Karnataka finance department urges spending restraint, warns of cuts across departments

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 subs