Karnataka CM Siddaramaiah presented his record 16th budget on Friday, defending his government's guarantee schemes and accusing the Centre for the state's fiscal challenges.
The total expenditure for the 2025-26 budget is estimated to be ₹4,09,549 crore, including loan repayment of ₹26,474 crore.
Siddaramaiah has allocated ₹51,034 crore for fulfilling Congress government’s five guarantees in the current financial year.
He announced a new scheme called the Chief Minister's Infrastructure Development Programme (CMIDP), allotting ₹8,000 crore to ensure balanced development across the state.
As per the budget, for the financial year 2025-26, revenue deficit is estimated to be ₹19,262 crore. The fiscal deficit is estimated to be ₹90,428 crore.
Centre's failure to compensate for GST revenue loss and non-devolution of cesses led to state's fiscal challenges, Siddaramaiah charged.