Karnataka: CM Siddaramaiah announces ₹3.71 lakh crore budget | Key highlights

  • CM Siddaramaiah presents Karnataka's 15th Budget with budget outlay of 3.71 lakh crore.
  • He said that Karnataka's economy expected to grow at 6.6% in FY 2025

Updated16 Feb 2024
Bengaluru: Karnataka Chief Minister Siddaramaiah with a bag containing budget papers
Bengaluru: Karnataka Chief Minister Siddaramaiah with a bag containing budget papers (PTI)

Karnataka Chief Minister Siddaramaiah on Friday presented his 15th Budget. The state's budget outlay stands at 3.71 lakh crore this year, CM Siddaramaiah said. He added that Karnataka's economy is estimated to grow at 6.6% in FY 2025.

Karnataka Budget 2024: Here are some key highlights

  • The Karnataka government increases the allocation for welfare programmes to 1,20,373.
  • Karnataka government earmarked 52,000 crore in the "hands of people during 2024-25" through five guarantees (Shakti, Gruhajyoti, Gruhalakshmi, Yuvanidhi and Annabhagya).
  • Under the Gruha Lakshmi Scheme - which provides 2,000 per month to women head of the family - 11,726 crore has been directly transferred to beneficiaries.
  • The Karnataka government announced that 86,423 crore will be provided for women-oriented schemes in FY 2025.
  • According to the Karnataka CM, an average of 50,000 to 55,000 is transferred to each family every year through 'guarantee' schemes.
  • A loss of 59,274 Crore was incurred by Karnataka due to unscientific implementation of GST in the last seven years, according to CM Siddaramaiah. The CM said "Karnataka is the second highest source of GST collection in the country with an 18% increase this fiscal compared to 2022-23".
  • Karnataka CM Siddaramaiah alleged that cesses and surcharges collected by the Central Govt are increasing and the same are not being shared with states
  • CM Siddaramaiah in his budget speech said that the tax slabs for Indian Made Liquor (IML) and beer will be revised.
  • All services rendered by the Excise department will be digitised in Karnataka, said the CM.
  • The Karnataka government will be launching a new social security scheme Anna-Suvidha, a home delivery app for the free delivery of food grains (PDS) to the doorstep of senior citizens above 80 years.
  • The Congress-ruled Karnataka government has aimed to complete 3 lakh houses in 2024-25. On the PM Awaas Yojana, Karnataka CM said that the scheme has slowed down in the state as most of the beneficiaries could not afford to pay their contribution of 5 lakh. "Our Government has therefore decided to limit the contribution to be paid by the beneficiaries to one lakh rupees. The remaining beneficiary share of approximately 4 lakh will be provided by the Government," CM Siddaramaiah said.
  • Processed and value-added millets will be made available at affordable prices under the new programme 'Namma Millet in Karnataka.
  • Karnataka government said that 50 Morarji Desai Residential Schools will be started with a capacity of 50 students each. 100 Post-matric boys/girls hostels will be started, as well as 100 new Maulana Azad Schools will be opened. Pre-University colleges will be started in 25 schools.
  • The fee reimbursement scheme for students of the minority community who are pursuing B.Sc., Nursing/G.N.M Nursing courses in Government/Private Colleges will be restarted.
  • Karnataka government allocated 10 crore for women skarnataka elf-help groups.
  • The state government allocated 100 crore for the development of wakf properties.
  • Karnataka CM said 2 crore will be provided for the formulation of targeted schemes aimed at the financial empowerment of the Sikligar Community.
  • A provision of 50 crore will be made for the development of major pilgrimage destinations for Jains.
  • A free training programme for CLAT, MAT, and Chartered Accountant Foundation course will be started for students belonging to Backward classes.
  • Karnataka government announced 400 cr for construction and purchase of equipment in medical colleges and 130 crore for construction of super-specialty hospitals on Friday.
  • 50 women-run cafes with the name of Cafe Sanjeevini will be launched across the State during this year at a cost of 7.50 crore, said CM Siddaramaiah.
  • The Platform-Based Gig Workers Fund and Welfare Fee Bill will be introduced in order to provide livelihood security to Platform-Based Gig Workers.

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