Bengaluru (Karnataka) [India], March 7 (ANI): Karnataka Deputy Chief Minister DK Shivakumar on Friday lauded the 2025 state budget as a gift to the people of Karnataka.
Speaking to reporters at Vidhana Soudha, he said, "The budget has a lot for Bengaluru City-specific projects. It has an allocation of Rs 1 lakh crore capex for development projects besides guarantee schemes. The budget gives priority to all sectors, including irrigation and public works. If you say the State has a lot of debt, the Centre has debt too. This is a budget which has kept its word."
"I have been in public life for 36 years, and I can tell you this is a far-sighted and historic budget that provides justice to all segments of society," he added.
When pointed to the BJP leader's criticism that this was a budget appeasing the Muslim community, he said, "All segments need to be taken care of."
Meanwhile, Karnataka Minister Satish Jarkiholi says, "There are seven to eight sub-castes in the minorities - Parsi, Jain. We want to provide benefits to all..."
Ahead of this, Karnataka Chief Minister Siddaramaiah, while presenting the Budget, claimed that the state government has maintained the fiscal deficit of the state for the financial year 2025-26. The total expenditure estimated for the financial year 2025-26 is Rs 4,09,549 crores, which includes revenue expenditure of Rs 3,11,739 crores, capital botem expenditure of Rs 71,336 crores and loan repayment of Rs. 26,474 crores.
According to the Karnataka government's Budget for the financial year 2025-26, the revenue deficit is estimated to be Rs. 19,262 crores, which is 0.63 per cent of the Gross State Domestic Product (GSDP). The Fiscal Deficit is estimated to be Rs 90,428 crores, which is 2.95 per cent of the GSDP.
Total liabilities at the end of 2025-26 are estimated to be Rs. 7,64,655 crores, which is 24.91 per cent of GSDP. "By keeping fiscal deficit and total outstanding liabilities within the limits mandated under the Karnataka Fiscal Responsibility Act, we have maintained fiscal discipline in the financial year 2025-26," said the Chief Minister.
The Karnataka government, in this Budget, has given priority to basic infrastructure in Bengaluru city and announced measures to battle traffic congestion in the city. In this budget, the yearly grant of Rs. 3,000 crores that was being provided to Bengaluru City has been enhanced to Rs 7,000 crores in the current year.
Additionally, a new Special Purpose Vehicle will be established to utilise these grants and implement major developmental works on priority. According to the Budget, Bruhat Bengaluru Mahanagara Palike (BBMP) has yielded an additional revenue of Rs 4,556 crores through various reforms and substantially increasing property tax collection.
The government has stood as a guarantee to Bruhat Bengaluru Mahanagara Palike (BBMP) for an amount of Rs. 19,000 crores for undertaking the North-South and the East-West corridors (tunnels) at a cost of Rs. 40,000 crores.
To mitigate vehicular congestion and to intended to make major roads of Bengaluru ensure smooth movement of traffic, a 40.5 km double decker flyover will be constructed at a cost of Rs. 8,916 crores along with Namma Metro Phase - 3 Project. (ANI)
