Budget 2022-23 : Addresses all sectors says K'taka CM

Basavaraj Bommai, Chief Minister of Karnataka, said that the budget presented by Ministry of Finance Nirmala Sitharaman is inclusive of all sectors.

"The funds for MSMEs have been increased from Rs 50,000 crore to Rs 5 lakh crore. Revival of MSMEs is very important for the economy," CM said.

"We expect around Rs 3,000 to 3,500 additional on capital outlay," he said. "The fiscal deficit has been maintained at 4 percent, which was one of the demands." Capital expenditures for the states have been increased from Rs 10,000 crore to Rs 1 lakh crore.

According to him, "The approximate capital grant would be increased from Rs 26,000 crore to Rs 29,000 crore for the state."

He added that apart from these, the state will also get its share in highway and railway projects. The metro will get more funds under the urban transport system. "The funds for the revival of MSMEs have been increased from Rs 50,000 to 5 lakh crore. Karnataka has one of the largest numbers of MSMEs in the country," he said.

"Small industry, home industry will get more funds. It is a far sighted budget. Sector wise useful. Big investments are made into infrastructure. National highways, railways, digital economy and multi-modal connectivity for states, all sectors huge investments are being made," Bommai stated.

B.S. Yediyurappa, a former chief minister, said the budget will do much to correct the setback to the economy during the COVID crisis, as well as the long-run development of rural and urban areas.

Yedhiyurappa said that the budget gives priority to digitalisation and self-reliance, and also to infrastructure development.

"I welcome steps of providing an optical fibre network for all villages, joining of rivers, and providing clean drinking water to every household," he added.