<p>Senior BJP leader Basavaraj Bommai urged Chief Minister Siddaramaiah not to burden citizens with levies or by increasing the state's borrowings in the revised 2023-24 budget scheduled for presentation on Friday. </p>.<p>Making his preliminary remarks on the motion of thanks to the Governor's address in the Assembly, Bommai said the Congress government will not require more than Rs 20,000-25,000 crore to implement the five guarantee schemes. </p>.<p>Bommai quoted an IMF forecast to say that Karnataka's GSDP growth is pegged at 9 per cent against India's 7 per cent. </p>.<p><strong>Read | <a data-ved="2ahUKEwju7JWDx_r_AhWsXWwGHQ1lCk0QxfQBKAB6BAgLEAE" href="https://www.deccanherald.com/opinion/in-perspective/karnataka-budget-focus-on-what-matters-1234000.html">Karnataka Budget: Focus on what matters</a></strong></p>.<p>"Post Covid-19, the state's economy, GSDP and revenues under all heads have increased. You're getting good revenues," Bommai, a former chief minister who presented a vote-on-account budget for the 2023-24 fiscal in February, said. </p>.<p>"Only six months are left in the fiscal. You won't need more than Rs 20,000-25,000 crore for the guarantees. You won't have to borrow too much. When I presented a surplus budget, I kept fiscal deficit at 2.7 per cent of the GSDP, within the 3 per cent mark," Bommai said. </p>.<p>In his February budget, Bommai wanted to borrow Rs 77,750 crore for the entire fiscal. "Except for debt repayment, everything else was kept for capital expenditure. That's what's prudent financial management," he said, urging Siddaramaiah not to reduce capex for roads, bridges, school infrastructure, hospitals and hostels. </p>.<p>"You needn't increase taxes. You can manage this year with the existing finances. Please don't burden citizens with any tax or loan burden. If you do, then you'll add one more guarantee of being anti-people," Bommai said. </p>.<p>Bommai recalled the time when Siddaramaiah became the finance minister for the first time in 1994. "Back then, there used to be plan and non-plan (expenditure). He took a tough decision of reducing the plan size itself in order to decrease debt servicing to bring the financial position on the right track," he said. </p>.<p>"This time, your tact will lie in implementing the guarantees without comprising on irrigation, public works, education, health, agriculture, manufacturing and services sectors," Bommai said. "Otherwise, you'll give from one hand and snatch from the other." </p>
<p>Senior BJP leader Basavaraj Bommai urged Chief Minister Siddaramaiah not to burden citizens with levies or by increasing the state's borrowings in the revised 2023-24 budget scheduled for presentation on Friday. </p>.<p>Making his preliminary remarks on the motion of thanks to the Governor's address in the Assembly, Bommai said the Congress government will not require more than Rs 20,000-25,000 crore to implement the five guarantee schemes. </p>.<p>Bommai quoted an IMF forecast to say that Karnataka's GSDP growth is pegged at 9 per cent against India's 7 per cent. </p>.<p><strong>Read | <a data-ved="2ahUKEwju7JWDx_r_AhWsXWwGHQ1lCk0QxfQBKAB6BAgLEAE" href="https://www.deccanherald.com/opinion/in-perspective/karnataka-budget-focus-on-what-matters-1234000.html">Karnataka Budget: Focus on what matters</a></strong></p>.<p>"Post Covid-19, the state's economy, GSDP and revenues under all heads have increased. You're getting good revenues," Bommai, a former chief minister who presented a vote-on-account budget for the 2023-24 fiscal in February, said. </p>.<p>"Only six months are left in the fiscal. You won't need more than Rs 20,000-25,000 crore for the guarantees. You won't have to borrow too much. When I presented a surplus budget, I kept fiscal deficit at 2.7 per cent of the GSDP, within the 3 per cent mark," Bommai said. </p>.<p>In his February budget, Bommai wanted to borrow Rs 77,750 crore for the entire fiscal. "Except for debt repayment, everything else was kept for capital expenditure. That's what's prudent financial management," he said, urging Siddaramaiah not to reduce capex for roads, bridges, school infrastructure, hospitals and hostels. </p>.<p>"You needn't increase taxes. You can manage this year with the existing finances. Please don't burden citizens with any tax or loan burden. If you do, then you'll add one more guarantee of being anti-people," Bommai said. </p>.<p>Bommai recalled the time when Siddaramaiah became the finance minister for the first time in 1994. "Back then, there used to be plan and non-plan (expenditure). He took a tough decision of reducing the plan size itself in order to decrease debt servicing to bring the financial position on the right track," he said. </p>.<p>"This time, your tact will lie in implementing the guarantees without comprising on irrigation, public works, education, health, agriculture, manufacturing and services sectors," Bommai said. "Otherwise, you'll give from one hand and snatch from the other." </p>
