Chief Minister Siddaramaiah talking to reporters at the helipad at Pillahalli in Mysuru taluk on Saturay. | Photo credit: MA Sriram
Chief Minister Siddaramaiah on Saturday dismissed opposition allegations that the state is borrowing excessively, saying the debt burden is within the limits prescribed by the Karnataka Fiscal Responsibility Act.
Speaking to reporters at the helipad at Pillahalli village in Mysuru taluk, Mr. Siddaramaiah said Karnataka’s debt stood at 24.94% of the gross state domestic product (GSDP), which is within the permissible limit of 25% set by law.
He said that the GSDP of Karnataka stands at ₹ 33,05,500 crore. “Therefore, the BJP’s allegation that the state government has been borrowing excessively is far from the truth.
He justified the need to borrow to achieve development as long as the debt burden is within limits.
Debts of the center
Referring to the Centre’s borrowings during Prime Minister Narendra Modi’s tenure, Mr Siddaramaiah said the Union government’s debt stood at ₹218 crore, including ₹165 crore borrowed during the last 11 years since Mr Modi took office, adding that the country’s liabilities under the provisions of the Act stood at 55.6%.
He said India’s fiscal deficit is 4.4% while Karnataka’s fiscal deficit is 2.95%, which is within the 3% GSDP limit prescribed by law.
Responding to BJP leader R. Ashok’s criticism that the budget benefits only one section of society, Mr. Siddaramaiah said the budget was prepared with a focus on social justice. “The budget focuses on the development of the entire state and strives to provide equal opportunities to people from all walks of life,” he said.
If there is an opportunity
On whether he would present the remaining two budgets of the government’s term, Mr. Siddaramaiah said he would if the party leadership gave him an opportunity. “The High Command’s decision will be final. Breaking records is not an achievement, but if people bless me and give me an opportunity, I will definitely take up the responsibility,” Mr. Siddaramaiah said.
Published – 07 March 2026 18:17 IST
