Karnataka Chief Minister Basavaraj Bommai on Thursday termed the recently released Union Budget "growth-oriented" and said that the investment in the capital sector would generate a USD 5 trillion economy.
"Its a growth-oriented budget and also the social care and infrastructure has been taken care of. Especially because of the Rs 10 lakh crore investment in the capital sector, there will be employment, employment generation and growth of a USD 5 trillion economy can be achieved through this budget," CM Bommai said.
He further said that in the Union Budget 2023, the rural infrastructure has also been given a lot of money in terms of drinking water, housing, rural infrastructure and equally urban infrastructure is taken care of, he added.
"The agriculture has been given a lot of impetus [in the budget]. More capitalists are going into agriculture for the first time and the scale of finance has also increased. Also, the MSMEs have been taken care of for the first time and individual tax-level benefit has been given. Therefore it is overall a growth-oriented budget with a macro and micro level balanced management. It is one of the finest budgets of the Government of India," Bommai added.
Further talking about the GDP, the Karnataka CM exuded confidence in the GDP reaching beyond 7 per cent with the recent investment of Rs 10 lakh crore to it.
"Besides Upper Bhadra project, we are getting funds in rural development, agriculture, national highways and railways, hence there is a huge benefit for Karnataka in this budget," he added.
Earlier in the day, Karantaka Congress Chief DK Shivakumar said that "Karnataka has got nothing" in the Union Budget.
He said: "Karnataka has got nothing in the Union Budget, except that they have released some amount for Tungabhadra, which has already been there. The budget does not impact Karnataka straight and we are very sorry that we thought Nirmala Sitharaman is from our state and she will give a boost to the state but nothing has been done," Shivakumar said talking to mediapersons.
Sitharaman in her budget speech on Wednesday announced a grant of Rs 5,300 crore for the Upper Bhadra Project in Karnataka.
The Upper Bhadra Project is a major lift irrigation Scheme under implementation in the central region of Karnataka which envisages lifting upto 17.40 Thousand Million Cubic feet (TMC) of water in the first stage from Tunga to Bhadra and lifting 29.90 TMC of water in second stage from Bhadra to Tunnel near Ajjampura, in Tungabhadra sub-basin of Krishna basin, the website of the Visvesvaraya Jala Nigam Ltd said.
( With inputs from ANI )
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