The Chief Minister of Karnataka, Siddaramaiah, on Friday offered the state price range for the monetary 12 months 2025-26 within the Legislative Meeting and acknowledged that the federal government launched a brand new Industrial Coverage 2025-30 that goals to create 20 lakh jobs by 2030. 

Karnataka is poised to realize a GSDP progress charge of seven.4 p.c, outpacing the nationwide progress charge of 6.4 p.c, Siddaramaiah acknowledged. He additional stated, “Karnataka is likely one of the fastest-growing states in India, contributing 8.4 p.c to the Nationwide Gross Home Product (GDP).”

Key Selections In Funds 2025-26

1. Assure Schemes:

The Karnataka authorities allotted Rs. 51,034 crores for the implementation of varied assure schemes within the present fiscal 12 months.

Siddaramaiah additionally talked about that the federal government has managed these ensures whereas sustaining fiscal self-discipline, adhering to the fiscal deficit norm of three p.c of the Gross State Home Product (GSDP) and a debt-to-GSDP ratio of 25 p.c over the previous two budgets.

2. Agriculture Sector’s Growth: 

The Karnataka CM stated that the agriculture sector has registered a optimistic progress of 4 p.c in 2024-25 after registering a progress charge of -4.9 p.c within the earlier 12 months. Moreover, he emphasised that this progress has additionally outpaced this 12 months’s all-India agricultural progress charge of three.8 p.c. 

He additionally credited the expansion of the agriculture sector to the federal government’s proactive interventions to encourage Kharif sowing, regular monsoon, and sufficient reservoir ranges. 

In line with IANS, Rs 44,000 crores was allotted to numerous departments for farmer welfare schemes within the earlier 12 months. This 12 months, the state authorities has allotted Rs 51,339 crores for the farming sector.

3. Infrastructure Improvement:

The state authorities has additionally launched the Chief Minister’s Infrastructure Improvement Program (CMIDP) with an funding of Rs 8,000 crores and can give attention to enhancing minor irrigation, street networks, and concrete infrastructure throughout all legislative meeting constituencies, ANI acknowledged.

4. Industrial Coverage 2025-30:

The federal government has launched an Industrial Coverage 2025-30 that goals for industrial progress at 12 p.c and to create 20 lakh jobs by 2030. Commending the economic sector, CM Siddaramaiah stated that it has achieved 5.8 p.c progress within the present 12 months, and to draw massive investments, the federal government has dedicated monetary help and subsidies of Rs 13,692 crores. 

5. Deal with Corruption and Enhance Residents’ Belief within the Authorities:

The federal government will introduce a brand new counseling-based switch system for Group-B and Group-C posts throughout key revenue-generating departments. These departments will embody Business Tax, Excise, Stamps and Registration, Transport, and Mines and Geology.

 

Moreover, as per ANI, technology-driven governance measures can be applied. Over Rs 1 lakh crore has already been straight transferred to beneficiaries’ financial institution accounts, eliminating intermediaries. Additionally, Rs 233 crores, on common, have been disbursed per meeting constituency underneath the federal government’s assure schemes to strengthen residents’ belief within the administration.

6. Service Sector’s Dominance:

CM Siddaramaiah, within the price range presentation, additionally acknowledged that the service sector is the dominant element of the financial system of the state, accounting for 66 p.c of Karnataka’s Gross Worth Added (GVA).

The sector has achieved a progress charge of 8.9 p.c within the 12 months 2024-25, exceeding the nationwide common progress charge of seven.2 p.c, CM Siddaramaiah stated.

In line with ANI, insurance policies in tourism, IT, and biotechnology are anticipated to usher in investments price Rs 1 lakh crores, with Rs 13,500 crores dedicated towards subsidies and monetary help.

7. Income-Sharing Between State and Centre:

Karnataka has advocated for a fairer revenue-sharing mechanism with the central authorities, proposing a 50 p.c share of the divisible pool for states, ANI reported. Karnataka has additionally referred to as for capping cesses and surcharges at 5 p.c of gross tax income, with extra funds being a part of the divisible pool.

Furthermore, state income is anticipated to develop by 10.3 p.c year-on-year in 2024-25, with non-tax income projected at Rs 14,500 crores, reflecting a ten.5 p.c enhance from the earlier 12 months. To additional improve non-tax income, the federal government has shaped a Useful resource Mobilization Committee, which has submitted its interim suggestions. 

Then again, the Karnataka BJP launched an assault on the Congress’ price range of the state and posted on X, “Rip-off CM @siddaramaiah in Karnataka presents a Halal Funds—appeasement at its peak!”

Rip-off CM @siddaramaiah in Karnataka presents a Halal Funds—appeasement at its peak!

Reservation for Muslims in authorities contracts

₹50,000 help for Muslim easy marriages

₹150 crore for infrastructure improvement of Waqf properties & graveyards

₹50 lakh… pic.twitter.com/Ts3ZrnYai1
— BJP Karnataka (@BJP4Karnataka) March 7, 2025

(with businesses’ inputs)