Karnataka Budget for 2008-09 passed by voice vote

Subscribe to Oneindia News

New Delhi, Mar 17 (UNI) The Rajya Sabha today passed the supplementary demands for grants of the 2008-09 Karnataka Budget, which shows a a revenue surplus of Rs 2,972 crore, by a voice vote.

The state is under President's Rule since November and fiscal powers now rest with the Central government.

The budget reflects revenue surplus of 1.19 per cent and fiscal deficit of 2.84 per cent of gross state domestic product.

Budgetary estimates put revenue receipts at Rs 46,188.70 crore against projected expenditure of Rs 43,216.05 crore, leaving a surplus of Rs 2,972 crore.

The plan outlay for 2008-09 is Rs 21,751 crore against Rs 17,782.56 crore for the current fiscal ending March 31.

Rising to defend the state budget, Finance Minister P Chidambaram assured the members that outlays under every head had been increased.

He sought to assure members who had expressed doubts about the state's large coastline and rise of terrorism in the state that this had been adequately looked after and that enough funds had been provided for coastal security and police force.

MORE UNI SD VD RAI1740

Please Wait while comments are loading...