CM hits back at Ashok over debt remarks

NT Correspondent

Bengaluru: Chief Minister Siddaramaiah hit back against Leader of the Opposition (LOP) in the Assembly R Ashoka for commenting on the debt that is being incurred by the state.

The CM pointed out that Karnataka’s debt level complied with the Financial Responsibility and Budget Management (FRBM) Act.

He added that the debt accumulated by the Union government had also been skyrocketing.

“Your concern regarding the state's debt is noted. However, it is essential to highlight that our administration has diligently ensured our debt levels remain compliant with the FRBM Act. Despite projections suggesting a potential increase in debt to over 1 lakh crore for the upcoming financial year, we remain within the permissible 25 per cent of the state GSDP (Gross State Domestic Product) threshold,” he said.

“Contrastingly, the Union Government, under the leadership of Narendra Modi, has escalated India's debt burden by over Rs 128.67 lakh crore from 55 lakh crore to 183.67 lakh crore since 2014. This staggering figure translates to an additional debt of approximately Rs 92,000 per Indian, primarily attributed to policies enacted during this period,” he added.