Stage set for CM Siddaramaiah’s 14th budget in Karnataka

Mangalore Today News Network

Bengaluru, July 07, 2023: The stage is set for CM Siddaramaiah to present his 14th State Budget of Rs 3.35 lakh crore on Friday. But the moot question is how will he manage to mop up additional resources to implement the five guarantees promised by his Congress party ahead of the May 10 Assembly elections.

 

“Where will the money come from and how will the government implement the five guarantees? There is limited scope for generating further revenues through taxes. And one option is to cut funds for some previous schemes and reprioritise expenditure. There is limited option for further borrowings. The state government has to fight for more funds from the Centre. It should ensure that there is no delay in getting funds from the Centre,’’ Prof Sankarshan Basu from IIM said.

While Siddaramaiah always prided himself on the fact that revenue surplus increased from Rs 127 crore to Rs 910 crore during his previous tenure as CM, experts said that it was a “pre-guarantee” era. Siddaramaiah presented his first budget in 1995. Then, he was a newcomer to the world of finance and budgets. He used to consult the then Finance Secretary BK Bhattacharya and Commercial Tax Commissioner K Jairaj, who were well-versed in money matters.

Jairaj said, “We had about 10-11 sessions and Siddaramaiah was a quick learner.’’ ISN Prasad, who retired as additional chief secretary a few days ago, said, “Siddaramaiah takes a lot of interest in budget preparation, gives time and effort and gets into details.’’

Meanwhile sources in the CMO said, “Siddaramaiah focussed on kayaka and dasoha, the principles of Sri Basavanna. Funds have been allocated to agriculture, industry, service sector and skill development.  Allocation of funds to Ahinda and Shudra communities is a testimony to Basavanna’s ideals.’’

Courtesy: Indian Express