Karnataka Budget 2024 Highlights: Namaste, Recently, the state government of Karnataka unveiled its budget for the fiscal year 2024, a major step toward putting the state on a trajectory of sustainable growth and development. The budget, which comes at a pivotal point in the state’s economic development, is a calculated combination of prudent spending and bold investments in several important areas. Highlights of the Karnataka Budget 2024 are as follows:

Karnataka Budget 2024 Highlights

Healthcare Reinforcement:

The budget devotes a significant amount of money to building new hospitals and clinics as well as improving existing medical facilities, reflecting a renewed focus on healthcare infrastructure. With the goal of enhancing healthcare accessibility and quality for all residents, special attention is paid to bolstering rural healthcare services.

Establishment of new hospitals throughout the state
Modern nephrology hospital in Mysuru with 100 beds; viral research and diagnostic laboratory at Kodagu Institute of Medical Sciences
Renowned pilgrimage site Finally, Sringeri receives a Taluk hospital

Empowerment through Education:

The budget gives priority to funding the education sector because it acknowledges that education is the cornerstone of progress. It contains provisions for initiatives to improve teaching quality, upgrades to educational technology, and modernization of schools. Furthermore, programs are implemented to assist students from underprivileged backgrounds, guaranteeing inclusivity in the educational environment.

Mysore Medical College and Research Institute will receive Rs 75 crore.
The renowned Maharani Science College in Mysore has a new structure.

Infrastructure Development:

A sizable portion of the budget is set aside for projects involving the provision of water, transportation, and urban amenities. The goal is to promote sustainable infrastructure that raises living standards in both urban and rural areas and stimulates economic growth. This includes everything from water resource augmentation to road network expansion.

CM Siddaramaiah declares the Mysuru project for a peripheral road.

Digital Transformation:

Acknowledging the digital era, the budget establishes the foundation for an all-encompassing agenda for digital transformation. Funds are allotted for the promotion of e-governance programs, the extension of broadband connectivity, and the deployment of digital governance solutions. Utilizing technology as a catalyst for effectiveness, openness, and citizen-centered service delivery is the goal.

Agricultural Revitalization:

The budget proposes numerous measures targeted at improving farmer welfare and agricultural productivity in an effort to support the agricultural sector. This covers programs aimed at strengthening agricultural research and extension services, facilitating credit facilities, and encouraging sustainable farming methods. Schemes are also introduced to enhance farmers’ access to markets and lessen the effects of climate change on agriculture.

The Karnataka government has chosen to forgo interest on medium- and long-term past-due loans from banks that specialize in primary cooperative agriculture and rural development, as well as district cooperative central banks. More than 57,000 farmers would profit from it (PTI)

Industrial Growth:

The budget outlines initiatives to draw investments, encourage entrepreneurship, and make doing business easier, with an emphasis on promoting industrial growth and the creation of jobs. In order to stimulate industries in important sectors like manufacturing, technology, and renewable energy, special incentives and subsidies are announced. This promotes innovation and economic diversification.

Social Welfare Initiatives:

The budget unveils a number of welfare programs aimed at the most vulnerable members of society, maintaining its commitment to social justice and inclusive development. Social security, healthcare benefits, housing assistance, and skill development programs are among the provisions that are meant to empower underprivileged communities and guarantee their socioeconomic advancement.

Environmental Sustainability:

The budget allots funds to programs that support renewable energy, biodiversity conservation, and pollution control techniques, recognizing the critical importance of environmental preservation. A more resilient and sustainable future for the state is promoted by incorporating environmental factors into policy for development.

The tourism policy will be refreshed: CM Siddaramaiah of Karnataka

In order to draw in more visitors, the 2024–2029 tourism policy will be revised.
Investors should fully utilize the State’s tourism potential
There is mythological and historical significance to the Anjanadri Hills and the Koppal district surrounding them.
There will be a provision of Rs 100 crore to foster tourism in these regions.

Others

With expenses estimated to be around Rs 3,71,383 crore, CM Siddaramaiah presents a budget with a deficit of Rs 3,68,674 crore.

Karnataka’s total liabilities are indicated as Rs 6,65,095 crore, or 23.68% of the GSDP.

In conclusion, a comprehensive vision to promote inclusive growth, encourage innovation, and create a prosperous future for all citizens is reflected in the Karnataka Budget 2024. The state government of Karnataka aims to realize the full potential of the region by emphasizing investments in critical sectors and adopting a comprehensive approach to development, thereby establishing Karnataka as a leading example of progress and prosperity in the future.

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