Congress has pushed Karnataka from revenue surplus to deficit, alleges Capt. Brijesh Chowta

Key points

• The three-year Congress rule in Karnataka has pushed the State from revenue surplus to revenue deficit, MP for Dakshina Kannada Capt. Brijesh Chowta alleged here on Wednesday.
• Addressing presspersons, Capt. Chowta said that the Siddaramaiah-led government lacks financial discipline.
• Quoting a report of the Comptroller and Auditor General of India on State Finances for 2024-25, Capt. Chowta said that the report said: “...the introduction of five guarantee schemes in 2023-24 shifted the State from a Revenue Surplus to Revenue Deficit in 2023-24 and 2024-25;
• the deficit is then financed by debt which pushes up the future debt and interest burden, thus creating a loop of indebtedness...” Capt. Chowta said that the report further said: “typically, borrowings should be used to fund development expenditure.
• In 2024-25, only 62.12 % of the State’s borrowings were used for this purpose and a significant portion was utilised to cover the Revenue Deficit and repayment...