The Tenth Budget presented by Karnataka Chief Minister Siddaramaiah on Friday envisages a revenue surplus of Rs 911 crore and focuses on rural areas and development.
Siddaramaiah said in his budget speech that total receipts are estimated to be Rs 1,39,476 crore during 2015-16. The budget estimates envisage revenue receipts of Rs 1,16,360 crore and capital receipts of Rs 166 crore, including borrowings of Rs 22,950 crore.
The total expenditure is estimated to be Rs 142,534 crore, consisting of revenue expenditure of Rs 1,15,450 crore and capital expenditure of Rs 20,564 crore and debt repayment of Rs 5,788 crore.
Fiscal deficit is expected to be Rs 20,220 crore, which is 2.75 per cent of GSDP. Total liabilities at Rs 1,80,815 crore at the end of 2015-16 are estimated to be 24.56 per cent of GSDP.
“This is within the limit of 25 per cent for 2015-16 mandated in Karnataka Fiscal Responsibility Act. Therefore, all these three fiscal parameters are within the mandate of the Act. This reflects fiscal responsibility of the State,” said Siddaramaiah.