Daijiworld Media Network- Bengaluru

Bengaluru, Mar 7: Chief Minister Siddaramaiah presented the Karnataka Budget for the fiscal year 2025-26, emphasizing that the government's guarantee schemes are strategic investments addressing economic and social concerns, rather than mere freebies.

The budget outlines a total expenditure of Rs 4,09,549 cr, comprising Rs 3,11,739 cr for revenue expenditure, Rs 71,336 cr for capital expenditure, and Rs 26,474 cr for loan repayment. The fiscal deficit is projected at Rs 90,428 cr (2.95% of GSDP), with a revenue deficit of Rs 19,262 cr (0.63% of GSDP). The state has maintained fiscal discipline, adhering to the fiscal deficit norm of 3% of GSDP and a debt-to-GSDP ratio of 25% over the past two budgets.

An allocation of Rs 51,034 cr has been made for the implementation of various guarantee schemes in the current fiscal year. These schemes aim to uplift marginalized communities and stimulate economic growth. Despite concerns about the financial burden, the Chief Minister assured that the government is maintaining fiscal discipline while prioritizing public welfare.

The opposition BJP and JD(S) criticized the budget, labeling it as lacking vision and imposing a significant financial burden on the state. Former Chief Minister BS Yediyurappa 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.

In response to the criticism, Chief Minister Siddaramaiah reiterated that the guarantee schemes are strategic investments aimed at addressing economic and social concerns, rather than mere freebies. He emphasized the government's commitment to maintaining fiscal discipline while implementing these welfare programmes.