Bengaluru: Leader of the Opposition in the Karnataka Legislative Assembly and senior BJP leader R. Ashoka on Friday criticised the State Budget presented by Chief Minister Siddaramaiah, alleging that it imposes a massive debt burden on the people of the state while offering little in terms of real development.
Speaking to reporters, Ashoka said the Chief Minister has pushed Karnataka into unprecedented levels of debt.
“Including this Budget, the Siddaramaiah government has accumulated nearly Rs 4.39 lakh crore in debt, effectively handing the people an empty bowl instead of meaningful development,” he said.
He described the Budget as lacking substance and vision.
“This is a Budget that resembles the proverb ‘borrow and feast’, but without even the flavour. It contains no significant new development initiatives — only plans financed through borrowing. Over the past three years alone, the government has loaded Rs 4.39 lakh crore of debt onto the shoulders of the people of Karnataka. The situation has reached a point where even servicing the interest on this debt will become difficult,” Ashoka said.
He pointed out that the fiscal deficit has touched nearly Rs 97,000 crore and warned that if the current trend continues, the state’s debt could soon cross Rs 10 lakh crore.
“Siddaramaiah has surpassed previous chief ministers by a wide margin in terms of borrowing,” he added.
Ashoka also accused the government of ignoring crucial sectors such as irrigation and urban infrastructure.
“There is no meaningful allocation for irrigation. Despite promising Rs 10,000 crore annually for the Krishna basin projects, the government has delivered nothing but disappointment. The total allocation for all irrigation projects put together is barely Rs 8,045 crore, which is grossly inadequate,” he said.
He further criticised the lack of focus on Bengaluru’s pressing civic challenges.
“The Budget is silent on critical issues such as waste management and pothole-ridden roads in Bengaluru. The city that contributes the highest revenue to the state deserves far greater attention,” Ashoka said.
Ashoka also alleged that North Karnataka has been neglected, noting that the government failed to implement the recommendations of the Govind Rao Committee, which suggested an allocation of Rs 43,000 crore to address regional imbalances.
“Similarly, coastal districts such as Mangaluru, Udupi and Uttara Kannada have received virtually nothing in this Budget. Despite being among the highest contributors in tax revenue, the coastal region has been completely ignored,” he said.
The Opposition leader warned that the government may soon resort to increasing taxes to cope with its deteriorating finances.
“Youth across the state have been protesting over the lack of government job opportunities, yet the Budget offers no concrete solutions. There are also no meaningful allocations for rural roads or special assistance for the Kalyana Karnataka region,” he said.
Ashoka further alleged irregularities in flagship welfare schemes.
“Nearly Rs 5,000 crore under the Gruha Lakshmi scheme remains unaccounted for. The government has also withdrawn the 5 per cent registration fee concession previously available to poor families,” he said.
Ashoka said the Congress government had come to power promising equitable growth under the slogan “equal share and equal prosperity for all”.
“Today, that promise has turned into ‘tax for all and debt for all’. Whenever the government faces public criticism, it simply blames the Union government and tries to mislead people. The same narrative was repeated in the Budget speech instead of presenting an honest assessment of the state’s finances,” he said.
He argued that the scale of borrowing itself exposes the government’s fiscal management.
“Borrowings stood at around Rs 82,000 crore in 2023–24, increased to Rs 1.05 lakh crore in 2024–25, Rs 1.16 lakh crore in 2025–26, and are projected to reach Rs 1.32 lakh crore in 2026–27. In just four years, this government is pushing the state towards nearly Rs 4.4 lakh crore of new debt. The question every Kannadiga is asking today is: Is this borrowing for development, or is the future of the state being mortgaged to fund electoral guarantees?” Ashoka said.
He said the state’s financial condition is becoming increasingly worrying.
“For 2026–27, Karnataka’s total revenue receipts are estimated at around Rs 3.15 lakh crore, but nearly Rs 2.77 lakh crore will go towards committed expenditure such as salaries, pensions and interest payments. That means about 88 per cent of the state’s revenue is already locked into past liabilities,” he said.
He added that the state now faces a revenue deficit of Rs 22,957 crore and a fiscal deficit of nearly Rs 1.1 lakh crore.
“This Budget pushes Karnataka deeper into a debt trap instead of prioritising development and investment,” he said.
Ashoka contrasted the situation with the fiscal discipline maintained during the previous BJP government.
“During the BJP’s tenure, the state maintained fiscal discipline with debt within 25 per cent of GSDP, fiscal deficit within 3 per cent, and in several years even recorded a revenue surplus. Today, the state is being pushed towards a situation where borrowing is required even to meet routine expenditure,” he said.
“The Congress government’s approach reflects debt instead of development, financial indiscipline instead of responsibility, and blame politics instead of long-term vision,” Ashoka concluded.
(IANS)
