We are ending up as losers for following financial discipline: Karnataka Minister

Belagavi (Karnataka), Dec 18 (PTI) Karnataka Revenue Minister Krishna Byre Gowda on Thursday said the state is ending up as losers for following financial discipline.

The minister, who presented the Karnataka Appropriation Bill of Rs 6,279.87 crore, reminded the Centre not to overexploit Karnataka, which is a "golden goose".

During the discussion on the bill, which was later passed by the House, the Leader of Opposition BJP R Ashoka pointed out that the revenue deficit was 2.95 per cent, which was touching the border line of financial crisis.

Gowda, who presented the bill in the House on behalf of Chief Minister Siddaramaiah, dismissed the fear saying that the revenue deficit was well within three per cent as prescribed by the Fiscal Responsibility and Budget Management (FRBM) Act.

The minister noted that many states in the country indulged in "indiscriminate borrowings" as they overlooked the FRBM Act.

He pointed out that those who respect the FRBM Act, mainly the southern states, are punished, while those ignoring it are rewarded by the Centre.

"We are ending up as losers for following the financial discipline," the minister said, adding that most of the southern states are the victims of this discrimination.

The government said the money is needed for defraying the several charges, which will come in the course of payment. PTI GMS GMS KH