Chief Minister Siddaramaiah, who also holds the Finance portfolio, presented a revenue-deficit Karnataka Budget for 2024-25 on February 16 with a total outlay pegged at ₹3,71,383 crore, as against a revised estimate of ₹3,12,708 crore for 2023-24.
With the deficit pegged at ₹27,354 crore, this is also perhaps the first time the borrowings in a year has crossed the ₹1 lakh crore mark in a particular fiscal year, sources said.
Also read: Karnataka budget outlay pegged at ₹3,71,383 crore, ₹52,000 crore for guarantee schemes
The State budget had gone into revenue deficit during the COVID-19 pandemic years, but had recovered and become revenue surplus in 2023.
Chief Minister Siddaramaiah has earmarked ₹52,000 crore for the implementation of five guarantee schemes of Shakti, Gruha Jyoti, Gruha Lakshmi, Yuva Nidhi and Anna Bhagya in 2024-25.
The 10-day Budget session has had a stormy beginning so far as the Siddarmaiah-led government raised issues such as “injustice” meted out to the State by the Narendra Modi-led government at the Centre in devolution of taxes, grants-in-aid, denial of compensation for drought relief, and non-clearance of pending irrigation and drinking water projects.
The CM’s Budget speech witnessed sloganeering and a walkout by members of the Opposition, as CM Siddaramaiah came down heavily on the Union government.
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