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Karnataka budget: BJP, JD(S) attack Cong govt over ‘rising’ debt burden
‘Is the future of the state being mortgaged to fund electoral guarantees?’ asked Karnataka Leader of Opposition R Ashoka.
JD(S) leader and Union Heavy Industries and Steel Minister H D Kumaraswamy. (File Photo)
Karnataka Leader of Opposition (LoP) R Ashoka slammed the budget presented by Chief Minister Siddaramaiah Friday, contending that the scale of borrowings exposed the government’s fiscal management.
Speaking to reporters, Ashoka noted that while the state borrowed around Rs 82,000 crore in 2023-24, it incurred Rs 1.05 lakh crore as debt in 2024-25, followed by Rs 1.16 lakh crore in 2025-26. The borrowing is “projected to reach Rs 1.32 lakh crore in 2026-27. In just four years, this government is pushing the state toward Rs 4.4 lakh crore of new debt,” he said.
“Is the future of the state being mortgaged to fund electoral guarantees?” he asked.
The Karnataka budget, Ashoka said, contained no significant new development initiatives. “Over the past three years alone, the government has accrued Rs 4.39 lakh crore in debt… The situation has reached a point where even servicing the interest on this debt will become difficult,” he added.
The BJP also staged an ‘empty pot’ protest following the budget presentation.
JD(S) leader H D Kumaraswamy, who is also the Union minister for heavy industries and steel, said the growing revenue deficit and continuous rise in public debt are deeply concerning.
“Borrowing in itself is not the issue, but the question is: what is this debt being used for? If borrowings rise, capital expenditure should rise proportionately. Unfortunately, capital expenditure has remained stagnant for the past three years. Instead, loans are being used for indulgence. Over 140 Congress leaders have been granted cabinet and minister-of-state ranks, funded through borrowed money, leading to unproductive expenditure,” Kumaraswamy said in a post on X.
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BJP Karnataka president B Y Vijayendra stated that the budget lacks any foresight. “The budget by Siddaramaiah has disappointed the people of the state,” he added.
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