Karnataka's Fiscal Triumph: A Revenue Surge Story

Karnataka showcases remarkable fiscal performance in 2024-25, achieving a 53% revenue target with Rs 1,03,689 crore. A notable 11.2% growth rate highlights strong economic fundamentals, with the state rising to second in FDI inflows. Reforms and efficient administration boost budget utilization and infrastructure development, driving economic progress.

Karnataka's fiscal performance in the first seven months of 2024-25 has been exemplary, with the state generating Rs 1,03,689 crore or 53% of its annual revenue target, according to officials.

The impressive growth is driven by strong economic fundamentals, marked by a year-on-year growth rate of 11.2%. This has propelled Karnataka to second place in FDI inflows, with USD 2.2 billion investments in the first quarter.

The government credits bold reforms in stamp duties and excise, alongside enhanced administrative efficiency, for these achievements. Capital expenditure has surged, showcasing Karnataka's commitment to infrastructure, while welfare funding and e-governance initiatives ensure welfare scheme efficacy.

(With inputs from agencies.)