HDK expresses concern over State’s borrowings

Union Minister for Heavy Industries and Steel H. D. Kumaraswamy has expressed concern over the borrowings by the State Government and warned Chief Minister Siddaramaiah about the situation turning “miserable” in the coming days.

Participating in the 397th Aradhana of Sri Guru Budiswamy at the Sri Ukkinakante Mutt in Madahalli village in Hunsur taluk on Saturday, Mr. Kumaraswamy said the State Budget was a mere document with statistics that does not serve any purpose.

Cautioning the Chief Minister that that the situation could turn grim in the coming days and that decisions must be taken cautiously. Mr. Kumaraswamy turned to Minister for Women and Child Development Laxmi Hebbalkar, who was also present on the occasion, and raised the issue of ₹ 2,000 paid to women by the Government under the Gruha Lakshmi scheme.

“I have no objection to the ₹2,000 Gruha Lakshmi financial assistance being given to women by your department. I do not oppose that scheme. In the past three years, around ₹70,000 to ₹75,000 crore might have been distributed under this programme. But where are you bringing the money from?” he asked.

He said the State’s total debt has now reached ₹8.24 lakh crore, and the government is planning to borrow an additional ₹1.32 lakh crore this year. “Where is all this borrowed money going? There is no capital expenditure and no government assets are being created. Then what exactly are you doing with all the borrowed money?” he asked.

He asked Ms. Hebbalkar to advise the Chief Minister on the matter. “Please advise your Chief Minister a little. Otherwise, the State’s situation will become miserable,” he cautioned.

Kumaraswamy said he had served twice as Chief Minister for a short period. “When I promised to waive farm loans, many mocked me asking how I would do it without money. Yet, I implemented the loan waiver without borrowing from anywhere,” he said.

Several seers including Shivarathri Deshikendra Mahaswami of Suttur Mahasansthana, Siddalinga Mahaswami of Siddaganga Mutt, and Sambasadashiva Swami of Ukkinakante Mutt graced the occasion.

The others present on the occasion included G. D. Harish Gowda, MLA, C. N. Manje Gowda, MLC, and former MLAs S. R. Mahesh and Ashwin Kumar.