Former Prime Minister Dr Manmohan Singh on Wednesday appreciated Karnataka Chief Minister Siddaramaiah for maintaining financial discipline in the state.

Speaking at the inaugural function of Dr. B.R. Ambedkar School of Economics (BASE) here, Manmohan Singh opined that Siddaramaiah, who has presented 12 state budgets so far, has maintained financial discipline even after waiving off Rs 8,165 crore of agricultural loans.

“Karnataka has implemented Anna Bhagya scheme on the lines of Food Security Act enacted by United Progressive Alliance (UPA) government. Despite implementing various social welfare schemes, Siddaramaiah has succeeded in maintaining the fiscal discipline. Karnataka is one of the states that maintained financial discipline,’’ the former Prime Minister said.

Expressing concern over growing economic and social disparities in the country, he has emphasized on the need to implement new initiatives in the backdrop of cancelling the Planning Commission. “There is a need for a new social and economic policy,’’ he said.
He wished Dr B.R. Ambedkar School of Economics to become one of the best educational institutions in the country.

Welcoming former Prime Minister Manmohan Singh, Chief Minister Siddaramaiah has recalled former’s services for more than a decade when the country was undergoing financial crisis.

“As a Prime Minister, Dr Manmohan Singh was instrumental in shaping the future of India for a decade between 2004 and 2014. We can speak hours on his achievements and write volumes about his work,’’ Siddaramaiah said.

He said the premier Institution will not only promote research and training in the field of Theoretical and Applied Economics, along with other relevant subjects of Social Sciences, but also provides abundant opportunities for budding economists to take up research activities at a higher plateau. “The concept of our Government was that BASE should be a platform for the convergence of academic thought and real-world action to change the destiny of the people for a better tomorrow,’’ he said.

The chief minister has assured the government’s support to the BASE in all respects including providing free flow of funds and resources to make it economically strong and turn it self-reliant.

Speaking on the occasion, former Reserve Bank of India governor Dr. C. Rangarajan has said the measures should be taken for speedy implementation of projects that were being delayed due to the slump in economic growth. “Conducive atmosphere is needed to attract investments,’’ Rangarajan said.

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