Karnataka financial position deteriorating:Siddaramaiah

Gulbarga, July 29 (UNI) Former Karnataka Deputy Chief Minister Siddaramaiah today alleged that the financial position of the State is deteriorating due to misadministration by the Janata Dal(Secular) and Bharatiya Janata Party coalition government.

Talking to newsmen here, Mr Siddaramaiah said that expenditure on the development expenditure has came down to 0.5 per cent from 37 per cent in 2003-04. ''The government has last control over financial management and it may lead to bankruptcy of the state exchequer''he feared.

Mr Siddaramaiah lamented that lack of proper mobilisation of funds resulting in curtailment of fund allocation to the agriculture and power sectors. The coalition government had failed in making separate allocation of funds to the backward areas as recommended by the Nanjundappa Committee on Regional Imbalance.

Stating that government should find ways to mobilise funds, Mr Siddaramaiah accused the state government of colliding with Realtors and selling precious 1100 acres of land for a meager Rs 301 Crores when its market value was more than Rs 7,500 crores.

He advised the government to find means and ways to mobilise funds instead of auctioning of government land for funds mobolisation.

Mr Siddaramaiah deplored the state government for acquiring 1.21 lakh acres of fertile farm land for the SEZs and town ships. It would be detrimental to the agriculture sector.

UNI