Karnataka Chief Minister Siddaramaiah on Friday presented the second state Budget of Rs 3,27,747 crore for the 2023-24 fiscal. This is the first after Congress assumed power in the state following its sweeping victory in the May 10 assembly elections.
CM Siddaramaiah presented a state budget of Rs 3,27,747 crore, of which Rs 2,50,933 crore has been allocated for revenue expenditure, Rs 54,374 crore for capital expenditure and Rs 22,441 crore for loan repayment.
Siddaramaiah also allocated Rs 52,000 crore for the five pre-poll guarantee schemes.”Our five guarantees will transfer Rs 52,000 cr to more than once crore families,” he said.
Siddaramaiah set a revised revenue collection target for the Commercial Tax Department for the year 2023-24 at Rs 1,01,000 crore. Follow LIVE
Highlights of Karnataka Budget 2023
- CM Siddaramaiah announced a hike of 20% in the excise duty on liquor.
- The additional excise duty (AED) on Indian Made Foreign Liquor (IMFL) was hiked by 20% while in the case of beer, the AED was hiked by 10% from 175% to 185%. The chief minister has levied 20% on all 18 slabs of excise.
- The revenue collection target for the excise department was fixed at Rs 36,000 crore for the year 2023-24.
- CM Siddaramaiah allocated Rs 37,587 Crores for Education and Rs 24,166 Crores for Women and Child Development in the second budget of the 2023-24 fiscal. This is 11% and 7% of the total budget allocation respectively.
- CM further allocated Rs 14,950 Crores, which is 4% of the total budget, for Health and Family Welfare.
- The Karnataka government is set to revise the guidance values for all immovable properties and the revenue collection target for the Stamps and Registration Department has been fixed at Rs 25,000 crore.
- Siddaramaiah allocated Rs 52,000 crore for the five pre-poll guarantees.
- Rs 30,000 Crore has been allocated to the ‘Gruha Lakshmi’ scheme under which, Rs 2,000 will be provided every month to the women “in the women-headed households”.
- Rs 13,910 Crore has been allocated to ‘‘Gruha Jyoti Yojana’, under which, up to 200 units of free electricity will be provided which will benefit about 2.14 crore household consumers.
- Rs 10,000 Crore has been allocated to the ‘Anna Baghya’ scheme, under which, 10 kg of rice will be provided to every member of a BPL household.
- CM Siddaramaiah also allocated Rs 450 crore for the ongoing construction works of medical colleges and hospitals across the state.
- A public hospital dedicated to organ transplants will be built at NIMHANS in Bengaluru at the cost of Rs 146 crore.
- CM Siddaramaiah also reiterated the Congress government’s commitment to protecting the brand Nandini and increasing milk production.
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