National Education Policy to be replaced with State Education Policy

Bengaluru: Chief Minister Siddharamaiah set a record today, July 7, by presenting his 14th Budget for 2023-2024 in the Legislative Assembly as the Finance Minister. Siddharamaiah surpassed former CM Ramakrishna Hedge who had presented 13 Budgets.

“Development and Social justice are what Karnataka has strived for, since the times of Basavanna. I have tried to continue the tradition,” the Chief Minister said, beginning his address.

This was the first Budget after the Congress assumed power in Karnataka following its landslide victory in the May 10 Assembly elections. This is also Siddharamaiah’s seventh Budget as the Chief Minister — from 2013 to 2018. The other Budgets presented by him were when he was the finance minister in the JD(S) Government.

Total Expenditure is estimated to be Rs. 3,27,747 crore which includes Revenue Expenditure at Rs. 2,50,933 crore, Capital Expenditure at Rs. 54,374 crore, and loan repayment at Rs. 22,441 crore.

To provide for the five poll guarantees, the Government has proposed to increase the guidance value on property registrations across the state.

The Government proposes to increase the existing rates of Additional Excise Duty on Indian Made Liquor (IML) by 20 percent on all 18 slabs as per Annexure-1. It also proposes to increase the Additional Excise Duty on Beer from 175 percent to 185 percent.

There is no increase in tax for 2022-23. The target of Rs. 77,017 crore for Commercial Taxes, Rs. 15,000 crore for Stamps and Registration Department, Rs. 29,000 crore for State Excise Department, Rs. 8,007 crore for Transport Department are fixed.

Total Revenue Receipts

The Total Revenue Receipts estimated for 2023-24 is Rs. 2,38,410 crore, which includes Rs. 1,75,653 crore of Own Tax Revenue including GST compensation, Rs. 12,500 crore is anticipated from Non-Tax Revenue Devolution of Rs.37,252 crore and a Grant in Aid of Rs. 13,005 crore is estimated to receive from the Government of India. These Revenue Receipts are estimated to be supplemented by gross borrowings of Rs. 85,818 crore, non-debt capital receipts of Rs.23 crore and recovery of loans of Rs. 228 cr.

Budget HIGHLIGHTS

• Upgradation of Karnataka Exhibition Authority (KEA) premises in Mysuru
• Karnataka Archaeological Museum and Art Gallery, Mysuru, to install Augmented Reality (AR) and Virtual Reality (VR) technology.
• Focussed initiatives for branding of indigenous Coffee, Mysuru Mallige (Jasmine), Nanjangud Rasabale (Banana) and Mysuru Veelyadele (Betel Leaves).
• A total grant of Rs. 30,000 for Namma Metro.
• Rs. 100 crore for Indira Canteen.
• Rs. 10 crore for unified branding on Nandini model.
• Rs. 5 crore for small food processing entrepreneurs.
• Rs. 4000 crore per annum set aside for Shakti Yojana.
• Rs. 13,910 crore set aside for Gruha Jyothi Scheme.
• Re-launch of Krishi Bhagya Scheme.
• Government withdraws APMC Act amendment by BJP.
• Re-introduction of “Yashaswini” scheme to provide medical facilities to rural farmers.
• India’s first public hospital organ transplant at NIMHANS Bengaluru – Rs. 146 crore, an amount of Rs.30 crore provided in the current year.
• Fibro scan will be provided for the detection of cirrhosis and cancer in patients suffering from non-alcoholic fatty liver disease.
• Mahatma Gandhi National Rural Employment Guarantee scheme re-launch with an allocation of Rs 100 crore.
• Navodyama scheme with an allocation of Rs. 10 crore for value addition of agricultural produce.
• Yethinahole project to be completed to supply drinking water to Kolar, Chikkaballapura, Ramanagara, Bengaluru Rural and Tumakuru.
• Short term interest free loan up to Rs. 3 lakh will now be increased to Rs.5 lakh for farmers.
• Medium- and long-term loan at 3 percent interest up to Rs.10 lakh will now be increased to Rs.15 lakh.
• Interest subsidy up to 7 percent on bank loans up to Rs. 20 lakh to farmers for construction of godowns.
• Loan up to Rs. 7 lakh at the rate of 4 percent interest to purchase pick up van for transporting-agricultural produce and equipment.
• Govt. to try obtain clearance for Mekedatu project at the earliest.
• In memory of Karnataka Ratna Dr. Puneeth Rajkumar, Automated External Defibrillators (AED) will be installed in all District Hospitals and Taluk Hospitals to aid in the prevention of sudden cardiac arrest.
• Rajiv Gandhi University of Health Sciences (RGUHS) will establish a new medical college in Kanakapura taluk of Ramanagara district.
• Under Integrated School Development Programme, 5,000 school premises will be upgraded to Vidhyamas.
• 750 rural markets and 27,000 borewell recharge works will be implemented.