Karnataka's Budget Balances Growth and Welfare Amid Political Criticism

Chief Minister Siddaramaiah has staunchly defended Karnataka's latest budget amid an intense 24-hour debate in the Assembly, asserting fiscal discipline while prioritizing welfare and development. Despite opposition criticism branding the budget as loan-dependent, Siddaramaiah refuted these claims, highlighting a balance between economic growth and social justice.

The budget was revealed to have a borrowing of Rs 1.32 lakh crore, marking its alignment within permissible limits. Siddaramaiah emphasized the necessity of borrowing for developmental purposes, asserting that the state's total debt remains within prescribed limits and the budget focuses on empowering vulnerable sections through various welfare schemes.

The Chief Minister criticized the central government for reduced GST rates and compensation cuts, which affected state revenue. Meanwhile, he outlined significant allocations for education and social security, proudly noting Karnataka's superior GSDP growth over the national GDP rate as evidence of the state's robust fiscal management.