Karnataka Budget: Govt Putting Rs 52,000 Crore In The Hands Of Crores Of People, Says Siddaramaiah
Siddaramaiah said Karnataka's contribution to GST collections but lamented the state's loss of Rs 59,274 crore due to what he termed the "unscientific implementation" of GST by the Centre
Presenting the state Budget for 2024-25 in the Legislative Assembly, Karnataka Chief Minister Siddaramaiah on Friday said through the five guarantee schemes, the government is putting Rs 52,000 crore in the hands of crores of people during 2024-25. This was Siddaramaiah's record 15th Budget as finance minister of Karnataka, and the second under the present Congress regime.
Addressing the assembly, Siddaramaiah emphasised the government's commitment to the welfare of its citizens, highlighting the introduction of five guarantee schemes aimed at injecting Rs 52,000 crore into the hands of millions of people throughout the fiscal year 2024-25. These initiatives, he stated, are designed to empower individuals and families across the state, fostering economic growth, and social equity.
Siddaramaiah reiterated the government's dedication to the 'Karnataka Model of Development', grounded in principles of justice, equality, and fraternity enshrined in the Constitution. He criticised the central government for neglecting its responsibilities and failing to address crucial issues such as widening inequality and crony capitalism, asserting that the state government has stepped in to fill the void left by the Centre.
The chief minister highlighted the success of the guarantee schemes in generating employment opportunities and boosting purchasing power, emphasising their role in creating a more equitable society through wealth redistribution. He cited international recognition of Karnataka's efforts, indicating that the positive economic and social impacts of these schemes would continue to unfold over time.
In response to criticism from opponents, Siddaramaiah dismissed accusations of electoral opportunism, asserting the sincerity and effectiveness of the government's initiatives. He announced proposed revisions to tax slabs for Indian Made Liquor (IML) and beer, aimed at enhancing competitiveness and rationalising the tax structure in line with neighbouring states.
Looking ahead, Siddaramaiah outlined plans to bolster economic infrastructure, including investments in expressways, rural roads, airports, and urban public transport. He reaffirmed the government's commitment to positioning Karnataka as a leader in energy production and transforming Bengaluru into a global city with top-tier infrastructure.
Addressing concerns about GST revenue, Siddaramaiah noted Karnataka's significant contribution to GST collections in the country but lamented the state's substantial loss of Rs 59,274 crore due to what he termed the "unscientific implementation" of GST by the central government over the past seven years.
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