The Karnataka Budget Session is taking place today, and Chief Minister Siddaramaiah is set to unveil his 16th budget. This year, he is tasked with the challenge of striking a balance between development projects and welfare initiatives.
The budget for 2025-26 is projected to exceed ₹4 lakh crore, an increase from the ₹3.71 lakh crore allocated for 2024-25. It is anticipated that the government will enhance spending on welfare programs beyond the ₹52,000 crore designated last year, aiming to assist an even larger number of beneficiaries.
Simultaneously, the Chief Minister is contemplating raising capital expenditure from last year’s ₹55,877 crore. Increased investment in infrastructure is expected to boost industrial growth, especially following the Invest Karnataka 2025 – Global Investors’ Meet, which aimed to garner ₹10.27 lakh crore in investments and generate approximately 6 lakh jobs.
The budget may also include incentives for the industrial sector, particularly targeting green energy initiatives. The government asserts that its welfare schemes ensure families receive a basic monthly income of ₹10,000, fostering social and economic stability.
Further updates include discussions around Karnataka’s second-highest foreign direct investment (FDI) and the state’s aspirations to achieve a trillion-dollar economy.
LIVE UPDATES
Karnataka Assembly Passes Bangalore Palace Bill
The Karnataka Assembly has approved the Bangalore Palace (Acquisition and Transfer) Bill 2025. This legislation allows the state government to relinquish land portions necessary for a roadway expansion after a Supreme Court directive to issue transferable development rights valued at ₹3,400 crore to the former Mysuru royal family.
The official notification issued by Chief Minister and Finance Minister Siddaramaiah states, “I hereby give notice of my intention to introduce an amendment to the Bangalore Palace (Utilization and Regulation of Land) Bill, 2025 (LA Bill No.5 of 2025), specifically regarding Clause-3. This amendment will include the following provision: Notwithstanding any provisions of the Act, any compensation paid regarding any portion of Bangalore Palace land, pursuant to any order or judgment of a court, shall remain protected.”
Karnataka Aims for Trillion-Dollar Economy with Second-Highest FDI
Governor Gehlot Highlights Economic Growth and Welfare Achievements During the Budget Session
During the Budget Session address, Governor Gehlot emphasized Karnataka’s economic development, welfare accomplishments, and advancements in infrastructure.
