BENGALURU: Terming the July 2023-24 budget as a "guarantee Budget", Karnataka chief minister Siddaramaiah on Friday said the government had to go for increased borrowings on account of the fiscal indiscipline by the previous BJP government and partially to fund the five poll guarantees.
Speaking to the media after presenting a record 14th budget, Siddaramaiah said: "The total requirement for our five poll guarantees is at Rs 35,410 crore for this fiscal. These five guarantees have pushed us into deficit due to the previous financial indiscipline. But with the increased tax collection targets to generate additional Rs 13,500 crore, another Rs 8,000 crore from borrowings and rest from other sources we will be able to meet the financial requirements for the fiscal to service the poll guarantees."
