Chief Minister B S Yediyurappa, who tabled his seventh state Budget in the Karnataka Legislative Assembly on Thursday, March 5, has clarified how he took the steps to allot funds.

Addressing the media after reading out an hour-long-budget on Thursday, the CM said, “I have not constrained the funds, even after not receiving enough funds from the Central Government. The 15th Finance Commission has not helped Karnataka get its due share of the tax. During the 14th Finance Commission, the state had received 4.7 percent share, but in the 15th it has dropped to 3.6 percent. The GST share is also very less. All these factors have affected the exchequer. As a result, the Centre’s share to the state has gone down to less than Rs 15,454 crores. Yes, we have increased the tax on petrol, diesel and liquor. We are expecting an estimated Rs 1500 crores from the petrol and diesel price hike and Rs 1200 crores from the state excise department in terms of revenue generation.”

Speaking about the farmers’ budget, he said, “The state government has never neglected the farmers as we have announced several pro-farmer schemes in this budget, especially to the drought-hit areas. For the first time in the state budget, a sum of Rs 5000 crores has been allotted to lift irrigation. For the flood-hit areas, the government has provided Rs 21,301 crores and for the Yetinahole project to be completed at a faster rate, Rs 1500 crores has been reserved.”

“In terms of the GDP, the whole nation is facing a downward trend. It has also affected the state which has seen a one percent downward trend. For the Scheduled Castes (SC) and Scheduled Tribes (ST), we have kept aside more than 24.01 per cent of the funds,” he added.

Meanwhile, BSY said that a meeting will be held on March 13 to discuss the 15th Finance Commission, during which legislators can raise their voice.

Content writer, Transaction Processing Associate at Accenture and Former Business Development Manager at Tradebulls Securities Pvt. Ltd.