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Cong's 2024 budget shows Rs 27,000 cr deficit: Karnataka BJP

Cong's 2024 budget shows Rs 27,000 cr deficit: Karnataka BJP

Bengaluru, April 4 (UNI) The Economic Cell of Karnataka BJP on Thursday said that the budget presented by the current Congress government for 2024 shows a deficit of Rs 27,000 crore, a significant departure from the surplus budget presented in 2023 by the previous Bharatiya Janata Party government led by Basavaraj Bommai.
"Firstly when Basavaraj Bommai presented the budget 2023 February, it was a surplus budget of more than Rs 400 crore. Whereas when Siddaramaiah took over, the budget presented in 2024, it is deficit budget with Rs 27,000 crore. This deficit raises questions about the government's ability to manage finances effectively," GS Prashant, BJP's economic cell member and spokesperson told UNI here.
Criticising the government's inability to meet revenue targets, Prashant said the actual revenue generation has fallen short of projections, indicating a deficit of Rs 14,000 crore. The government's reliance on projected increases in revenue without concrete plans for achieving them is unrealistic, he said.
The government's borrowing has increased substantially, with borrowing exceeding the budgeted amount by Rs 4,400 crore in the previous year, Prashant said. This trend, coupled with plans for further borrowing is unsustainable and indicative of financial indiscipline, he added.
Prashant also stated that the government's financial mismanagement and lack of effective policies are hindering development, particularly in critical sectors like IT and BT (biotechnology). Issues such as water scarcity and increased electricity tariffs are some of the examples of challenges facing industries in Karnataka, he said.
Prashant claimed that both corporate entities and the general public are dissatisfied with the government's performance. Allegations include a lack of tangible actions beyond lip service and failure to address key issues affecting citizens and industries.
Talking about the political implications of the Congress government's financial indiscipline, Prashant concluded predicting electoral success for the BJP in Karnataka soon, citing dissatisfaction with the Congress government as a contributing factor.

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