Karnataka's Economic Growth and Budget Highlights for 2024-25

State Economy Projected to Grow at 6.6%

The Karnataka state economy is estimated to have grown at 6.6% at constant prices in 2023-24, according to official projections. This growth is expected to continue in the coming years, with the Gross State Domestic Product (GSDP) projected to reach Rs. 18.18 lakh crore at current prices by 2024-25.

Budget Projections for 2024-25

The Karnataka government has presented its budget for the financial year 2024-25, which includes several key provisions aimed at promoting economic growth and development. The budget estimates a fiscal deficit of 3% of GSDP, or Rs. 82,981 crore, which is higher than the previous year's deficit.

The budget also outlines plans to invest in infrastructure, education, and healthcare, with a focus on creating jobs and improving the quality of life for citizens. Additionally, the government has allocated funds for various social welfare programs aimed at providing assistance to marginalized communities.

Conclusion

Karnataka's economy is poised for continued growth in the coming years, supported by a favorable business climate and government investments. The state budget for 2024-25 reflects a commitment to fostering economic development while ensuring fiscal prudence, leaving a lasting impression on the state's financial landscape.