Neglecting the masses cost me my job, says a candid Krishna

Defeated Karnataka CM Krishna admitted his govt virtually neglected rural areas, which cost the party.

Karnataka Chief Minister SM Krishna's exit from power may not be as dramatic as his Andhra Pradesh counterpart, but his efforts to snatch back the IT glory for capital Bangalore from Chandrababu Naidu's Cyberabad has contributed to the defeat of his Government.

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Beating Naidu in his own game of generating hype, Krishna got investment proposals to the tune of Rs 25,000 crore in the Global Investors Meet (GIM) within a year of occupying office projecting Karnataka as an investment destination, but soon found wanting for the promised money coming, as it was ahead of a economic downturn.

Though there were huge promises for IT investment, it was hit by the dotcom burst followed by the technology downturn that saw a vacuum in investments. But it picked up rapidly in the later part of his tenure as Bangalore gained attention with India becoming the preferred off-shore destinations by global IT firms.

For Krishna's credit, his BATF, the public private partnership in urban governance became a model that is being replicated in other Indian cities.

Krishna, who held the finance portfolio, tried to improve the fiscal situation of the state with the Medium Term Fiscal Reforms, which was even lauded by World Bank Chief, but could not hold on due to drought, which hit the state for three consecutive years.

"I have to introspect", Krishna said after the electorate rejected his Government, virtually admitting his neglect of the rural areas and urban centric governance cost him the job.