This came days after his marathon three-hour forty-minute Budget speech, and Siddaramaiah surpassed that by spending around five hours responding to Budget discussions in the Assembly. (Source: X/Siddaramaiah)Chief Minister Siddaramaiah Wednesday defended Karnataka’s economic performance, citing a 7.8 per cent growth in Gross State Domestic Product (GSDP), and argued that the proposed debt of Rs 1.32 lakh crore is within the Fiscal Responsibility and Budgetary Management limits, which are essential for state development.This came days after his marathon three-hour forty-minute Budget speech, and Siddaramaiah surpassed that by spending around five hours responding to Budget discussions in the Assembly.He responded by countering Opposition legislators’ claims that the state’s growth had stagnated while its debt burden had increased. Quoting from a report, he said, “Karnataka leads southern states in fuelling India’s GDP.”Karnataka had the highest GSDP rate in the country at 7.8 per cent, followed by Telangana at 7.1 per cent, Andhra Pradesh at 6.9 per cent and Tamil Nadu at 6.8 per cent.All states incur debt in their budget, Siddaramaiah said, noting that the national debt has ballooned by Rs 165 lakh crore under Prime Minister Narendra Modi. “But the money should be used for welfare and asset creation,” he said.Siddaramaiah said the proposed borrowing of Rs 1.32 lakh crore in the 2025-26 budget was within the limits prescribed by the Fiscal Responsibility and Budgetary Management Act, noting that state debt doubled every five years.Central government policies also came under fire in his speech, which was interjected by occasional banter between him and the Opposition benches over his power tussle with Deputy CM D K Shivakumar.Story continues below this adThe Karnataka Government, he said, was hopeful of presenting a surplus budget for the upcoming fiscal. The Central Government’s rationalisation of GST rates in the middle of the fiscal year, in September last year, affected the state’s budget estimates prepared in March 2025. While the rationalisation cost the state Rs 10,000 crore in reduced revenue in the 2025-26 fiscal, the Centre has refused to compensate.This, along with pending Jal Jeevan Mission dues of Rs 13,000 crore, impacted the finances, he said.In response, Leader of Opposition R Ashoka said the state had reached a situation where it had to borrow even to finance earlier loans. He said the Opposition was unhappy with the queries it raised regarding the reduction in grants to several development corporations.“To maintain fiscal discipline, the government has employed such tactics. This budget is not pro-people. So, we oppose this budget,” he said.Story continues below this adAmid a walkout by the opposition, the government passed the Finance Bills.