Chief Minister Siddaramaiah announced that the budget for the ongoing year is scheduled to be presented on June 7, with an estimated size of around Rs 3.35 lakh crore.
He made this announcement during the inauguration of a three-day training camp for the recently elected members of the state’s 16th Legislative Assembly, held at the SDM Institute of Naturopathy Kshemavan in Nelamangala.
When Chief Minister Kengal Hanumantiah first presented Karnataka’s budget, it amounted to Rs 21 crore. However, in the recently presented budget, the size increased significantly to Rs 3.9 lakh crore. This time, the upcoming budget is expected to grow by approximately Rs 30 to 35 thousand crore. Additionally, the government has announced five guarantees that will require dedicated funding. As a result, the budget size will be expanded to accommodate the allocation of around Rs 59 to 60 thousand crore for the implementation of these guarantees.
The Chief Minister emphasized that the upcoming budget will be implemented starting from August 1. It is crucial for both MLAs and MPs to comprehend the significance of the budget. Referring back to the 12th century, Kayakayogi Basavanna discussed the concept of budget and highlighted key aspects: Kayaka, meaning production, and Dasoha, meaning sharing. He astutely analyzed that the essence of the budget lies in understanding the source of production and how it is distributed among different segments of society.
