Karnataka Budget Speech 2008-09
*Free Electricity for farmers from Aug 2008, 2050 crore sanctioned
*Senior Citizen to get RS 25 off on monthly bus pass
*Up to 8th Standards 7 lakh students to get free bicycles
*950 crore for Sarva Shiksha Abhiyan
*Cyber centers at grampanchayat level
*Physically challenged to get RS 1000 monthly allowance
*Hubli to have international airport
Presenting the budget in the house, Mr Yeddyurappa also announced a one time benefit of Rs 1000 per family to 50 lakh small and marginal farmers who were dependent totally on dry farming due to failure of rains. He also announced that loans at three per cent interest would be given to farmers, fishermen and weavers. Sthree Shakthi Self Help Groups would get Six per cent interest subsidy on loans. A special Commission would be promoted for organic farming.
*High speed rail to BIA
*136 crore for Hubli-Dharwad transportation
*1800 crore for Bangalore's improvement.
*37 ITI institutes to be upgraded
*5 crore for Rajkumar memorial
*30crore for the improvement of Basava Kalyan
*Retirement age for state government employees rises to 60
*136 crore for drinking water scheme in Hubli-Dharwad
*New railway lanes from Gulbarga-Bidar
*Four corridors to come up: Bangalore-Hubli-Belgaum corridors,
*Tumkur-Shimoga-Honnavar corridors, Chitradurga-Udupi-Mangalore, Bidar-Chithradurga-Bangalore
Explaining other highlights of the budget he said an Information Highway would be set up connecting Vidhana Soudha with the District and Taluk level offices during the year.
Karnataka Budget Highlights
1.The Budget of Government of Karnataka for 2008-09 with an outlay of
Rs.56542.15 crores from the State Consolidated fund has been
presented in Parliament. The Budget focuses on promoting “Growth
2.The emphasis in 2008-09 budget will be on sustaining the economic
growth of the State while seeking to uplift the economically and
socially weaker sections.
3.In particular, the budget seeks to promote the development of human
capital in the State by enhanced investments in education, health and
social welfare. Further, the budget also seeks to initiate special steps to
improve the productivity of the agricultural sector and the economic
condition of the farmers.
4.The total outlay of Rs.56542.15 crores for 2008-09 represents an increase
of 12% over the budgeted outlay of the State for the year 2007-08 which
was Rs.50465.60 crore. The State’s annual plan for 2008-09 is to have an
outlay of Rs.21751 crores which reflects an increase of about 22% over
the 2007-08 annual plan outlay of Rs.17782.56 crores.
*3000 crore for peripheral ring raod
*60,000 houses to be built in BDA lay out, Kempe Gowda NAgar
*licence given to set up 1000 liquor shops across the state
*Multi specialty hospitals in INDIRA Nagar
*Bangalore to have a Bio-IT park
*KSRTC to get 3200 new buses
*Vidhana Soudhas to be directly linked to Taluk offices
*36 crore for Kims Hospital in Hubli
5.As required under the Karnataka Fiscal Responsibility Act, 2002 the
State’s budget for 2008-09 has a revenue surplus which is estimated at
Rs.2972.65 crores. This will maintain Karnataka’s record of a revenue
surplus financial position continuously since 2004-05.
6.As required under the Fiscal Responsibility Act, the Fiscal Deficit for
2008-09 will be within 3% of the State’s estimated GSDP (Gross State
Domestic Product) of Rs.244043 crores. Again Karnataka has
maintained a fiscal deficit of less than 3% of GSDP since 2004-05.
7. By maintaining the revenue surplus position and limiting the fiscal
deficit to less than 3% the State will continue to receive the benefits of
debt consolidation and wavier of central loans amounting to about
Rs.650 crores per year.
8.The Medium Term Fiscal Plan 2008-2012 presented with the budget
will be the guide for moving forward on the path of fiscal prudence
9.The State’s GSDP is projected to grow at a real growth rate of 9%.
Inflation is assumed to remain at 4% during 2008-09.
*Emergency ambulance service in rural areas
*Agricultuarl loan 3 percent interest
*700 crore for Metro rail projects
*40 multilevel parking centers in Bangalore
*20 crore for viswa kannada sammelan in Belgaum
*BBMP to get 300 crore
*Higher education loan at 6 pc interest
official site Finance Department
Karnataka Budget Speech 2008-09
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