Karnataka Chief Minister Siddaramaiah unveiled the state’s budget for the fiscal year 2026-27, marking a 13.3% increase over the previous year at Rs 4,48,004 crore. Highlighting Karnataka’s leading role in national development across sectors, Siddaramaiah emphasized the state’s significant contribution to the country’s tax revenue. He defended the guarantee schemes, noting their positive impact on millions of families and the economy by boosting purchasing power.
CM Siddaramaiah critiqued the Union Government, drawing an analogy of caring for a productive cow and urging sensitive responses to the state’s needs. Emphasizing the importance of cooperative federalism for India’s progress, he expressed concerns over unfair treatment by the Union Government, citing issues like reduced central shares and discriminatory allocations affecting the state’s finances. The CM stressed the necessity for unity across party lines to protect the state’s interests and rights.
Siddaramaiah highlighted Karnataka’s robust economic growth surpassing the national rate, driven by diverse sectoral expansion. Notably, the state witnessed a substantial increase in FDI inflows, positioning it as an attractive investment hub. He underscored Karnataka’s global economic integration, particularly in sectors like IT, biotechnology, and aerospace, contributing significantly to exports and FDI inflows. The CM emphasized the state’s pivotal role in national and international trade, especially in the context of evolving global trade dynamics.
The Chief Minister outlined the government’s focus on people-centric welfare programs and emphasized the significance of human development investments for stable and ethical economic growth. Mentioning the unique Karnataka model of development, he highlighted the state’s success in securing Geographical Indication status for over 45 products, boosting employment opportunities. Siddaramaiah reiterated the government’s commitment to employment generation, announcing initiatives to fill vacant posts and prioritize infrastructure development, including roads and public buildings.
