Updated: March 10, 2021 8:18:05 am
Karnataka Chief Minister B S Yediyurappa on Monday announced no new tax or major programme or any increase in the outlay of previous schemes while presenting a no-frills Budget for the year 2021-22 amid a resource crunch caused by the Covid crisis and ballooning debt.
The revenue deficit Budget, with an estimated expenditure of Rs 2.46 lakh crore and receipts of Rs 2.43 lakh crore in 2021-22, is on similar lines as the 2020-21 Budget where the total expenditure was estimated to be Rs 2.37 lakh crore against receipts of Rs 2.33 lakh crore.
“The revenue deficit is estimated to be Rs 15,134 crore. Fiscal deficit is expected to be Rs 59,240 crore, which is 3.48 per cent of GSDP. The total liabilities at the end of 2021-22 is estimated to be Rs 4.57 lakh crore, which is 26.9 per cent of the GSDP,” Yediyurappa said.
The state government has moved to amend fiscal responsibility norms to allow borrowing beyond three percent of GSDP to five percent and for increasing total liabilities beyond 25 per cent of the GSDP.
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.