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Karnataka Chief Minister Siddaramaiah has presented the budget for the financial year 2023-24, with an outlay of over Rs 3.27 lakh crore. 

While presenting the budget, CM Siddaramaiah said that approximately, Rs 52,000 crore will be spent annually to fulfill the five guarantees. 

The government has aimed at collection of Rs 11,500 crore of taxes. The excise duty has been hiked by 20 per cent on liquor and 10 per cent on beer. 

It has been announced in the budget that the guidance value of immovable properties would be reviewed. The guidance value for immovable property was not reviewed since 2019. 

The government is aiming to collect Rs 1 lakh crore in this financial year. 

It aims to collect Rs 9,000 crore of royalties from the Mines and Geology sector. 

CM Siddaramaiah stated that the Grihalaxmi and Griha Jyothi schemes will provide relief to women who are reeling under the price rise "due to failure of the Central government". 

The Karnataka state is the only land which is taking development and social justice hand in hand, CM Siddaramaiah stated. 

Siddaramaiah slammed the Opposition for ridiculing the free schemes of the Congress government. 

"The common person's discretion should not be insulted. The KMF brand has an emotional connection with Kannada people. The government is committed to protecting and developing the brand," he said. 

Siddaramaiah also announced that more Goshalas (cow nursing centers) will be built at a cost of Rs 50 crore. 

Former CM H.D. Kumaraswamy, reacting to the budget, stated that to increase the revenues, the excise tax has been increased. 

"People are losing lakhs of rupees. The government's money given to the poor instead of free rice is going there. What is the long-term plan for empowering the working class? I don't have any objection to guarantee schemes. They will cost Rs 50,000 to Rs 60,000 crore. No funds are earmarked for any other sector. The presentation of the budget is nothing but blaming the previous BJP government in the state and central government," Kumaraswamy said. 

"You (CM Siddaramaiah) are burdening people with Rs 85,000 crore loans in one year. If you target the Central government, how will you get the funds? There must be a cordial relationship with the Union government," he said. 

Former minister V. Sunil Kumar said the objective of the presentation of the budget seemed to communicate that, "the Central government had not given any funds and governments did nothing". 

BJP legislator B.Y. Vijayendra said no fund has been earmarked for major projects such as Mekedatu and Mahadayi. 

"This is being done to contain Deputy CM D.K. Shivakumar," he said.