CM Siddaramaiah hits out at Centre for reducing Nabard funding from ₹5,600 crore ₹2,340 crore to Karnataka
The Hindu
Karnataka CM claims that National Bank for Agriculture and Rural Development (Nabard) funding has come down by 58%, from ₹5,600 crore in 2023-24 to ₹2,340 crore in 2024-25.
Karnataka Chief Minister Siddaramaiah hit out at the Centre for reducing the National Bank for Agriculture and Rural Development (Nabard) funding by 58%, from ₹5,600 crore in 2023-24 to ₹2,340 crore in 2024-25 to the State, which would adversely impact the borrowings of farmers.
Speaking to reporters in Bengaluru on November 18 after paying floral tributes to Kanaka Dasa (1509-1606), a Haridasa and philosopher of Dvaita Vedanta, on his birth anniversary, the Chief Minister said he had written to Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitharaman requesting them not to do injustice to farmers by reducing Nabard funds to Karnataka. The Nabard has been granting loans to State-run cooperatives at 4% interest, and the cooperatives lend the money to farmers.
The State Government has been giving farmers interest-free loans up to ₹5 lakh, he said.
He criticised Ms Sitharaman for denying funds to the Upper Bhadra Project, which was announced in the Union Budget for 2023-24. A sum of ₹5,300 crore was announced, but the Centre is yet to release funds to the State, he claimed.
Instead of seeking funds from the Centre, Union Ministers H. D. Kumaraswamy and Pralhad Joshi have been criticising the Congress government in Karnataka, the CM said.
On the alleged false advertisement on implementation of ‘guarantee schemes’ in Karnataka, Mr Siddaramaiah said that his government will file a law suit against the Maharashtra government for issuing ‘false’ advertisements in poll-bound Maharashtra that the flagship ‘guarantee’ schemes were not implemented in Karnataka.
“Mr Modi is misleading the people and telling lies. The Maharashtra government issued false advertisements. We are planning to file a suit against the Maharashtra government,” Mr Siddaramaiah said.
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