Bengaluru, Feb 1 Karnataka Chief Minister Basavaraj Bommai on Tuesday said the Budget 2022-23 presented by Union Finance Minister Nirmala Sitharaman has taken care 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," he said.
"Fiscal deficit has been maintained at 4 per cent, which was one of the demands. The capital outlay has been increased from Rs 10,000 crore to Rs 1 lakh crore for the states. We expect around Rs 3,000 to 3,500 additional on capital outlay.
"The approximate capital grant would be increased from Rs 26,000 crore to Rs 29,000 crore for the state," he explained.
"Besides that, we will have our share on national highways, railway projects. Under the urban transport system, the metro will get more funds. The funds for MSMEs' revival has been increased from Rs 50,000 to 5 lakh crore. Karnataka is one of the largest states to have MSMEs," 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 said.
Former Chief Minister B.S. Yediyurappa said the budget will go a long way in correcting the setback to the economy during Covid crisis and it has a vision to ensure development in the long run. The budget is favourable for the development of rural as well as urban areas.
"Thrust has been given to digitalisation and self-reliance. The budget also gives importance 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 stated.
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