December 11, 2023


Truth Triumphs

STATE BUDGET: Generalised budget for the state

Guest column: Dr I S Prasad, President, FKCCI

Basavaraja S Bommai, Chief Minister of Karnataka has presented the State Budget today for the year 2022-23 on the happy occasion of “Azadi Ka Amrut Mahotsav”.

It is noteworthy that, the State Budget presented by Basavaraja S Bommai, Chief Minister of Karnataka coincides and compliments the Union Budget for the development of rural and urban infrastructure, helping farmers, women, scheduled caste / backward classes, laying emphasis on Industrial, Educational and Health Sectors. This State Budget is in line for providing an impetus for growth which is guided by PM’s Gati Shakti.

The Chief Minister has allocated Rs.55,657 Crore for the Economic Development of the State. We do hope that the Chief Minister would consider all our demands to support the MSME for its revival and also consider to support for affected industries.

While we are happy to note that there is no increase in the tax for the year 2022-23, we expected that the Budget provides for relief / reduction of license fees and other taxes to the affected industries.

We welcome the State Budget which provides for the inclusive development of Farm production, comprehensive development of Aspirational Taluks, development of Eco-friendly Integrated Township, formulating new curriculum for quality education as per the National Educational Policy, 2020, laying emphasis for the health sector through “Health for All : Health Everywhere” Scheme.

We also welcome the emphasis laid for the self-sufficiency in the Energy Sector by establishing 2000 megawatt capacity under Electricity Centre in Sharavathi Basin and for ensuring uninterrupted power supply by KPTCL and ESCOMs to the 15 Industrial areas.

We welcome the thrust given for the development of roads and railways for the State Development Programs and for collaborating to the Central Government for the implementation of Chennai – Bengaluru – Mysuru high speed rail corridor which will give a boost to Trade, Industry and Tourist Sectors. The proposal to encourage establishment of industries in Chitradurga, Davangere, Haveri, Dharwad and Belagavi across the Chennai – Bengaluru – Mumbai corridor is a welcome move.

We also welcome the thrust given for the comprehensive development of Bengaluru by providing necessary infrastructure facilities by “Amruth Nagaroththana” to be implemented at the cost of Rs.6,000 Crores is to be complemented.

Please follow and like us:

About Author