Economic Advisor Highlights Challenges in Karnataka's Development Funding

Karnataka Chief Minister's economic advisor, Basavaraj Rayareddi, noted that substantial allocations to the state's five guarantee schemes hinder funding for developmental projects. During a farmers' meeting, he stated that internal finances are tight due to the Rs 60,000-Rs 65,000 crore needed for these schemes. Opposition parties have criticized this expenditure, but Deputy Chief Minister D K Shivakumar reassures that the government is committed to improving citizens' quality of life.

Karnataka Chief Minister Siddaramaiah's economic advisor, Basavaraj Rayareddi, has highlighted the difficulties in securing funds for developmental works due to substantial allocations for the state's five guarantee schemes.

Speaking at a farmers' meeting after inaugurating a lake project in Mangaluru village, Rayareddi stated, "The Chief Minister has appointed me as his economic advisor, and my daily interactions with him facilitated this funding. Otherwise, it would have been impossible. Our financial commitments to the guarantee schemes amount to Rs 60,000-Rs 65,000 crore."

In response to Rayareddi's remarks, Deputy Chief Minister and state Congress President D K Shivakumar asserted, "There are no difficulties; we are streamlining. We have fulfilled our promises and will continue the guarantee schemes to improve people's quality of life amidst rising prices."

(With inputs from agencies.)