'Look at Fadnavis' vision for Mumbai...': Mohandas Pai says Siddaramaiah should study Maharashtra budget

Former Infosys CFO Mohandas Pai on Monday strongly criticised the Karnataka government, calling its policies "backward-looking" and urging Chief Minister Siddaramaiah and Deputy CM DK Shivakumar to take lessons from Maharashtra’s economic strategies.

"Our Karnataka CM Siddaramaiah, DY CM DK Shivakumar should study the Maharashtra budget, its strategies for growth, investment and give Karnataka a great future – not more freebies, more communal policies, more victimhood narratives," Pai wrote on X. "Our CM vision for Karnataka is backward-looking, not what our youth need now. Very sad at the lack of vision and focus in Karnataka."

He further compared Karnataka’s economic approach to Maharashtra’s aggressive growth policies, particularly praising Deputy CM Devendra Fadnavis. "Look at what Fadnavis is doing, his thoughts, his policies, his vision and investment in Mumbai. Look at our govt vision for Bengaluru. Very sad!"

In December 2024, Pai alleged that the Siddaramaiah administration was the "most corrupt government" Karnataka had seen. Speaking on the Bharatvaarta podcast, he accused the state government of financial mismanagement and prioritising populist giveaways over long-term investments in education and skill development.

"(Former Chief Minister Basavaraj) Bommai left us with about Rs 22,000-23,000 crore revenue surplus. Next year, Siddaramaiah made a Rs 4,000 crore revenue deficit. This year, he’s got another Rs 27,000 crore deficit. That’s a Rs 45,000-50,000 crore swing in expenditure. And where has the money gone? It’s gone for freebies," Pai said. He further slammed the government for funding welfare schemes through borrowings, stating, "You are borrowing money to give freebies."

Pai’s recent comments come as Maharashtra unveiled a massive Rs 7,00,020 crore budget for 2025-26, stressing industrial expansion, infrastructure, and investment. Deputy CM and Finance Minister Ajit Pawar announced a new industrial policy aimed at attracting Rs 40 lakh crore in investments and creating 50 lakh jobs.

The budget also introduced major infrastructure projects, including a third airport near Vadhvan port in Palghar district and a Mumbai-Ahmedabad bullet train station near the facility. The Mumbai Metropolitan Region is being developed as a growth hub, with a projected USD 1.5 trillion economy by 2047.

Additionally, Maharashtra allocated Rs 15,000 crore for rural housing, targeting 20 lakh new homes, while agriculture growth is expected to rise to 8.7% in 2024-25. The state is also expanding healthcare facilities to ensure accessibility within 5 km for all residents.