Additional duty on excise hiked, guidance value of property revised, higher targets set for Revenue Department to increase state's revenues.
Chief Minister Siddaramaiah presenting the budget. (Supplied)
Karnataka Chief Minister Siddaramaiah presented his 14th budget on Friday. Following weeks-long meetings with all departments and ministries, the budget for 2023-2024 proved to be a challenge since the newly-elected Congress government had to allocate funds for its five poll guarantees that fueled its poll victory.
The five guarantees — Gruha Jyothi, Shakti, Gruha Lakshmi, Yuva Nidhi, and Anna Bhagya — are estimated to cost the exchequer around ₹52,000 annually, Siddaramaiah said.
For the very first time, Siddaramaiah presented a revenue deficit budget on Friday with revenue expenditure exceeding revenue receipts of the State.
Siddaramaiah has increased taxes and revised targets for departments to enhance revenue receipts while also increasing borrowings. Here is how the budget speech unfolded:
May 12, 2024
May 12, 2024
May 12, 2024
May 11, 2024
May 11, 2024
May 11, 2024
