Karnataka Budget: Unprecedented rise of Rs 34,457 crore in capital expenditure, focus on green growth

Gandhinagar(Gujarat)[India], February 24(ANI): Gujarat Finance minister Kanu Desai on Friday presented the state Budget for financial year 2023-24, saying that a total budgetary outlay of Rs 301,021.61 crores has been proposed for the current discal.

The Budget this year sees a significant increase of Rs 57,056.89 crore in allocations, 23.38 per cent higher than the previous fiscal, for quality investments in ensuring a brighter future for the state’s youth. The plan for rapid development of Gujarat stands on 5 pillars — basic amenities, and social security for the poor and needy, development of human resources, creation of world-class infrastructure, boosting economic activities in agriculture, industry and service sectors, and green growth.

The Budget also sees unprecedented rise of Rs 34,457 crore in capital expenditire, which is 91 per cent more than the previous year. In her Budget speech, Desai said, “In this Amrit Kaal, this Budget will certainly help determine the direction of the state’s development over the next 25 years and will also contribute towards the making of a developed India.”

Among key budgetary allocations, Rs 43651 crore has been provided for the Education department, Rs 15182 crore for the Health Family Welfare department, Rs 9685 crore for Urban Housing, Rs 20642 crore for Roads and Building department, Rs 3410 crore for Tribal Development, and Rs 21605 crore for Agriculture, Farmers Welfare and Cooperation.

The Budget will also invest heavily in green growth, with the Climate Change department getting Rs 937 crores and an additional Rs 2063 crore being allotted for the Forest and Environment department.