Siddaramaiah presents a please all election oriented State budget
TNN Bureau. Updated: 2/16/2018 1:53:36 PM
Politics
Bengaluru, Feb 16 : Announcing several new schemes in the election bound year, Karnataka Chief Minister Siddaramaiah, who also holds finance portfolio, presented his 14th budget in the State Assembly here on Friday, enhancing the additional excise duty on Indian Made Liquor (IML) by 8 per cent leaving other sectors untouched.
With a Revenue Surplus of Rs 127 crore, the budget for 2018-19 will see the fiscal deficit of Rs 35,127 crore, accounting for 2.49 per cent of the Gross State Domestic Product (GSDP).
The total liabilities estimated at Rs. 2,86,127 crore, which was within the limits of 2.5 per cent for 2018-19 as mandated in the Karnataka Fiscal Responsibility Act enacted by the State, he said.
Mr Siddaramaiah said the State GDP grew at 8.5 per cent during the current fiscal as against 7.5 per cent in 2016-17. While the growth in agriculture sector was put at 4.9 per cent, with the Industry Sector also witnessing a similar growth and the services sector expected to grow at 10.4 per cent.