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Hon’ble Speaker, 1. I present the Budget for the year 2014-15. 2. This is the second budget of our Government. In my opinion, Budget is not a document of estimates alone. This is an official document reflecting insights and aspirations of the Government and economic strength of the State. In this regard, the Budget for 2014-15 being presented by me is a document of our ambition for comprehensive inclusive growth and all round development of the State. 3. In the last Assembly election, we gave a promise to the people to provide clean, robust and transparent administration. The people reposed faith in our promise and gave a mandate to us in the last Assembly elections. Honouring the mandate from the people, we have delivered on most of our promises in a short period itself. The confidence of the people is the oxygen for elected Government in parliamentary system of democracy. The clean, robust and transparent administration provided by us in the past nine months is indicative of this achievement. 2 Budget 2014 - 15 4. In the last year’s budget document, we had announced various people oriented and developmental schemes. Most of those schemes have already been implemented. “Annabhagya” Scheme announced by the Government immediately on assumption of power has eliminated hunger of one crore families of our State and brought them happiness. Loan waiver of Rs.1368 crore for Scheduled Caste, Scheduled Tribe, Backward Classes and Minorities has brought smiles on the faces of these people. Waiver of Rs.319 crore towards pending bills of “Kuteerjyothi” Scheme has lit a lamp in the houses of the poor. Incentive amount of Rs.818 crore given to about 7.4 lakh Co-operative milk producers has increased their income. 5. Welfare of agriculturists is the first priority of our Government. Accordingly, Agriculture Price Commission has been formed already to fix remunerative price for the farmers’ produce. Loans upto Rs.2 lakh at 0% interest rate has been provided to farmers. We are committed to utilize water resource potential for the agriculture. We have taken comprehensive measures to instill confidence in farmers and enhance respect for agriculture profession. Budget 2014 - 15 3 6. The prestigious scheme of our Government “Ksheerabhagya” is improving nutrition levels of more than one crore children through supply of free milk in Anganavadi and Schools. The insertion of Article 371J in the Constitution facilitated by strong concerns of our Government, has paved the way for the rise of Hyderabad Karnataka region. We have made a significant achievement by constructing 2.5 lakh houses so far towards the goal of making the State free of huts. We have taken big strides for creation of urban basic infrastructure 7. Our Government strongly believes that providing food to the hungry, health for peaceful life, a roof for living, education for self reliance, employment for working hands, results befitting the efforts, protection for weaker sections should be priorities of a responsible Government. 8. Like the previous year’s budget, this year’s budget is also based on a foundation of Social justice and consists of several programmes for the development of the people deprived of opportunities. “Inclusive and all round development” is the basic goal of our budget. Through these programmes, we will endeavour to build happy, peaceful and strong Karnataka. 4 Budget 2014 - 15 9. We have strengthened our financial resources with determination despite the shadow of economic slowdown in the country. We have controlled leakage of our income. We have overcome the economic slowdown through resource mobilization measures. Provision of adequate funding for the budgeted schemes inspite of the difficulties is evidence of our sound financial management. 10. Improvements have been made by providing required funds for electricity and infrastructure development. “Rajiv Gandhi Arogyashree” Scheme has been implemented for people above the poverty line. For backward class students, a new scheme “Vidyasiri” has been formulated. “Manasvini” scheme for unmarried women and “Maithri” scheme for sexual minorities have provided assurance in their lives. Implementation of 15 point progress based programme for village development is realising the rural development dream of Mahatma Gandhi. 11. Political stability, skill based human resources, improvements in basic infrastructure, and, efficient administration system in our State has drawn attention of the industrialists from all over the world. New Information Technology Policy has been Budget 2014 - 15 5 announced. New Industrial Policy will be announced soon. Rural and Urban Development are like two wheels of our march on the path of progress. State’s Economy 12. The State’s economy in 2013-14 was influenced by the slowdown in the National Economy and slow global recovery. It is estimated that the State Domestic Product grew at a rate of 5 % during 2013-14. Due to slow down, industrial sector growth is estimated to be 1.2 %. The growth in the services sector that contributes 60 % of the SDP has been estimated to be 7.2 %. 13. After recording a -4.9% growth in 2012-13, Agricultural sector has staged noticeable recovery. It gives me pleasure to inform the Honourable House that the Agricutural sector is estimated to record a growth of 3.6 % during 2013-14. Our Government policy of strong thrust to agricultural sector and timely availability of agricultural credit have galvanized the sector. The Loan waiver scheme of our Government has helped to reduce the loan burden on the agricultural community. 6 Budget 2014 - 15 14. While acknowledging the challenges that the economic condition presents, I would like to assure that my Government will put the economy of the State on a high growth path, by formulating and implementing growth promoting policies. Overall Economic Position 15. The challenging economic environment is still continuing due to emerging market economies and slow down of the national economy. Still, a recovery of the national economy is expected. Riding on the growth of 4.6 % in agriculture sector, Indian economy is expected to achieve a growth rate of 4.9 % during 2013-14. 16. We need to be cautious about the growing inflation, which can slow down investments and growth. We believe that Government of india and the Reserve Bank of India will take necessary steps for Economic and financial stability in the background of uncertain external environment. Prime Minister’s Economic Advisory Council in its Economic Forecast has estimated the National GDP growth to be 5.3 % during 2013-14, which though less, indicates clear signs of economic recovery. Budget 2014 - 15 7 17. The growth in investment rate and in GSDP of the State will be dependent on progressive improvement in economic policy environment, removal of barriers to investment, fiscal deficit and control & stabilization of inflation. State’s Financial Position Plan Performance in 2013-14 18. The State Plan size for 2013-14 was fixed at Rs.48685 crore. This included support of Rs.41683 crore from the State budgetary resources and Rs.7002 crore as resources of Public Sector Enterprises. Total plan expenditure of the State including the share of Central Government is estimated at Rs. 50847 crore. This House had approved additional plan expenditure based on additional demands from various departments. 19. The revised estimates indicate that the State plan during 2013-14 has largely been implemented. Annual Plan 2014-15 20. Government of India has reformulated all existing Centrally Sponsored Schemes into 66 schemes. The funds transfer for these schemes has been re-classified. From 2014-15 onwards central 8 Budget 2014 - 15 assistance for these schemes will be through the State Budget. As a result, these resources will also be part of the State Plan in future. 21. I am happy to announce that the Annual Plan for 2014-15 has been fixed at Rs 65,600 crore. This includes Rs.57,687 crore to be provided out of State Government resources and Rs.7913 crore from resources of Public Sector Enterprises. This enhanced plan size is almost 34.75 % more than the plan size of Rs. 48685 crore fixed for 2013-14. Agriculture MPÀÌ°UÀ MPÀÌ¢gÉ ©PÀÄ̪ÀÅzÀÄ dUÀªÉ¯Áè - ¸ÀªÀðdÕ 22. Our Government’s first priority is to mitigate the misery of the farmers of the State. Improving the lives of the farmers is prequisite for a healthy society. 23. Our Government will always be in the forefront to protect the interest of farmers. Through low interest agricultural loan, subsidized seeds, fertilizer, nutrients, agricultural improvements, soil conservation, market improvements, minimum support price, crop loss compensation, crop insurance Budget 2014 - 15 9 and several other programmes, the Government is attempting to support farmers at all stages. Freedom from debt is being facilitated through irrigation security, free electricity supply and loan waiver schemes. In no circumstances, our ‘Annadaatha’ should lose courage and become despondent. I would like to reiterate my assurance to the farmers that we are always with them. 24. Following are the achievements during 2013-14. • Estimated food production of 131 lakh tonnes. • Sowing in 70.35 lakh hectare during kharif. • Distribution of 4.83 lakh quintal seeds to 17 lakh farmers for sowing during kharif 2013. Availability of 5.26 lakh quintals of seeds during rabi and summer. • Effective distribution of 26.82 lakh tonnes of fertilizers. Availability of 7 lakh tonnes of fertilizers as buffer stock.. • Distribution of Rs.222.23 crore compensation to 12 lakh farmers under crop insurance schemes. 10 Budget 2014 - 15 • Coverage of 74 lakh hectares under Bhoochetana programme. Increase in yield by 21 to 43 percent. • Priority to farm mechanization and processing of agriculture produce. Distribution of 50000 farm machinery and equipments. • More emphasis to sprinkler and drip irrigation by distribution of sprinkler and drip irrigation sets for 28000 hectare area, 90% subsidy to all groups of farmers from the present year.

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