The Hindu : Front Page : Surplus State Budget likely

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Monday, Mar 10, 2008
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Surplus State Budget likely

S. Rajendran

Populist schemes may take a back seat
Budget will be discussed on March 11

BANGALORE: There is a lot of curiosity about the Karnataka Budget that will be tabled in Parliament on Monday, given the fact that the State in all likelihood is heading for Legislative Assembly elections in two months.

Political parties here are keen to know whether the Centre will cash in on the opportunity and present a populist budget. Sources in the State Secretariat told The Hindu that in a budget to be presented during President’s Rule, populist schemes would obviously be pegged to the minimum. With a buoyant economy and revenue realisation that is slightly more than expenditure, a surplus budget has been the norm in the State over the past four years.

This time too, the State Budget that will be presented by Union Finance Minister P. Chidambaram is expected to be surplus.

With the State under President’s Rule for over three months now, it is unlikely that the administration will present populist schemes similar to those in the last Budget presented by the former Chief Minister B.S. Yeddyurappa. His populist schemes included grants to religious and caste-based institutions.

Advisers to Governor Rameshwar Thakur have played a key role in the preparation of the Budget, along with M.R. Sreenivasamurthy, Principal Secretary, Finance Department.

To ensure secrecy, the Budget was sent in electronic format to the Union Finance Ministry about a week ago. The Union Ministry has taken the responsibility to print it before it is tabled in Parliament. It is expected to come up for discussion on March 11. Those in the Government who have been a part of the Budget- preparation exercise said that the Budget for 2008-09 would be a continuation of the earlier budgets that tried to put the State on the fast track of development.

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