In the urban landscape of Bengaluru, Karnataka, the 15th budgetary presentation by Chief Minister Siddaramaiah unfolded on a Friday, revealing a recalibration in the tax brackets for Indian Made Liquor and beer, coupled with a comprehensive overhaul of the tourism policy designed to allure augmented investments. The intricate dance of fiscal maneuvers marked Siddaramaiah’s 15th budgetary ballet, his inaugural performance dating back to the fiscal year 1995-96. Having ascended to governance in May of 2023, the Congress-led administration is now poised to enact the second revision of beer prices. A prior fiscal orchestration in July had witnessed the imposition of an additional excise duty, amounting to a formidable 20 percent, on the frothy beverage.
Amidst the hallowed halls of the Assembly, Siddaramaiah, the maestro of fiscal policy, disclosed an allocation of Rs 100 crore for the development of Anjanadri Hills and the sacrosanct precincts of Koppal district, steeped in mythological significance. With an eloquent flourish, he declared a forthcoming metamorphosis in the tourism policy, an alchemical alteration designed to magnetize a greater influx of tourists and beckon substantial investments into the sector. A princely sum of Rs 52,000 crore has been earmarked for guarantee schemes, while the blueprints include the establishment of 50 women-operated hotels or cafes across the expanse of the state.
The ‘Anna Suvidha’ initiative, an opus of benevolence, aspires to satiate the gastronomic needs of the venerable demographic aged above 80. Introducing a nouvelle notion in the form of the ‘Namma Millet’ program, a paradigm shift in cereal distribution has been set in motion.
In a crescendo of dissent, Siddaramaiah censured the Central government, alleging a GST shortfall of a staggering Rs 59,000 crore. He expounded, “The fiscal fabric of the state has been rent asunder by the Center’s haphazard implementation of GST. Promises of a 14 percent growth were made at the advent of GST, accompanied by assurances of compensation in the event of any pecuniary shortfall.”
“The projected GST tax accrual from 2017 to 2023-24 was estimated at 4,92,296 crore; however, the tangible collection amounted to a mere 3,26,764 crore, resulting in a deficit of 1,65,532 crore. Despite this fiscal abyss, the Center dispensed a compensation of 1,06,258 crore, leaving the state in the throes of a debilitating loss totaling 59,274 crore,” he added, his words resonating like a sonorous lament.
The gubernatorial proclamation extended further, unveiling plans for the creation of a Bangalore Business Corridor. An edict approving a nascent 44-kilometer metro route materialized, accompanied by the blueprint for a skydeck ascending to a majestic altitude of 250 meters within the city limits. The chronological tapestry promises the completion of the airport metro line by the annus 2026, while the Cauvery phase-5 is slated for fruition by the denouement of the current calendrical annum.