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PremiumKarnataka Budget LIVE Updates: Karnataka's Chief Minister Siddaramaiah is presenting the state budget.
Under this, Total Expenditure is estimated to be ₹3,27,747 crores which includes Revenue Expenditure at ₹2,50,933 crores, Capital Expenditure at ₹54,374 crores and loan repayment at ₹22,441 crore.
It is the second budget of the 2023-24 fiscal year and is expected to outline the specific allocation required to fulfil the five pre-poll guarantees made by the Congress party.
Also, ₹37,587 Crores allocated for Education, ₹24,166 Crores for Women and Child Development. This is 11% and 7% respectively of the total budget allocation. ₹14,950 Crores - 4% of the total allocation - allocated for Health and Family welfare.
This budget holds significance as it is the first since the Congress party assumed power in the state after the May 10 election.
The budget will also prioritize strategies for increasing revenue generation. Notably, this will be Siddaramaiah's seventh budget as Chief Minister, having previously presented six budgets during his tenure from 2013 to 2018. Additionally, this budget will mark his 14th budget attendance overall.
Liquor manufacturers on Friday raised concerns about the Karnataka government hiking tax on Indian made foreign liquor (IMFL), saying the move will increase consumer prices and adversely hit sales.
The newly-elected Karnataka government on Friday presented its budget for 2023-2024. Chief Minister Siddaramaiah, in his budget speech, announced a 20 per cent hike in existing rates of additional excise duty (AED) on Indian Made Foreign Liquor (IMFL) on all 18 slabs.
Liquor industry associations Confederation of Indian Alcoholic Beverage Companies (CIABC) and International Spirits and Wines Association of India (ISWAI) said with this AED, Karnataka would become the most expensive state for spirits in India.
Karnataka's Chief Minister Siddaramaiah made a significant announcement regarding the state's budget for 2023-24. He declared the formation of a Christian Development Corporation, aiming to support and promote the welfare of the Christian community. Additionally, the Chief Minister emphasized the development of pilgrimage centers for the Jain, Muslim, and Sikh communities.
To further address the needs of various communities, a substantial allocation of ₹360 crore was designated for the Chief Ministers' Special Development Programme and the Minorities Colony Development Programme in the upcoming year
Former Chief Minister H D Kumaraswamy called it a "cut-and-paste budget."
“It is a cut-and-paste budget, which was reserved only to blame Prime Minister Narendra Modi and previous BJP government in Karnataka. It is limited to issuing a political statement."
The budget put forth by Karnataka Chief Minister Siddaramaiah was criticized by the opposition BJP and the JD(S) on Friday. They expressed their discontent, stating that the budget lacked vision and would impose a significant financial burden on the state. B S Yediyurappa, the former Chief Minister, specifically pointed out that the budget failed to present a holistic plan for the state's development and would instead burden the populace with increased taxes.
“Chief Minister Siddaramaiah has said he will borrow ₹86,000 crore. The burden of the debt will fall on the citizens of the state," Yediyurappa said
"Equal distribution of wealth among all sections of the society is as important as attracting capital investment and creating more employment for the economic progress of the state. Hence, our Government is implementing these guarantee schemes, which are not just the freebies provided to the people but are necessities to distribute the fruits of economic development among poor and the depressed," a press release from the CMO said.
The Karnataka government has decided to amend the Section 95 of the Karnataka Land Revenue act to allow the landowners to convert agricultural land for non-agricultural purposes by self-declaration.
Karnataka Chief Minister Siddaramaiah on Friday attacked the National Education Policy, saying it is incompatible with the federal system and has several anomalies that undermine the Constitution and democracy.
In his budget speech in the Legislative Assembly, he said the Karnataka government would formulate a new education policy keeping in mind the local social, cultural and economic milieu of the state.
During his budget speech in the Legislative Assembly, Karnataka Chief Minister Siddaramaiah put forward a proposal for two distinct Metro rail projects in Bengaluru, amounting to a total of ₹31,328 crore.
He specifically mentioned that a Detailed Project Report has been submitted to the Central government for the approval of Metro Phase-3, which is estimated to cost Rs. 16,328 crore
Karnataka government estimated expenditure is ₹3,27,747 crore with ₹2,50,933 crore in form of Revenue Expenditure and Rs. 54,374 crore for Capital Expenditure. Moreover, Rs. 22,441 crore will also go for loan repayment.
The government is mulling over the idea of amending the Karnataka Motor Vehicle Tax Act in order to simplify it. This will involve introducing a user-friendly software system that ensures precise verification of motor vehicle tax transactions. Additionally, there will be a reassessment of the existing tax rates applied to specific vehicle categories
Karnataka government has decided to revise the guidance values for all immovable properties across the state this year
To effectively manage the traffic situation in Bengaluru and ensure the safety of women, the Karnataka government has decided establish five traffic police stations and six women police stations in the capital city
Karnataka government will strengthen the police forces of the state with 2,454 new posts which will help to maintain law and order
During his budget speech, Karnataka CM Siddaramaiah emphasized on the use of artificial intelligence and machine learning to to augment revenue collection for the state
The implementation of scientific and technical approaches, along with improved monitoring of mineral mining activities, will lead to an enhanced revenue collection by the Mines and Geology Department. These measures aim to promote mining practices that are sustainable, safe, and based on scientific principles.
Additionally, the necessary reforms will be implemented to ensure the achievement of these objectives. The government has announced a target of ₹9,000 crore from the Mines department for the year 2023-24.
Karnataka Chief Minister Siddharamaih on Friday presented the first state budget on Friday 7 July, since the Congress took charge of the state government this year. CM Siddaramaiah informed that the state government is expecting a total expenditure of ₹2,50,933 crores, a capital expenditure of ₹54,374 crore and loan repayment of ₹22,441 crores is expected. Read More
"We are dependent upon sculptors from other states for temple construction," Siddaramaiah said as he announced sculptor training centre in Kolar district of Karnataka to nurture expert temple sculptors.
Karnataka CM Siddaramiah presented his 14th budget in the state Vidhana Soudha on Friday. CM Siddaramiah informed that the state government is expecting a total expenditure of ₹2,50,933 crores, a capital expenditure of ₹54,374 crore and loan repayment of ₹22,441 crores is expected. Read the top highlights from Karnataka budget
Siddaramaiah also addressed the menace of fake mark certificates and said that to deal with the problem, the government would make it mandatory for students of higher education in the state to get registered in the 'Academic Bank of Credits' and access marks cards and education certificates from the National Academic Depository/Digilocker.
Karnataka Chief Minister Siddaramaiah on Friday attacked the National Education Policy, saying it is incompatible with the federal system and has several anomalies that undermine the Constitution and democracy.
Karnataka govt to revise guidance values for all immovable properties across the state this year: CM Siddaramaiah in budget speech.
“Karnataka State Christian Development Corporation will be established for which ₹100 crore will be provided in the current year", said CM.
Liquor, including beer, is set to get dearer in Karnataka as the state government on Friday proposed to hike additional excise duty in the 2023-24 budget presented by Chief Minister Siddaramaiah in the Legislative Assembly on Friday.
Siddaramaiah, who holds the Finance portfolio, proposed to increase the existing rates of the duty on Indian Made Foreign Liquor (IMFL) by 20 per cent on all 18 slabs.
He also proposed to increase the duty on beer from 175 per cent to 185 per cent.
"Even after the increase in excise rates, the price of liquor in our state would be lower when compared to the neighbouring states," the Chief Minister said in the budget speech. Read the full story here.
"Karnataka govt to revise guidance values for all immovable properties across the state this year," said CM Siddaramaiah in budget speech.
"Karnataka govt to increase additional excise duty on beer from 175% to 185%," said CM Siddaramaiah in a budget speech.
While presenting the state budget, CM Siddaramaiah said, “Karnataka govt to increase existing rates of additional excise duty on Indian Made Foreign Liquor (IMFL) by 20% on all 18 slabs."
Karnataka govt announces life and accident insurance of ₹4 Lakh to e-commerce delivery employees working with Swiggy, Zomato, Amazon etc.
This includes ₹2 lakh life insurance and ₹2 lakh accident insurance and covers both full-time and part-time delivery persons.
While presenting the state budget, Karnataka CM said, “Liquor excise duty hiked by 20%."
Karnataka CM Siddaramaiah presents the state budget with an outlay of over ₹3.27 lakh crore. (PTI)
While presenting the state budget, Karnataka CM Siddaramaiah said, “Through 5 poll promises, Karnataka govt will provide average additional financial aid of ₹4,000 to ₹5,000 a month to each household." (PTI)
Total Expenditure is estimated to be ₹3,27,747 crores which includes Revenue Expenditure at ₹2,50,933 crores, Capital Expenditure at ₹54,374 crores and loan repayment at ₹22,441 crores, ANI reported.
“ ₹37,587 Crore allocated for Education, ₹24,166 Crores for Women and Child Development. This is 11% and 7% respectively of the total budget allocation. ₹14,950 Crores - 4% of the total allocation - allocated for Health and Family welfare," said Siddaramaiah while presenting the state budget.
Karnataka CM Siddaramaiah presents state budget with an outlay of over ₹3.27 lakh crore, PTI reported.
CM Siddaramaiah while presenting the state budget said, “Through 5 polls ''guarantees'', approximately ₹52,000 crore, will be spent annually, and expected to benefit 1.3 crore families." (PTI)
CM Siddaramaiah announces total expenditure of ₹3.27 lakh crore. The budget to be tabled today will be in place effectively from August 1.
Karnataka Chief Minister Siddaramaiah, who holds the finance portfolio, presents State Budget for 2023-2024 in the Legislative Assembly.
Karnataka CM Siddaramaiah surpasses record of late Ramakrishna Hegde who had presented 13 budgets, PTI reported.
We are committed to fulfil our poll promises, says DK Shivakumar ahead of Karnataka Budget
The implementation of the five poll guarantees is expected to cost the state exchequer an estimated ₹60,000 crore annually. The Chief Minister had already said that some strict austerity measures will be announced. He has hinted that the size of the budget this year could be about ₹3.35 lakh crore.
CM Siddaramaiah announced that all five guarantees will be implemented in the current financial year at a cost of approximately ₹50,000 crore every year.
"We had a long consultation. It will be given in this financial year itself," Siddaramaiah said earlier in the month.
The Chief Minister had already said that some strict austerity measures will be announced. He has hinted that the size of the budget this year could be about ₹3.35 lakh crore.
he budget assumes significance as the CM has to make provisions for the five guarantees, which his Congress party had announced before the assembly elections. The implementation of the five poll guarantees is expected to cost the state exchequer an estimated ₹60,000 crore annually.
State Minister HK Patil said, "Natural that there are people's expectations. There also have a lot of confidence in us. Congress party has built that credibility in Karnataka & also in the country. I am sure that we will be able to deliver and people will be happy after the Budget."
Earlier, CM Siddaramaiah announced that all five guarantees will be implemented in the current financial year at a cost of approximately ₹50,000 crore every year.
"We had a long consultation. It will be given in this financial year itself," Siddaramaiah said earlier in the month.
Congress legislative party meeting underway ahead of budget presentation today. CM Siddaramaiah, Deputy CM DK Shivakumar and other ministers are also present at the meeting.
Karnataka state minister KJ George said, "We have already started implementing all the promises we made to the people. We will do it. All five guarantees will be implemented. This Budget's greatest expectation - all five guarantees - will be implemented."
Chief Minister Siddaramaiah has arrived at Vidhana Soudha in Bengaluru to present the state budget.
Karnataka Minister HK Patil said, "People have a lot of expectations and confidence in us. The Congress party has built that credibility in Karnataka and in the country. I am sure that we will be able to deliver. People will appreciate the budget."
This is Siddaramaiah's seventh Budget as a Chief Minister, having presented six during his tenure as Karnataka CM from 2013 to 2018. (PTI)
The five 'main' guarantees, which Congress promised to fulfil after coming to power in Karnataka, were as follows:
1. Gruha Jyoti: 200 units of free power to all households.
2. Gruha Lakshmi: ₹2,000 monthly assistance to the woman head of every family.
3. Anna Bhagya: 10 kg of rice free to every member of a BPL household.
4. Yuva Nidhi: ₹3,000 every month for unemployed graduate youth and ₹1,500 for unemployed diploma holders (both in the age group of 18-25) for two years.
5. Uchita Prayana: Free travel for women in public transport buses.
The government may also introduce a bill repealing the Karnataka Land Reforms (Amendment) Act, besides another amendment pertaining to the Agricultural Produce Marketing (Regulation and Development) (Amendment) Act, 2020. The Siddaramaiah government will also make budgetary provisions for its five pre-poll guarantee schemes.
The Karnataka government is likely to table a bill scrapping the anti-conversion law called Karnataka Protection of Right to Freedom of Religion Act, 2022, which was promulgated by the previous BJP government, PTI reported.
According to some Congress insiders, the government will also introduce a bill scrapping the anti-cow slaughter law called Karnataka Prevention of Slaughter and Preservation of Cattle Act, 2020.
As Chief Minister Siddaramaiah, who holds the finance portfolio, gets ready to present his budget on July 7, the BJP is prepared to attack the Congress for its "failure" to implement the five guarantees that were supposed to come into effect from the day the government came to power.
The budget session of the Karnataka Legislature began on 3 July with Governor Thaawarchand Gehlot emphasising on the need to eradicate corruption in the state, and the ruling Congress and opposition BJP gearing up for a battle both inside and outside the Assembly.
Earlier in the month of February Former Karnataka Chief Minister Basavaraj Bommai had presented the State Budget for the financial year 2023-24.
Ahead of the Budget, State's Minister HK Patil said, "Natural that there are people's expectations. There also have a lot of confidence in us. Congress party has built that credibility in Karnataka & also in the country. I am sure that we will be able to deliver and people will be happy after the Budget."
The budget assumes significance as the CM has to make provisions for the five guarantees, which his Congress party had announced before the assembly elections. Read full story here.
