‘Biggest borrowing CM': Karnataka BJP hits out at Siddaramaiah over ₹93,000 crore loan report

The criticism came on the very day Siddaramaiah became the longest-serving Chief Minister of Karnataka.

Published on: Jan 7, 2026, 14:54:15 IST

By HT News Desk

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The opposition BJP on Wednesday attacked Karnataka Chief Minister Siddaramaiah over the state’s rising debt, calling him the “biggest borrowing CM”, citing reports indicating that the government is likely to borrow ₹93,000 crore in the fourth quarter, from January to March.

BJP Leader of Opposition in the Assembly, R Ashoka, accused the Congress government of “failing Karnataka.'' (X/File)

The criticism came on the very day Siddaramaiah became the longest-serving Chief Minister of Karnataka. BJP Leader of Opposition in the Assembly, R Ashoka, accused the Congress government of “failing Karnataka” and said Siddaramaiah must understand that history judges the legacy left behind, not merely the time spent in office, news agency PTI reported.

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"Siddaramaiah is not the longest serving CM, but the biggest borrowing CM," Ashoka told PTI. “The Difference between a statistic and a legacy is — the title of the longest serving CM is merely a statistic. The title of the biggest borrowing CM is a legacy.” He added, “One of these will be forgotten, the other will be permanently remembered in Karnataka’s history books.”

Highlighting the latest borrowing figures, Ashoka said, “ ₹93,000 crore borrowed in a single quarter - the biggest Q4 loan haul in India. This cannot be called governance; it is the very definition of panic-driven financial management.” He blamed the surge on a weakening fiscal structure, noting that the government is borrowing to repay previous loans, fund unsustainable guarantee schemes, and cover gaps caused by poor economic planning.

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“When a government is forced to borrow an average of ₹31,000 crore every month just to stay afloat, it is not a sign of strength, but a clear indicator of fiscal stress,” he said. Ashoka warned that the government’s record would not be remembered for longevity, but for inefficiency and debt. “It will judge the track record of legacy left behind. And what is being left behind today is undeniable: mountain of debt, clear trail of inefficiency, and a mortgaged future, for the state of Karnataka,” he added.

(With inputs from PTI)

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HT News Desk
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