Alleging that the Congress-JD(S) coalition government was trying to borrow more money than permitted limit in a financial year, former Chief Minister Jagadish Shettar on Thursday demanded a White Paper on the State’s financial position and borrowings.
Addressing presspersons here, Mr Shettar said the government has already raised funds to the tune of Rs. 1,500 crore through the release of government bonds. “Now they are in the process of raising loans to the tune of Rs. 80,000 crore, which exceeds the limit of borrowing in a fiscal,” Mr Shettar said.
He alleged that the differences within the coalition government were because of a conflict between Chief Minister H.D. Kumaraswamy and his predecessor and coalition coordination committee chairman Siddaramaiah. “At the fag end of his tenure, Mr Siddaramaiah announced several populist schemes and now Mr Kumaraswamy is finding it difficult to mobilise funds for them. That is the reason financial discipline has been ignored and indiscriminate borrowing is being attempted.”