Karnataka Budget balances between growth and welfare
The Hindu
Attempting a balance between economic development and social welfare, particularly on the uplift of women and children, the 16th State Budget Chief Minister Siddaramaiah presented in the Legislative Assembly on Friday clearly showed that the guarantee-led model formed the core philosophy of the Congress government.
Attempting a balance between economic development and social welfare, particularly on the uplift of women and children, the 16th State Budget Chief Minister Siddaramaiah presented in the Legislative Assembly on Friday clearly showed that the guarantee-led model formed the core philosophy of the Congress government.
The overall Budget strategy seems to be aimed at enabling private sector investment while concentrating the State’s resources on the poor and the needy to ensure opportunities.
Among other things, it set aside a whopping ₹1,56,117 crore for women and children-centric programmes, 38% of the total Budget outlay. The Budget provided financial support for five guarantees (₹51,034 crore) for achieving an equitable distribution of wealth.
The Budget announced no new taxes, except to increase the professional tax payable by salary and wage earners from ₹200 to ₹300 for February to align with the maximum limit of ₹2,500 a year.
Karnataka joined the elite club of States with the Budget size of over ₹4 lakh crore (₹4,09,549 crore) for the first time this year.
Uttar Pradesh, Maharashtra, and Tamil Nadu have already crossed the Budget size ₹4 lakh crore.
Like the previous Budget, the 2025-26 Budget has a revenue deficit, pegged at ₹19,262 crore. The borrowing is pegged at ₹1,16,000 crore, which is 28% of the Budget size.
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