Karnataka budget size to increase by ₹25,000 crore to ₹3.35 lakh crore, says CM Siddaramaiah

Karnataka CM Siddaramaiah said the state's budget is likely to increase by ₹25,000 crore to be the size of ₹3,35,000 crore.

Published on: Jun 27, 2023, 16:03:02 IST

By Yamini C S

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Karnataka Chief Minister Siddaramaiah on Monday said the state's budget, which will be tabled on July 7, is likely to be the size of ₹3,35,000 crore, news agency PTI reported.

Karnataka chief minister Siddaramaiah was speaking after inaugurating the training camp organised for the newly elected MLAs of the 16th Legislative Assembly on Monday. (ANI)

READ | Karnataka budget to be tabled on July 7, says CM Siddaramaiah

CM Siddaramaiah was speaking at the inauguration of the training camp organised for the newly elected MLAs of the 16th Legislative Assembly in Bengaluru, where he said that the budget size will increase to accommodate the additional expenses required for the smooth implementation of the Congress party's five poll guarantees.

The government will need around ₹59,000 crore to ₹60,000 crore annually to implement the poll promises without hindrances, Siddaramaiah said. "The first budget after independence was twenty one crore three lakh rupees, today it is about three lakh nine thousand crore rupees. I will be presenting a new budget on July 7. It may be (of the size) three lakh thirty to thirty five thousand crore rupees," Siddaramaiah told reporters.

READ | Will probe all scams, irregularities during previous BJP regime, says Karnataka CM

"The present budget is around three lakh nine thousand eight hundred and ninety six crore rupees, as I'm implementing the five guarantees, I will have to provide rupees forty thousand crore for it, for the remaining period. A total of fifty nine thousand to sixty thousand crore rupees is required for the five guarantees annually," he added.

The CM said that the budget will be in place from August 1.

(With inputs from PTI)

ABOUT THE AUTHOR
Yamini C S
Yamini CS is a Senior Content Producer at Hindustan Times with nearly six years of experience in digital journalism. She is part of the India News desk, where she works on a wide range of stories cutting across civic issues, city-based developments, politics, governance, public policy, breaking news, trending topics, and international affairs that have an impact on India. Her role involves tracking fast-moving developments, verifying information from official and on-ground sources, and presenting news in a clear, accessible format for a digital-first audience. A significant part of her work includes handling live blogs during major news events, such as elections, court verdicts, political developments, civic disruptions, protests, weather-related alerts, and unfolding national or international incidents. Through live coverage, she focuses on timely updates to help readers follow complex stories as they evolve. Before moving to the broader India News desk, Yamini was associated with the Bengaluru desk at Hindustan Times, where she extensively covered urban governance, infrastructure, traffic and transport issues, weather events, public grievances, and civic administration in the city. This experience strengthened her grounding in city reporting and sharpened her focus on citizen-centric journalism. She began her career as a correspondent with Reuters after completing a postgraduate diploma in journalism from the Indian Institute of Journalism and New Media. Her early training instilled a strong emphasis on accuracy, sourcing, and news ethics, which continue to shape her reporting style. Outside of work, Yamini enjoys reading across genres, listening to music, and spending time with her family, which help her maintain balance in a fast-paced newsroom environment.Read More