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Karnataka Budget 2024-25: CM Siddaramaiah Announces 3.71 Lakh Crore Budget; Key Highlights

Karnataka Chief Minister Siddaramaiah on Friday presented his 15th Budget. The state's budget outlay stands at Rs 3.71 lakh crore this year. He pointed out that the state government has accorded administrative approval for works under Namma Metro Phase-III at an estimated cost of Rs 15,611 crore.

CM Siddaramaiah Announcing Karnataka Budget in State legislative Assembly
CM Siddaramaiah Announcing Karnataka Budget in State legislative Assembly

By ETV Bharat English Team

Published : Feb 16, 2024, 10:00 PM IST

Updated : Feb 16, 2024, 10:54 PM IST

Bengaluru:Karnataka Chief Minister Siddaramaiah on Friday presented the 15th Budget, announcing an outlay of Rs.3.71 lakh crore for the state this financial year. While presenting the Budget the Chief Minister said, ''It was Mahatma Gandhi's wish to wipe everyone's tears. This may be beyond our limits. I have presented the welfare-based Budget with the vision of envisioning an integrated and prosperous Karnataka to provide the necessary support to the common people, farmers, youth and the marginalised sections of society, who are suffering from increasing inequality and unemployment," the Chief Minister said.

''Special grants have been given in the budget for priority sectors, including agriculture, irrigation, water resources, health, education, women's empowerment and infrastructure development in rural areas. The state government has decided to implement the 'Karnataka Raita Samriddhi scheme' to promote integrated agriculture".

"It has been decided to re-implement the 'Krishi Bhagya scheme, along with providing better marketing facilities for the crops grown by the farmers. A grant of Rs 200 crore has been provided for the scheme,'' Siddaramaiah said during his Budget speech.

"The 'Namma Millet scheme' will be launched for the promotion of cereals. 'Kisan Mall' will be set up in selected districts for the promotion of the horticulture sector. The government has also taken steps to establish a horticulture college in Alamela in Vijayapur district and a Spices Park in Chikkamagaluru district,'' he said.

''Prioritising value addition of cereals through our new Namma Millet scheme. Withdrawal of APMC act, start construction work of balancing reservoir for Yettinahole water project. Construction of Solar Park on the model of Pavagada Solar Park in the backwater areas of Water Resources Department reservoirs. Implementation of State Education Policy and development of Government Higher Education Institutions in partnership with alumni through an innovative programme called 'Beru Chiguru'. Upgradation of technical education through the 'Prerana scheme' is a major component of the budget," he pointed out.

The Chief Minister said that by March 2025, an additional 44 km will be added to the existing 74 km of Metro lines. Furthermore, Metro Rail project Phase-II and Phase-IIA from Outer Ring Road to the Airport Road will be completed by June 2026. He announced that the Metro Rail Service in the city has become profitable (operational profit) for the first time in its history this year.

Siddaramaiah also pointed out that the state government has accorded administrative approval for works under Namma Metro Phase-III at an estimated cost of Rs 15,611 crore. Approval of the Central government is awaited, he said. A draft Detailed Project Report (DPR) is being prepared for the construction of a Metro Line from Sarjapura to Agara, Koramangala, Dairy Circle and connecting to Hebbal via Mekhri Circle under Namma Metro Phase-3A. This project will also be submitted to the Centre for approval, the Chief Minister said.

A feasibility report will be prepared for extending Metro Rail from Bengaluru International Exhibition Centre to Tumakuru and Kempegowda International Airport in Bengaluru to Devanahalli through a Public Private Partnership, Siddaramaiah said. Stating that the Bengaluru Suburban Rail Project (BSRP) had been moving at a 'snail's pace,' he said it had picked up momentum after his government assumed power.

A vehicle tracking mobile app with women's safety features is being developed by the BMTC for the benefit of commuters, he informed the House. Devanahalli, Nelamangala, Hoskote, Doddaballapura, Magadi and Bidadi towns in the vicinity of Bengaluru will be developed as satellite townships with road and rail connectivity, he added.

The New Textile Policy 2024-29 will be formulated for the development of the textile and weaving sector, the Chief Minister announced. Through this, a capital investment of Rs 10,000 crore is expected, along with the generation of two lakh jobs. This policy will also promote greater investment and employment opportunities, he added. The Chief Minister also announced that mini-textile parks will be set up in 25 districts of the state for which subsidies will be provided with the existing policy.

Highlights:

• Implementation of ‘Karnataka Raitha Samruddhi Yojane’ will encourage integrated farming by consolidating various pro-farmer schemes.

• Formation of Agriculture Development Authority under the Chairmanship of the Chief Minister will facilitate the effective implementation of policies related to agriculture and allied activities coming under various departments.

• State-of-the-art international floriculture market will be established in Bengaluru city under Public Private Partnership.

• Rs 7 crore for the purchase of a sea ambulance for the protection of fishermen.

• During this year, the target of providing a record crop loan of Rs 27,000 crore to more than 36 lakh farmers in the state.

• The State government will urge the Central government to announce minimum support price for important crops such as areca nut, onion, grapes, mango, banana and other horticultural crops

• The Anna-Suvidha programme will be launched to facilitate senior citizens above the age of 80 years by door delivery of food grains.

Last Updated : Feb 16, 2024, 10:54 PM IST

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