With Karnataka facing Assembly elections next year, the State Chief Minister Siddaramaiah announced a slew of populist schemes benefiting agriculture, health, and social welfare sectors.
With an aim to increase excise revenues, he has increased the excise duty on liquor by 8 per cent. With effective enforcement and regulatory measures, the department would be able to achieve the target of Rs 18,750 crore fixed for the fiscal 2018-19.
Total receipts are estimated to be Rs 2,02,297 crore during 2018-19. The budget estimates envisage revenue receipts of Rs 1,62,765 crore and capital receipts of Rs 39,532 crore, including borrowing of Rs 39,328 crore.
Total expenditure estimated at Rs 2,09,181 crore consists of revenue expenditure of Rs 1,62,637 crore, capital expenditure of Rs 35,458 crore and debt repayment of Rs 11,086 crore. Out of the total expenditure, Rs 28,002 crore has been provided under Schedule Caste sub plan/Schedule Tribal sub plan.
Revenue surplus is estimated to be Rs 127 crore. Fiscal deficit is expected to be Rs 35,127 crore, which is 2.49 per cent of GSDP. Total liabilities is estimated at Rs 2,86,790 crore, which will be 20.36 per cent of GSDP. This is within the limit of 25 per cent for 2018-19 mandated in the Karnataka Fiscal Responsibility Act.