Mysuru (Karnataka), March 7 (IANS) Union Minister for Heavy Industries and Steel H.D. Kumaraswamy on Saturday expressed strong concern over the state Budget and questioned how the Karnataka government was utilising borrowed funds.

“The Congress-led government’s new borrowing is Rs 1.32 lakh crore and the state’s total debt now stands at Rs 8.24 lakh crore,” the Union Minister said.

Speaking at the 397th Aradhana of Sri Guru Budiswamiji, the 63rd Pramathara Pooja and the inauguration of a new building at Sri Ukkinakante Mutt in Madahalli village of Hunsur taluk in Mysuru district, Kumaraswamy said merely printing statistics in the Budget document would serve no purpose.

“What will you achieve by showing only statistics? The aspirations of the people must be fulfilled,” he said, warning the state government to take decisions cautiously.

“I want to clearly tell the Chief Minister that the coming days could be difficult. Do not forget that and make decisions carefully,” he added.

Addressing Karnataka Women and Child Development Minister Lakshmi Hebbalkar, who was present on the dais, Kumaraswamy said: “I want to tell my sister one thing. I have no objection to the Rs 2,000 Gruha Lakshmi assistance being given to women through your department, nor do I oppose the scheme.”

He said that over the past three years the government might have spent around Rs 70,000 crore to Rs 75,000 crore under the scheme.

“But where are you bringing this money from?” he asked.

Kumaraswamy claimed that the state’s total debt has now reached Rs 8.24 lakh crore and that the government plans to borrow an additional Rs 1.32 lakh crore this year.

“If you are borrowing such huge amounts, where is that money going? There is no capital expenditure and no creation of government assets. Then what exactly are you doing with all the borrowed funds?” he asked.

He urged Lakshmi Hebbalkar to advise the Chief Minister, warning that otherwise the state’s financial condition could deteriorate.

Kumaraswamy also recalled that he had served as Chief Minister twice for a short period and had promised to waive farmers’ loans.

“Many mocked me saying there was no money and asked how I would waive loans. But I managed to implement the loan waiver without borrowing,” he said.

Shivarathri Deshikendra Mahaswamiji of Suttur Mutt, Siddalinga Mahaswamiji of Siddaganga Mutt and ambasadashiva Swamiji of Ukkinakante Mutt were among the seers who graced the event.

Women and Child Development Minister Lakshmi Hebbalkar, former minister S.R. Mahesh, MLA G.D. Harish Gowda, former MLA and Mysuru Rural district JD(S) president Ashwin Kumar, MLC C.N. Manjegowda and several other prominent leaders were present.

–IANS

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