‘Disappointing Budget’: K’taka Industry Minister on Union Budget
Bengaluru: Karnataka’s Minister for Large and Medium Industries M.B. Patil said on Saturday that the Union government’s Budget is “highly disappointing”, adding that no special package has been announced for the development of north Karnataka.
The expectation that AIIMS would finally be sanctioned for north Karnataka this time has also turned out to be futile, Patil added.
“In summary, this is yet another “anti-people” Budget, the Minister said while criticising the Union Budget presented by Union Finance Minister Nirmala Sitharaman on Saturday.
“Union Finance Minister Sitharaman has introduced eye-catching strategies that appear to benefit middle-class taxpayers significantly. However, the Budget lacks any provisions that could boost GDP growth, which is concerning,” Patil opined.
The absence of a significant increase in capital expenditure is also a worrying factor, he said.
Speaking about the Budget presented by the Central government on Saturday, he said, “At first glance, this Budget appears to bring relief to middle-class taxpayers, but in reality, that is not the case. They have announced a tax exemption up to Rs 12 lakh, but if the income exceeds even by one rupee, the exemption is not applicable.”
“Instead, a tax of more than 20 per cent is imposed. Instead of this, the government should have ensured direct and straightforward benefits for taxpayers. Prime Minister Narendra Modi-led government has failed to meet the expectations of society, and people will realise this in the coming days,” Patil added.
“Keeping capital expenditure almost unchanged is not beneficial for economic growth, as it will slow down development. To compete with neighbouring China, India needed to increase its capital investment. However, the lack of such a proposal in the Budget is unfortunate,” he said.
He emphasised the need for industrial growth and infrastructure development, especially for Karnataka, which is the Information Technology, Biotechnology, and startup capital of the country.
However, the Prime Minister Narendra Modi-led Union government has not announced any specific beneficial initiatives for the state, the Minister said.
“Karnataka contributes significantly to the country’s overall export trade, so it deserves more allocation. Merely announcing schemes for states like Bihar with an eye on elections will not yield any real benefits,” he added as he expressed his dissatisfaction with the Union Budget.
Transforming India into a $5 trillion economy requires bold and historic measures, but this Budget has failed to demonstrate that courage, Patil opined.
Karnataka Home Minister G. Parameshwara said that the Union Budget for 2025-26 presented by Finance Minister Sitharaman has completely neglected the development of Karnataka, despite it being the second-highest tax-paying state in the country.
“The wealth generated from the taxes paid by the people of South Indian states has been diverted towards the development of North Indian states. The Budget has ignored the development of Scheduled Castes, Scheduled Tribes, and Other Backward Classes,” he added.
“There are no strong policies for irrigation projects or initiatives to increase farmers’ income. Additionally, no solutions have been provided for the growing unemployment crisis among the youth,” he said.
“Even though Karnataka has three Union Ministers in the Central government, the state has gained nothing from this Budget. The hopes of receiving special schemes for the safety and development of Karnataka’s metropolitan cities have also been dashed,” Parameshwara added.
The Central government, led by Prime Minister Narendra Modi, has once again betrayed the people of Karnataka through this Budget, he said.
