Synopsis
On February 6, Department-wise pre-budget meetings commenced at CM Siddaramaiah's official residence in Bengaluru. This marks his 16th budget as Finance Minister, with discussions scheduled until February 14.Key Takeaways
- Department-wise pre-budget meetings initiated.
- CM Siddaramaiah's 16th budget as Finance Minister.
- Budget date likely to be announced in the next Cabinet meeting.
- Focus on development and infrastructure funding.
- Opposition criticizes the government's borrowing strategy.
Bengaluru, Feb 6 (NationPress) Under the leadership of Chief Minister Siddaramaiah, department-specific pre-budget discussions commenced at the official residence of the Karnataka Chief Minister on Thursday.
This marks CM Siddaramaiah’s 16th budget as the Finance Minister throughout his extensive four-decade career.
Present at the meeting were Minister for Large and Medium Industries M.B. Patil and senior officials from the relevant departments.
Also in attendance were CM Siddaramaiah’s economic advisor and MLA, Basavaraj Rayareddy, Additional Chief Secretary to CM L.K. Atheeq, along with other senior officials.
According to sources, the Karnataka government is aiming to convene a joint session in the first week of March, followed by the unveiling of the budget.
The pre-budget discussions for various government departments are scheduled from February 6-14.
The government is anticipated to finalize and announce the budget date in the upcoming Cabinet meeting.
Chief Minister Siddaramaiah has resumed his schedule after a two-day pause due to knee pain and will now conduct a series of meetings with all ministers.
Reports indicate that CM Siddaramaiah is preparing to unveil the 2025-26 budget in March, which is projected to reach Rs 4 lakh crore.
To lead the Finance Department ahead of the 2025-26 Budget, CM Siddaramaiah has appointed Ritesh Kumar Singh, a Harvard alumnus.
Previously, CM Siddaramaiah presented a budget of Rs 3.71 lakh crore for 2024-25. The state government allocates Rs 52,000 crore annually for five guarantee schemes.
Sources have revealed that the state government faces challenges concerning the funding of these five guarantee schemes, which are regarded as flagship initiatives of the Congress party at the national level.
Despite this, Congress legislators and ministers advocate for increased funding aimed at development, infrastructure projects, and the growth of Bengaluru and other major cities in the state.
Earlier, Karnataka Leader of Opposition (LoP) R. Ashoka criticized the state government, alleging plans to borrow Rs 1 lakh crore in this budget once more.
“The government intends to borrow Rs 1 lakh crore in this budget. During the BJP’s administration, we achieved surplus budgets without incurring debt. Since Congress took charge, Karnataka has become a state burdened by debt. They are steering the state toward a scenario where it may have to rely on others, much like Kerala,” he asserted.
