The State of Karnataka is entering in May 2023. The Interim Budget for 2023-24 was presented by the State CM Basavaraj Bommai. The interim budget is the budget presented ahead of elections. The Government of Karnataka is to set up a startup park near Bengaluru Airport; provide free bus passes to students, toilets in government schools; etc. The total budget outlay was Rs 9,698 crores
Key Highlights of Karnataka Budget 2023-24
Traffic signals are to use AI
She Toilets are to be constructed in Bengaluru
Flood control project to be implemented at a cost of Rs 3000 crores. Assistance received from World Bank
Bengaluru Metro Rail Project: 40.15 km to be constructed
Satellite Town Ring Road to be constructed; 30% of acquisition cost to be borne by State Government
75 new junctions to ease Bengaluru Traffic at Rs 150 crores
Karnataka Economic Scenario
Total Tax Revenue in 2023-24 estimated to be Rs 1,64,653 crores
Total Non-Tax revenue in 2023-24 is expected to be Rs 11,000 crores
Total Expenditure for the year 2023-24 is estimated to be Rs 3,09,182 crores
For the first time after the pandemic, in 2022-23, the revenue receipt was higher than the Revenue Expenditure