Koppal: Guarantee schemes putting financial strain on state govt, says Congress MLA Rayareddy

Team Udayavani, Jul 12, 2024, 9:33 AM IST

Koppal: Basavaraj Rayareddy, financial advisor to the Chief Minister and Congress MLA from Yelburga, openly discussed the internal financial struggles of the state government, highlighting the lack of funds for various development projects.

Speaking at an event in Yelburga constituency, Rayareddy stated that the guarantee schemes require an allocation of Rs. 60,000-65,000 crore. This leaves no funds for other projects.

He mentioned that being close to the Chief Minister gives him insight into the financial problems. The lack of funds is hindering development works across the state. He added that many MLAs are requesting funds, but there is a financial crunch.

Rayareddy mentioned that it is very difficult to secure funds for the guarantee schemes. As the financial advisor to the Chief Minister, he is aware of the state’s financial situation.

He also noted that funds have only been secured for his constituency’s lake development project, worth Rs. 970 crore, but no one is coming forward to provide the necessary land for the work.