'Reforms and growth-oriented budget', says Karnataka CM Basavaraj Bommai

Reacting to the union budget 2022-23, he said the budget aims to achieve economic growth of 9.2 per cent amidst Covid.

The budget has been presented with a long-term vision of promoting capital investment and consumption, he said.

"Economic growth is achieved by boosting investment and infrastructure development. Similarly economic growth gets momentum by increasing production and consumption. Huge investments are being made in the infrastructure sector. National Highways, Railways, Digital Economy and multimodal transport in states are the sectors that would see big investments," Bommai said.

With special focus on providing basic infrastructure for common man and programmes like Jal Jeevan Mission, Pradhan Mantri Awas Yojana, Pradhan Mantri Sadak Yojana, the budget would empower rural India, he said.

"The budget has lived up to the expectations of the common man with emphasis on drinking water supply, roads and housing, he said. Initiatives in digitalisation, utilisation of services of town planning experts, higher allocation for urban transport and priority for uniform development of urban and rural areas is another feature of the budget," Bommai said.

Bommai said the budget aims to achieve self-sufficiency in agriculture, organic farming and oilseeds cultivation too have received special attention.

"The budget has lent strong support for Atmanirbhar in defence production and seeks to achieve 68 percent self-reliance in production of arms, defence equipment and spare parts," Bommai noted.

"About Rs 7.50 lakh crore has been provided as Capital Expenditure (Capex), which is a 35 per cent increase to boost the economy and create development assets," lauded the Karnataka CM.

As the budget has a big increase in capital expenditure, the state is expected to get about Rs 3500 crore more under the Capital Account compared to last year, Bommai said.

"Karnataka is set to benefit from big thrust for Railways, national highways and infrastructure projects. 'Namma Metro' is likely to get a bigger allocation under the Urban Transport sector," he said.

By announcing the ECLGS scheme, the allocation for rejuvenation of ailing MSMEs has been raised from Rs 50,000 crore to Rs 5 lakh crore.

"This would have a big impact on the development of tourism and other sectors. As Karnataka is one of the states with huge small and micro enterprises, the budget proposal would help Karnataka in a big way," he said.

Reacting to the 'One Nation, One Property' proposal, Bommai said the programme has been introduced to a uniform system of property registration across the country.

"People are facing many hitches due to different systems of property registration in various states. The programme seeks to remove the hitches," said he.