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Bangalore: The fact that the newly formed Chief Minister Siddaramaiah’s government will present the budget has caused a lot of curiosity. Currently, CM Siddaramaiah and DCM D. are busy in the exercise of full cabinet formation. K. Shivakumar is likely to get involved in budget preparations from next week.
CM Siddaramaiah and his cabinet are now tasked with formulating the economic map of the state for the next one year. In the first phase, after the formation of a full-fledged council of ministers, portfolio allocation will be done for the new ministers. After this, the preparations for presenting the state budget will begin. Under the leadership of CM Siddaramaiah, the new minister will make preliminary preparations for the budget and after consultation with the officials, the outline of the budget will be prepared.
The session of the new assembly ended on Wednesday itself. Now the government is preparing for the upcoming monsoon session. This session will be held mostly in the month of July. CM Siddaramaiah will present the full budget. The outgoing CM Basavaraja Bommayi has already approved the budget for the government expenditure up to July 31, so the government’s estimate list has to be prepared for the next few days.
As expected, Siddaramaiah may retain the finance portfolio. Siddaramaiah, who has already presented the state budget 14 times, is almost sure to present the first budget of his new government. The implementation of guarantees will be the biggest challenge for the Congress government during the presentation of the budget this time.
Why is enforcement of guarantees a challenge?
The Congress party had announced 5 major guarantees during the election campaign. The state government needs enormous financial resources to implement these guarantees. According to CM Siddaramaiah, Rs 50,000 crore is needed every year to fulfill the promises made by the Congress party to the people during the elections.
CM Siddaramaiah argued that opposition parties are happily giving wrong information. The state has enough financial resources to implement the free schemes announced by his party. Their argument is that the burden of excessive debt does not fall on the state. According to our calculation, implementation of guarantees is Rs 50 thousand crore. want Siddaramaiah spoke confidently that we will implement this money without incurring additional debt. The guarantees already announced by the Congress party have also been approved in the first cabinet meeting of the Siddu government.
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