BENGALURU: After the tumultuous two years of the pandemic, it was hope that was shining through in Chief Minister Basavaraj Bommai’s budget, which was presented on Friday with no additional burden of taxes and fuel surcharge on the common man. Understanding that the economy still needs crutches to recover from effects of Covid, he allocated Rs 55,657 crore to spur growth.
With Bengaluru going to the polls anytime soon, the focus was on the capital city, which received Rs 8,409 crore for its comprehensive development, up from Rs 7,795 crore from the previous budget — an increase of Rs 614 crore.
While the state government is yet to get clearance for the Mekedatu project, the chief minister announced Rs 1,000 crore. “There is a reason why the allocation has been made. We know at what stage the project is in,” he said at a post-budget press conference, asked why the money has been sanctioned when the project has not yet taken off. Experts said it is a reaction to Congress taking out the padayatra from Mekedatu.
He released temples, which were substantial revenue grossers for the government, from the clutches of the Endowments Department that was the long-pending demand of temple administrations. “Though states are allowed to borrow up to 3.5 per cent of GSDP (to help overcome the economic impact of Covid), we are restricting it to 3.26 per cent, showing our commitment to fiscal discipline,” he said.
Rs 100 crore for Veerashaiva board
THE state is planning to borrow Rs 72,000 crore for the present financial year. Last year, while the government had proposed to borrow Rs 67,100 crore, it was restricted to Rs 63,100 crore, the CM added. Stressing that 3Es — Employment, Education and Empowerment of the backward classes — are at the heart of his budget, Bommai announced an integrated employment policy and allocated Rs 400 crore to implement various schemes for backward classes.
He set aside Rs 100 crore each for Veerashaiva Lingayat and Vokkaliga development corporations. The Maratha Development Corporation too got Rs 50 crore. Bommai announced Pancha Mantra – Comprehensive economic and social development, upliftment of weaker sections, identification of backward regions, achieving higher development in agriculture, industry and service sector and lastly to build Nava Bharathakkagi Nava Karnataka (New Karnataka for New India). The total tax revenue of the state including GST compensation for the year 2022-23 is estimated to be Rs 1.31 lakh crore.
