Karnataka Chief Minister Siddaramaiah presented his 14th State budget on July 7. He presented a budget with a total outlay of ₹3,27,747 crore, up from ₹3,09,182 crore in the budget presented by former chief minister Basavaraj Bommai in February 2023, for the same fiscal year (2023-24).
While the budget presented by Mr. Bommai before the Assembly elections did not impose any new tax, the budget presented by Mr Siddaramaiah on July 7 has increased the Additional Excise Duty on Indian Made Liquor by 20%, and on beer by 5.71%, proposes to revise guidance value of properties across Karnataka, and sets a higher revenue target from stamp duty and registration, and proposes that the tax on certain vehicle categories will be revised, apart from setting high revenue targets for all departments to mobilise resources.
This is probably to make room for the ₹52,000 crore earmarked for implementation of the five guarantee schemes of the Congress.
