Accusing BJP of creating "instability" in Karnataka, Union Minister Rajeev Shukla today said the current political situation has hurt the financial interests of the state.

"The ongoing political crisis in Karnataka highlights the sorry state of affairs precipitated by an incompetent BJP government, which has been more focused in pulling out all stops to manufacture an artificial majority in the Assembly rather than providing effective governance to the state," Shukla said.

He claimed the party's focus on saving its government has resulted in a slide of its gross state domestic product (GSDP) growth rate from 12.60 per cent in 2007-08 to 6.44 per cent in 2011-12 which was less than the all-India average of 6.88 per cent in the same year.

"This is despite the fact that the central government has been extremely forthcoming in providing assistance to the state. Central assistance to Karnataka over the last three years itself has increased from Rs 12,740.39 crore in 2009-10 to 13,603.78 crore in 2011-12," the Minister of State for Parliamentary Affairs said in a statement here.

He said BJP's "habit to play musical chairs" over the chief minister's post and "leadership-governance deficit has left the state bleeding into debt which has increased from 1.97 per cent of GSDP in 2007-08 to 2.91 per cent of GSDP.