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Karnataka CM Siddaramaiah reveals robust Rs 3.80 lakh crore budget for FY 2024–25

Chief Minister Siddaramaiah of Karnataka has revealed that the upcoming budget for the fiscal year 2024–25 will witness a budget of ₹3.80 lakh crore. Emphasising the continuity of five crucial guarantee schemes, the Chief Minister assured the public that these programmes, namely Shakti, Gruhalakshmi, Gruhajyoti, Annabhagya, and Yuvanidhi, will remain steadfast, dispelling concerns about financial instability. 

Karnataka CM Siddaramaiah reveals robust Rs 3.80 lakh crore budget for FY 2024-25
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First Published Jan 30, 2024, 1:22 PM IST

Addressing the media in Tumakur, Siddaramaiah highlighted that the implementation of these guarantee schemes has not only shielded the state from financial turmoil but has also paved the way for substantial developmental initiatives. Contrary to sceptics who questioned the sustainability of these programmes, the Chief Minister affirmed that the government's commitment to these schemes has not fluctuated. 
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The Chief Minister, reflecting on the previous fiscal year's budget of Rs. 3.27 lakh crore, underscored the government's dedication to launching diverse development projects across the state. With an increase to Rs. 3.80 lakh crore for the upcoming budget, Siddaramaiah expressed confidence that this substantial allocation will fuel a surge in development activities throughout Karnataka. Notably, Siddaramaiah debunked any notion that the government's coffers were running dry.

He asserted that the guarantee schemes had not led to financial bankruptcy but, on the contrary, had become a catalyst for economic resilience. Furthermore, Siddaramaiah sought to quell concerns about the halt of development programmes due to the implementation of guarantee schemes. On the contrary, he pointed out that these initiatives have led to the initiation of new projects, illustrating the government's proactive stance towards fostering growth. 

The Chief Minister also highlighted the positive impact of guarantee schemes on the purchasing power of citizens. By addressing the challenges posed by rising prices, these programmes aim to enhance the economic well-being of the people. Siddaramaiah affirmed that the government's commitment to socio-economic empowerment remains unwavering.

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