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Karnataka Budget 2024-25 | Siddaramaiah presents revenue-deficit budget, total outlay pegged at ₹3,71,383 crore

The Budget Session 2024 commenced on February 12 with the Governor Thawaarchand Gehlot’s addressing the joint session of both the Houses of the State legislature

February 16, 2024 09:37 am | Updated 03:12 pm IST

CM Siddaramaiah surrounded by Congress legislators before presenting the Karnataka Budget 2024-25

CM Siddaramaiah surrounded by Congress legislators before presenting the Karnataka Budget 2024-25

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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  • February 16, 2024 14:03
    CM proposes dedicated economic corridor between Bengaluru and Mangaluru

    Chief Minister Siddaramaiah has proposed to develop a dedicated economic corridor between Bengaluru and Mangaluru, besides announcing feasibility study to construct an international cruise and tourism port in Dakshina Kannada district.

    On the lines of the Mumbai-Chennai economic corridor, the government has planned similar corridors between the New Mangalore Port and Bengaluru, and Bidar and Bengaluru.

    READ MORE
  • February 16, 2024 13:35
    Growth-inducing welfare-oriented budget for inclusive and prosperous Karnataka: CM Siddaramaiah

    WhatsApp Image 2024-02-16 at 11.24.49.jpeg

    For the financial year 2024-25, revenue deficit is estimated to be ₹27,354 crore. Fiscal Deficit is estimated to be ₹82,981 crore, which is 2.95% of GSDP. Total liabilities at the end of 2024-25 is estimated to be ₹6,65,095 crore, which is 23.68% of GSDP. We have maintained fiscal discipline by restricting fiscal deficit and total outstanding liabilities for 2024-25 within the limits mandated under Karnataka Fiscal Responsibility Act, 2022.

    This is the first full-fledged budget presented by me in my second tenure as Chief Ministerof Karnataka. I have belied all the prophesies of fiscal dooms by detractors and have provided adequate budget allocation not only for 5 guarantee schemes but also for several new welfare programmes as well as for infrastructure programmes

    I have presented a growth-inducing welfare-oriented budget which envisions inclusive and prosperous Karnataka with a priority to provide much needed support to farmers, women, youth and marginalized sections of the society who are battered by high inflation, increasing inequality and jobless growth in the country.

    More importantly, I have ensured fiscal discipline by keeping the fiscal deficit within 3% of GSDP and outstanding liabilities within 25% of GSDP. Further I am confident of achieving Revenue Surplus after next 2 years as projected in MTFP.

  • February 16, 2024 13:16
    Special unit to be set up to check spread of fake news

    Information Disorder Tackling Unit will be formed in collaboration with I.T.B.T. Department to take stringent action against those who create insecurity and fear in the society by spreading fake news. 

    In Home department, a special cell will be formed and empowered to take suitable legal action against them.

  • February 16, 2024 13:11
    CM Siddaramaiah spells out measures to mitigate drought in State

    During 2023-24, the Karnataka government declared drought in 223 taluks. The State Government has submitted several memorandums to the Central Government seeking an allocation of ₹18,171 crore to provide relief to drought-hit farmers. However, the Central Government has not considered our request. Notwithstanding the Centre’s lukewarm response, the State Government has taken several measures to mitigate the severity of drought: Siddaramaiah

    • ₹629 crore for input subsidy to 33.19 lakh farmers up to ₹2,000 to each.
    • Mini fodder kits to reduce severity of drought at a cost of ₹20 crore.
    • ₹200 crore to augment underground water level under Krishi Bhagya scheme.
    • Water conservation works of ₹100 crore taken up through Minor Irrigation Department.

    During the current year, various drought mitigation measures to be undertaken at a total cost of ₹500 crore from State Disaster Relief Fund.

  • February 16, 2024 13:01
    Tourism policy to target more tourists, investors

    The Tourism Policy which was earlier formulated for a period of 2020-2025, will be revised for 2024-2029 to attract more tourists and investors.

    • To encourage adventure tourism, cable car ropeways to be set up at ten tourist destinations under PPP model 

    • As Nagavi of Kalaburgi district it is believed to be the first university of Karnataka by the locals, State government will request ASI to take up research and restoration of the archaeological monuments and remains there from the Rashtrakuta times.

    • The ancient water supply system, which was known as ‘Karez’ in Bidar and Vijayapura districts will be revived, at a cost of ₹15 crore. 

    • At a cost of ₹25 crore, interpretation centres will be set up in Bandipur, Dandeli and Kabini to promote ecotourism by Jungle Lodges and Resorts. Ecotourism will also be developed in Kapatagudda.

  • February 16, 2024 12:58
    Slew of projects in IT/BT and sci-tech sectors
    1. A Science City at Bengaluru will be established in association with the Government of India at a total cost of Rs. 233 crore.
    2. New science centres/planetariums will be established at Shimoga, Raichur, Chikmagalur, Yadgiri and Mysuru with Central assistance. ₹170 crore is earmarked in the current year for planetarium and science centre works across different districts.
    3. The state will launch a AVGC-XR Policy 3.0 for the period 2024-2029, to generate 30,000 new high-quality jobs in the animation, visual effects, gaming and comics sectors. There will be a new investment of ₹150 crore towards this.
    4. KITS, in collaboration with KEONICS, will establish Skilling & Innovation Centers in emerging technologies across Kalaburagi, Shivamogga, Hubbali, and Tumakuru, with a budget of ₹12 Crore.
    5. A Centre of Excellence in Fintech, Spacetech and Automotive Tech at a cost of ₹10 crore will be set up over 5 years in collaboration with entrepreneurs and educational institutions.
    6. Knowledge, Health Care, Innovation and Research City (KHIR) will be established in 2000 acres near Bengaluru.
  • February 16, 2024 12:51
    CM announces 2% sports quota in recruitment to government departments

    In the last budget, it was announced that reservation for sports person will be introduced in recruitment of Police and Forest departments. From this year onward, we will introduce reservation of 2% in recruitment in other departments also, CM says.

    A Sports City with modern and international standards will also be established in 70 acres of land available in Bengaluru North Taluk, under Public-Private Partnership.

  • February 16, 2024 12:47
    Karnataka declares Basavanna as ‘cultural leader’: Siddaramaiah

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    “Vishwaguru Basavanna fought for social and gender equality and nurtured socio-religious revolution by instilling confidence among the oppressed against discrimination in the name of caste and creed. It is a matter of pride for all Kannadigas and Indians that Shri Basaveshvara laid the foundation for democracy in the world by establishing the Anubhava Mantapa. To commemorate his contributions, Government of Karnataka has declared Vishwaguru Jagajyoti Basavanna as cultural leader”: CM Siddaramaiah

    The caption Vishwaguru Basavanna - Samskritika Nayaka will be printed in his photo displayed in all government offices.

    Basavanabagewadi Development Authority will be formed for development of Basavanabagewadi, the birthplace of Basavanna.

  • February 16, 2024 12:44
    Three programmes to boost start-up ecosystem. 

    Three new programmes will be launched to maintain Karnataka’s top position in the start-up ecosystem. 

    1. Rajiv Gandhi Entrepreneurship Program: An early-stage funding program that nurtures ideas and innovations to promote innovative endeavours, and startups initiated by students or entrepreneurs. 

    2. A new initiative to support early-stage women entrepreneurs with a sector-wise and targeted approach. 

    3. To promote agri-startups in the state, five acres of land will be provided to C-Camp Agri Innovation Park.

  • February 16, 2024 12:41
    Karnataka budget outlay pegged at ₹3,71,383 crore, ₹52,000 crore for guarantee schemes

    The total outlay of the Karnataka State budget for 2024-25 is pegged at ₹3,71,383 crore, as against a revised estimate of ₹3,12,708 crore for 2023-24. 

    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.

    While the Chief Minister has not increased any taxes, he has presented a revenue deficit budget and with the net borrowings crossing the ₹1 lakh crore, perhaps for the first time in a year. 

    READ MORE

  • February 16, 2024 12:34
    Signature Business Park at Bengaluru airport

    KARNATAKA BENGALURU 28/09/2023 Kempegowda International Airport ( BIAL ) in Bengaluru. Photo : BHAGYA PRAKASH K / THE HINDU

    A Signature Business Park is being constructed near Kempegowda International Airport in Bengaluru at a cost of ₹817 crore. This park is expected to attract investments of up to ₹5,000 crore in sesearch and innovation and various sunrise sectors in the state.

  • February 16, 2024 12:29
    Integration of public transport to reduce traffic congestion: CM

    To promote public transport, State government to focus on integrating various modes in Bengaluru, such as Metro, Suburban rail along with BMTC. 

    • State Government has accorded administrative approval for works under Namma Metro Phase-3 at an estimated cost of Rs.15,611 crore. Approval of the Central Government is awaited.
    • A draft DPR is being prepared for construction of a Metro line from Sarjapura to Agara, Koramangala, Dairy Circle and connecting to Hebbal via Mekhri Circle under Namma Metro Phase-3A.
    • BMTC to get 1,334 new electric buses and 820 BS-6 diesel buses
    • Government to set up automated driving test tracks at Udupi, Chikkaballapur, Nelamangala, Madikeri, Madhugiri, Hunasuru at an estimated cost of Rs.36 crore.
    • Automated test centers will be developed at 32 places under PPP model
  • February 16, 2024 12:18
    Cauvery Phase-5 to provide drinking water to 12 lakh people

    In May, 2024, Bengaluru Water Supply and Sewerage Board will operationalise Cauvery Phase-5 project of 775 MLD capacity to provide 110 litres of drinking water daily to 12 lakh people, at an estimated cost of ₹5,550 crore.

  • February 16, 2024 12:11
    “Brand Bengaluru to improve quality of life, attract investment”

    To develop Bengaluru into a world-class city, we have conceptualised Brand Bengaluru. We have introduced major reforms in various sectors to improve the quality of life of people and to attract investors. During this year, we are focusing on augmentation of resources, reducing traffic congestion, construction of quality roads, supply of clean drinking water, better public transport and creating a clean and beautiful Bengaluru: CM

    • By digitizing property tax records of all 20 lakh properties in the limits of BBMP, digital e-Khata and property tax payment details will be made available to the owners from 2024-25
    • White-topping works approved of major roads of 147 km length at a cost of Rs. 1,700 crore. These works will be completed before December 2025.
    • Underground tunnels to be constructed to resolve traffic congestion in the city. On a pilot basis, a tunnel will be constructed this year at Hebbal junction where there is high traffic congestion.
    • A 250-meter-high Skydeck to be designed by international architects in Bengaluru. It will become a landmark tourist destination in the city.

  • February 16, 2024 11:59
    Anganawadi workers to get smartphones, gratuity
    • 1,000 new anganwadis will be constructed at a cost of ₹200 crore.
    • A total of 75,938 smartphones to be provided to all anganawadi workers and supervisors at a cost of ₹90 crore.
    • ₹10 crore for training and capacity building workshops to 20,000 anganawadi workers and helpers.
    • Gratuity facility will be provided for anganwadi workers and helpers.
  • February 16, 2024 11:52
    Protest by BJP legislators

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    BJP legislators stage a protest outside the assembly hall against “anti-farmer” Karnataka Budget 2024-25 at Vidhana Soudha in Bengaluru.

  • February 16, 2024 11:47
    Bill for welfare of gig workers to be introduced

    In focus: Over 50 incidents of attacks on gig workers have been reported in and around Bengaluru. SUDHAKARA JAIN SUDHAKARA JAIN

    Platform-Based Gig Workers Fund and Welfare Fee Bill will be introduced to provide livelihood security to Platform-Based Gig Workers. 

    Through this Act, a cess will be levied on eligible online transactions and the money collected will be utilized for the welfare of gig workers.

  • February 16, 2024 11:42
    Making agriculture sustainable and lucrative top priority: Siddaramaiah
  • February 16, 2024 11:37
    ₹28,608 crore allocated for Gruha Lakshmi scheme

    WhatsApp Image 2024-02-16 at 11.20.25.jpeg

    Under Gruha Lakshmi scheme, 1.17 crore women have registered till the end of January. ₹11,726 crore has been directly transferred to the account of beneficiaries. In the year 2024-25, ₹28,608 crore is provided for this scheme. 

    This money will support women to take up various income generating activities. It will also provide them with financial support for day-to-day household expenditure: Siddaramaiah

  • February 16, 2024 11:32
    Health sector takeaways from Karnataka Budget
    • Day-Care Chemotherapy Centres will be set up in each of the districts at a total cost of ₹20 crore.
    • For early diagnosis and treatment of breast cancer and cervical cancer, Digital Mammography machines will be provided to 20 district hospitals
    • Colposcopy machines will be provided to K.C. General Hospital, Bengaluru and district hospitals of Udupi, Kolar and Davanagere at the cost of ₹21 crore.
    • Fire Fighting System will be installed in 13 district hospitals at a total cost of ₹6 crore
    • To combat shortage of proper facilities for the treatment of Haemophilia and Thalassemia in Kalyana Karnataka, ₹7 crore will be provided for strengthening of ICDT centres in Kalaburagi and Koppal.
    • 100-bedded taluka hospitals will be constructed at a cost of ₹280 crore in Anekal, Nelamangala, Hoskote, Shringeri, Khanapura, Shirahatti and Yelandur talukas
    • ₹150 crore for Mother and Child Hospital building and other infrastructure facilities at the premises of K.C.General Hospital in Bengaluru
    • 46 new Primary Health Centres will be set up through KKRDB at a cost of ₹221 crore. In the current year, ₹130 crore will be provided for the construction of 199 health and wellness centres in addition to 6,493 existing centres.
    • An Inquiry Commission to conduct a judicial inquiry into the serious allegations made in the Public Accounts Committee Report of 2021 regarding the management of COVID-19 pandemic.
  • February 16, 2024 11:15
    Karnataka Public Schools to be set up, 2,000 bilingual schools to be upgraded

    “Along with improving infrastructure, the government is also committed to improving the quality of education in government schools,” CM says. To equip children to compete globally, following measures to be taken: 

    • Karnataka Public Schools will be started with the objective of providing pre-primary to pre-university education, with the help of CSR grants.
    • Marusinchana Programme at a cost of Rs.10 crore to improve learning ability of students of 6th and 7th standard who are lagging behind.
    • Rs. 50 crore earmarked for providing Science and Computer Labs and internet facility under a two-year package in Government High Schools with higher enrollment.
    • 2,000 Government Primary schools will be upgraded as bilingual schools (Kannada and English).
  • February 16, 2024 11:06
    All women-run cafes at a cost of ₹7.5 crore

    Fifty cafe hotels, run entirely by women, to be set up across the State at a cost of ₹7.5 crore. Service of local food will be the priority at these cafés.

  • February 16, 2024 10:58
    APMC Act to be amended

    WhatsApp Image 2024-02-16 at 10.56.20.jpeg

    APMC Act to be amended soon to reverse “anti-farmer” amendments.

    Read more

  • February 16, 2024 10:51
    Agriculture and Horticulture announcements

    Kisan Malls to be set up in select districts in the State. Government to set up a hi-tech commercial flower market in Bengaluru and Spice Park in Chikkamagalur district under PPP Model. Foodpark to come up in three districts. 

    A horticulture college will be established in Vijayapura district, which is famous for horticulture. Horticulture crops which retain more carbon will be recognised and carbon credits will be traded in international markets.

    Second phase of development works to upgrade silk market in Ramangara and Shidlaghatta at a cost of ₹250 crore. 

  • February 16, 2024 10:43
    ₹27,000 crore for Bengaluru Business Corridor

    Amid continued disruption and sloganeering by Opposition members, CM announces establishment of 73-km long Bengaluru Business Corridor with an allocation of ₹27,000 crore. The corridor was earlier called as Peripheral Ring Road.

  • February 16, 2024 10:38
    Opposition raises slogans against CM’s criticism of Centre

    The previous BJP government which called itself a “double engine government”, failed to get special grants of over 11,000 crore recommended by 15th Finance Commission. Union government has rejected these recommendations, CM says.

    Opposition BJP begins shouting slogans, objecting to the chief minister’s critical remarks of the Union government.

  • February 16, 2024 10:35
    GST collection to grow by 12% in 2024-25: CM

    The GSDP of Karnataka is estimated to grow 6.6% in 2023-24. Service sector by 8.7%, industry 7.5%. However, agriculture sector has contracted 1.5% due to the failure of monsoon and drought in the State.

    GST collection grew by 18% in 2023-24, and is expected to grow by further 12% in the next fiscal year, Siddaramaiah says.

  • February 16, 2024 10:31
    Budget allocates ₹23,159 crore for Energy sector

    Energy sector gets an allocation of ₹23,159 crore in the budget. More allocation to the sector to make Karnataka a pioneer in the sector again, CM says.

    The State had faced a power deficit last year.

    Solar parks will be set up in Bengaluru’s civic agency offices like BBMP, BMRCL, BDA and BWSSB offices.

  • February 16, 2024 10:25
    Guarantee schemes not a gimmick: Siddaramaiah

    CM Siddaramaiah criticises the NDA government in the Centre. Under the NDA government inequality has increased, forcing the State government to take measures for equitable distribution of resources. 

    “Our guarantee schemes are not an election gimmick. These schemes have been designed based on the feedback from people during the Bharath Jodo Yatra taken out by our party,” he says.

    Our opponents have been calling them “freebies” while also ironically trying to project them as their own guarantees on the ground, he says.

  • February 16, 2024 10:20
    Chief Minister Siddaramaiah begins his Budget speech

    Chief Minister Siddaramaiah begins his Budget speech. This is the 15th budget Siddaramaiah is presenting. CM says the budget is an articulation of the Karnataka Model, based on the principles of social justice.

  • February 16, 2024 09:46
    KRRS seeks ₹5 lakh incentive for brides marrying young farmers

    An incentive of ₹5 lakh from the government to brides marrying young farmers is among the demands placed by Karnataka Rajya Raitha Sangha (KRRS) before Chief Minister Siddaramaiah for inclusion in the coming State Budget.

    KRRS leader Badagalapura Nagendra told reporters in Mysuru that he also urged the government to sanction a loan of ₹25 lakh at simple interest to help the couple become economically strong by practising agriculture or allied activities.

    Wish list for Karnataka Budget: KRRS seeks ₹5 lakh incentive for brides marrying young farmers

  • February 16, 2024 09:43
    All eyes on the Budget

    The State Budget size is likely to cross about ₹3.5 lakh crore as against the ₹3.27 lakh crore Budget presented in 2023.

    The Chief Minister has already said on several occasions that guarantees would continue and close to ₹60,000 crore would be required annually for implementing the five guarantees which would benefit more than four crore people in the State.

    Karnataka | All eyes on Governor’s address, State Budget as parties get ready for LS polls

  • February 16, 2024 09:40
    15th Budget speech for Siddaramaiah

    Karnataka Chief Minister Siddaramaiah holds the record for having presented the most number of State Budgets in Karnataka. He has so far presented 14 Karnataka Budgets, and the 2024-25 Budget will be his fifteenth. 

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