief Minister, he broke all records in borrowing money. According to information available under RTI Act from Finance Department, the total debt on the State in 2015 was Rs. 1,05,584.23 crore, courtesy Siddharamaiah,” he said, addressing a press conference at BJP Office in city yesterday.

 “The S.M. Krishna Government between 1999 – 2004 had availed Rs. 35,902.30 crore loan and Congress – JD(S) coalition Government between 2004- 2007 led by Dharam Singh and H.D. Kumaraswamy had taken a total Rs. 19,181.69 crore. Later, the BJP Government led by B.S. Yediyurappa, D.V. Sadananda Gowda and Jagadish Shettar had availed the total loan of Rs. 48,476 crore in the five-year term. Siddharamaiah has taken maximum loan in the shortest term and made repayment of Rs. 17,241.07 crore just on interest,” he alleged. Siddharamaiah borrowed Rs. 39,161.44 crore in 22 months.

 This is a poor show by a man who has tabled nine annual Budgets in his career so far and is known for fiscal discipline, Ganesh Karnik said.

“Siddharamaiah has no right to comment on how Chief Minister Basavaraj Bommai is balancing the financial issues as the main reason for Karnataka’s dismal finances is Siddharamaiah. He has to be blamed for the present situation that rose due to Siddharamaiah’s financial discipline,” he said.

 Targeting Congress and JD(S) in equal terms, Ganesh Karnik said that former CM H.D. Kumaraswamy was an opportunistic leader and immature too. “Kumaraswamy’s statements do not carry weight and he is known to give frivolous statements even when he was in the seat of power. Elections are due to be held in 11 months and Karnataka people will choose BJP as they are fed up with Congress and also the opportunistic politics played by the JD(S),” he added.

BJP Rural District Spokes-person Srinivas Gowda, Co-Spokesperson Vasanth Kumar, City Spokesperson Pradeep, Divisional Spokesperson Nagesh and District Media Spokesperson N. Rajkumar were present.