CH News
Chief Minister Chandra, the state president of the Aam Aadmi Party, has raised alarms regarding the government’s plan to secure a substantial ₹39,000 crore loan from various financial institutions for the implementation of the ‘Brand Bengaluru’ initiative. In a letter addressed to Chief Minister Siddaramaiah, he emphasized the need for thorough research before committing to a loan amount that is three to four times greater than the BBMP budget of ₹12,371 crore for the 2024-25 fiscal year.
Chandra urged CM Siddaramaiah to prevent the BBMP from falling into a financial crisis. He insisted that before acquiring such a massive loan, it is crucial to conduct a detailed study of the potential profits, losses, and long-term consequences of this decision. He also called for transparency, asking the government to disclose the basis on which such a significant loan is being pursued and what assets the BBMP will use as collateral.
He criticized the BBMP for having outstanding bills of approximately ₹6,000 crore to contractors for completed projects and argued that taking on more debt for development is unjust to the citizens of Bengaluru. Dr. Chandra stressed that priority should be given to essential infrastructure improvements, such as repairing potholes, resurfacing roads, and constructing safe pedestrian paths to address the growing traffic issues. He urged the government to focus on urgent projects rather than extravagant plans like the Skydeck, which do not benefit the general public.
