Govt is not bankrupt: Kumaraswamy

Govt is not bankrupt: Kumaraswamy

Chief Minister H D Kumaraswamy has said that the loan waiver scheme has not bankrupted the government.

He was speaking after the launch of the Brand Mangaluru campaign organised by the Dakshina Kannada Working Journalists’ Association on Sunday.

Kumaraswamy said that the state treasury has Rs 10,000 crore in current account. “The government has decided to borrow Rs 40,000 crore from various sources, but cannot seek permission from the RBI to avail of loan without utilising the amount in the current account,” he explained.

“Officials have been given a free hand to take up development works. They are not adjusting to my pace of development, with an assumption of political instability in the state. The Opposition have been issuing statement on the collapse of the coalition government and have even fixed the Muhurtha of Deepavali as the day of collapse of the government. The government, however, is stable,” the chief minister insisted.

Speaking on by-elections, Kumaraswamy said, “The Congress has decided to leave Shivamogga constituency to the JD(S) to contest. Accordingly, I will direct Madhu Bangarappa to file his nominations.”

On an allegation of illegal sand mining by his own party members, the chief minister said, “The illegality has been brought to my notice. I have asked the officials to look into the matter and submit a report on it. More than my party workers, I do not wish to cause any harm to the environment. Looking at the officials’ report, action will be initiated.”