Karnataka’s finance department has warned the state government to exercise “prudence” in spending and prepare for budgetary cuts, citing liabilities at 24.94% of GSDP, close to the 25% FRBM limit. A leaked note flagged the drought situation, cash crunch and pending project bills, including a preliminary need for an additional Rs 4,000-5,000 crore for irrigation pumpset subsidies. CM DK Shivakumar acknowledged the concerns, saying the government must balance spending while continuing its five guarantees.from Bengaluru News: Latest Bangalore News Headlines & Live News Updates from Bangalore - Times of India https://ift.tt/gLNEUIw
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