The finances has proposed a revenue surplus of ₹402 crore, breaking the development of revenue deficit budgets for the previous two years
February 17, 2023 10:08 am | Updated 02:35 pm IST
Karnataka Chief Minister Basavaraj Bommai presents the State Budget 2023 on February 17, 2023
| Photo Credit:
CM’s Office
Aided by a buoyant financial system, Karnataka Chief Minister Basavaraj Bommai introduced a ‘please-all’ revenue surplus finances with no tax hike on February 17, lower than 100 days forward of Assembly elections within the State. The finances outlay has, for the primary time, crossed the ₹3 lakh crore mark, and is pegged at ₹3,09,182 crore, up from ₹2,65,720 lakh crore in 2022-23.
Fiscal deficit has been reined in at ₹60,581 crore, or 2.60% of Gross State Domestic Product (GSDP). With borrowings of ₹77,750 crore, the liabilities on the finish of 2023-24 are pegged at ₹5,64,896 lakh crore, or 24.20% of GSDP, thereby satisfying all parameters of Karnataka Fiscal Responsibility Act, 2002.
The finances has proposed a revenue surplus of ₹402 crore, breaking the development of revenue deficit budgets for the previous two years, when the budgets didn’t adjust to the Karnataka Fiscal Responsibility Act, 2002.
Also learn: Ceiling for interest-free loans to farmers elevated from ₹3 lakh to ₹5 lakh
The Budget speech can be being seen as a ballot pitch for the ruling BJP and an train in “articulating the legacy” of Mr. Bommai. CM Bommai had earlier described the Budget as a “Budget for the voiceless”, with a deal with “farmers, working class, poor, and women”, setting its political tone.
Here are the newest updates:
-
February 17, 2023 14:00
Record variety of airports underway within the State
- Feasibility report has already been ready for the development of airports in Davangere and Koppal districts. Actions might be taken to begin building this 12 months.
- Record variety of 5 new airports work in Shivamogga, Vijayapura, Hassan, Raichur and Karwar districts. Shivamogga and Vijayapura airport to be accomplished this 12 months itself, CM says.
- Administrative approval has already been given for building of Ballari airport, to be developed beneath PPP mannequin by way of aggressive bidding course of.
- Steps have been taken for upgradation of Mysuru airport with an allocation about Rs. 320 crore
-
February 17, 2023 13:37
Transport: Here’s what the Budget affords
- For induction of recent buses, an allocation of Rs. 500 crore has been supplied to street transport firms. This will assist firms to acquire a complete of 1,200 buses.
- “Chief Minister Insurance Scheme” for auto, taxi, truck drivers and other people counting on gig financial system. An insurance coverage cowl of Rs. 4 lakh has been introduced.
- New automated testing tracks might be opened in locations resembling Yelahanka, Kasturinagar, Tumakuru, Haveri, Sagara, KGF, Chintamani and different locations, with an allocation of Rs. 85 crore
- Utilising “Green Tax” sources, electrical automobiles charging factors might be arrange at authorities places of work and depots of street transport firms
- State authorities allocates Rs 1000 crore for the Bengaluru Suburban Rail challenge. First attain to be accomplished by 2024-25.
-
40 km of metro strains beneath Phase II might be made operational this 12 months.
-
To present higher street connectivity to Sir M Visvesvaraya Terminal in Baiyappanahalli, an allocation of Rs. 300 has been made.
-
February 17, 2023 13:21
CM winds up Budget speech
CM Bommai’s Budget 2023-24 speech lasted for over two-and-a-half hours. He ended the final Budget of his authorities’s time period with estimates for the monetary 12 months.
The state’s personal tax revenue for 2023-24 is estimated at Rs 1.64 lakh crore. Rs 11,000 crore might be collected as non-tax revenue. The state authorities expects to obtain Rs 37,252 crore as its share of central taxes and Rs 13,005 crore as grants from the Central authorities.
For the primary time in Karnataka, post-Covid the revenue receipt is anticipated to be greater than revenue expenditure by Rs. 402 crore.
This is a revenue surplus finances. The fiscal deficit is anticipated to be Rs 60,581 crore which is 2.6% of GSDP. Total liabilities on the finish of 2023-24 are estimated at Rs 5,64,896 crore, which is 24.2% of GSDP.
-
February 17, 2023 13:11
Tourism initiatives introduced beneath Budget 2023-24
-
CM proposes constructing “majestic Rama Mandira” in Ramadevarabetta, Ramnagara district.
- Anjanadri Hills in Koppal district to be developed at a value of ₹100 crore
- Ropeway challenge close to Nandi Hills to be accomplished in present monetary 12 months.
- Jungle Lodges and Resort property to be developed close to backwaters of Manchanabele dam in Ramanagaram district at a value of ₹10 crore
-
-
February 17, 2023 12:30
Sector 4: Education
- Under PM SHREE scheme, CM allocates Rs. 100 crore to develop the infrastructure in choose colleges
- Budget allocates Rs. 86 crore to construct 5,581 bathrooms in colleges and schools throughout the state
- Under Viveka scheme, 1,955 further class rooms might be constructed with an expense of Rs. 382 crore
-
Incentives elevated to ₹4 lakh from ₹2 lakh this 12 months for Scheduled Tribe college students who get admissions at national-level instructional establishments like IIT, IIM, IIS, NIT
-
February 17, 2023 12:13
More personnel, upgradation of police stations
- Two extra FSL labs to be arrange in Shivamogga and Tumakuru districts.
-
To strengthen Bengaluru police, 2,000 extra personnel might be recruited at numerous ranges. ₹50 crore grant to buy new automobiles.
-
CM says spent ₹348 crore for building of police stations and places of work, and for upgradation and modernisation in 2022-23. Under new Budget, ₹410 crore might be used for building of prisons and ₹51 crore for upgradation.
-
February 17, 2023 12:02
Ovr 2 lakh homes to learn from ‘Belaku’ electrical energy scheme
- Electricity connection to 2.35 lakh households at a value of ₹125 crore beneath Belaku scheme.
- KPTCL to take a position ₹300 crore on creating 50 new energy sub-stations, 1060 circuit kilometres of transmission strains and strengthening the capability of 100 present sub stations.
-
February 17, 2023 11:34
Bengaluru infrastructure will get Budget push
- Tourism circuit in Bengaluru to familiarise vacationers with the historical past of the town and its founder Kempegowda, CM Bommai’s finances mentioned.
- ₹1,000 crore for white-topping 120 km of street in Bengaluru, and one other ₹450 crore for asphalting 300 km of arterial and sub-arterial roads in metropolis.
- To mitigate floods in Bengaluru, with World Bank help, ₹3,000 crore allotted to mitigate results of local weather change & floods.
- ₹150 crore for creating 75 vital junctions in Bengaluru to decongest visitors.
- ₹9,698 crore for complete growth of Bengaluru
-
February 17, 2023 11:29
CM allocates funds for renovation of temples, mutts
- Karnataka finances supplies for Rs. 425 crore for renovation of temples and mutts by Hindu Religious and Charitable Endowments Department.
- Karasamadhana Scheme for GST and Excise tax arrears and penalty by waiving it off if paid earlier than June 30.
- Professional Tax exemption restrict raised from Rs. 15,000 to Rs. 25,000 per 30 days.
-
February 17, 2023 11:11
Sector 3: Health
- CM declares 250 ‘She Toilets’ at the price of ₹50 crore. The bathrooms might be constructed in closely populated markets and mega business complexes of Bengaluru metropolis. The state-of-the-art design will embrace bathrooms, feeding rooms, SOS emergency service and so forth.
- Giving precedence to early detection of non-communicable ailments, State Budget proposes mapping 45 taluk hospitals to Jayadeva Hospital and begin branches of Kidwai in Shivamogga, Kalaburgi and Mysuru.
- Proposal to start out Vatsalya scheme for well being check-up of youngsters from 0-6 years of age, twice a 12 months in rural areas
- CM declares proposal to start out six new ESI hospitals, 28 group well being centres and 10 girls and kids hospitals.
- Department of Women and Child Development to be bifurcated into the Department of Child Nutrition and Department of Women Empowerment.
- CM Bommai declares ‘Gruhini Shakthi Yojane’. Under this, a brand new scheme referred to as ‘Shrama Shakthi’ might be launched providing monetary help of Rs. 500 per head per 30 days might be supplied to landless girls farm labourers beneath DBT.
- Free ability growth coaching to 1 lakh girls might be supplied within the present fiscal.
- Under ‘Arogya Pushti’, eligible married girls might be supplied with mid-day meals and different advantages for six months, as soon as in a lifetime. Also, free bus passes might be given to all girls working within the organised sector.
-
₹500 crore allotted to arrange a brand new medical school in Chitradurga.
-
PG programs launched at Mandya and in Hassan Institute of Medical Sciences, with a brand new 450-bed hospital in Chamarajanagar to offer tertiary care providers
-
Super-speciality hospital in Kumta, Uttara Kannada district to come back up this 12 months.
-
Hospital on the strains of AIIMS in Raichur
-
February 17, 2023 11:10
CM declares scheme for Mudhol hound
A scheme of Rs. 5 crore to develop Mudhol Hound an indigenous canine breed, canine lovers to be inspired to undertake them.
-
February 17, 2023 11:05
Sector 2: Welfare and Inclusive Growth
- Honorarium of Anganawadi employees, cooks, ASHAs and librarians to be elevated by Rs. 1,000
- CM introduced ‘CM Vidya Shakti Scheme’, beneath which free schooling might be supplied to college students purusing greater schooling in Government PU and diploma schools. Scheme to learn 8 lakh college students
-
State allocates Rs. 100 crore to street transport firms to function devoted buses for college kids referred to as ‘Makkala Bus’.
-
Fee of scholars who’ve accomplished college in rural authorities Kannada medium colleges and are chosen for skilled programs beneath authorities quota might be borne by Karnataka Examination Authority (KEA).
-
CM proposes modification to PTCL Act to guard the lands belonging to SC/ST communities.
-
To keep away from delay in Ganga Kalyana scheme, authorities to switch quantity by way of e-rupee direct profit scheme for beneficiaries
-
February 17, 2023 10:44
Sector 1: Agriculture and Allied Activities
- Over 30 lakh farmers within the state acquired agriculture mortgage to the tune of Rs. 25,000
-
CM declares Rs. 10,000 crore for the event of Bengaluru forward of Assembly elections and BBMP election.
-
Key guarantees to farmers
- Interest-free loans for farmers will improve from ₹3 lakh to ₹5 lakh
- Bhoo Siri, a scheme for farmers, set to learn 50 lakh farmers
- Jeevan Jyothi Insurance scheme for farmers and households price ₹150 crore
- ₹50 crore for the scheme to acquire 100 harvesters to farmers
- ₹10 lakh funding per Farmer Produce Organisations
- 1,000 small tanks to be developed
- Jala Nidhi, a scheme to enhance groundwater, might be taken up beneath MNREGA
-
February 17, 2023 10:33
CM Bommai begins Budget presentation
Karnataka financial system has seen revival after droop throughout COVID years. Revenue technology has seen an upward swing, with 20% improve in revenue from numerous sources, says Mr. Bommai. “I am proud to say that I am able to present a revenue surplus budget,” CM declares
-
February 17, 2023 10:23
Siddaramaiah and Opposition leaders protest towards Budget
Opposition Congress, led by Leader of Opposition Siddaramaiah, create a ruckus as Bommai begins Karnataka Budget 2023-24 presentation on “unmet promises” of the final Budget. All Congress leaders place a flower on their ear as a symbolic protest towards the finances.
-
February 17, 2023 10:12
CM Bommai visits temples earlier than reaching Vidhan Saudha
After visiting Srikanteshwara Temple in RT Nagar and Maruthi temple in Balabrooie in Bengaluru, Karnataka Chief Minister Basavaraj Bommai arrives at Vidhana Soudha forward of Budget 2023 presentation right now. This Budget marks the final Budget of Mr. Bommai led BJP authorities of this time period.
