BENGALURU: Karnataka has once again proved itself to be an economic powerhouse, maintaining fiscal discipline, while driving transformative development.
As the pioneer of the Fiscal Responsibility Act, 2002, Karnataka has institutionalised transparency, prudent debt management, and long-term financial sustainability. With fiscal deficit within 3% of GSDP, Karnataka’s has fuelled managed investments in infrastructure, social welfare, and human development, stated the economic survey.
The state’s total receipts surged 17.90% in 2024-25, up from Rs 3.12 lakh crore to Rs 3.68 lakh crore. Revenue receipts saw a 16.05% boost, while capital receipts surged 22.7%. The state’s tax revenue registered a 17.59% rise, complemented by a 12.5% growth in non-tax revenue.
The Consolidated Fund expenditure increased by 16.85%, reaching Rs 3.71 lakh crore in 2024-25 from Rs 3.70 lakh crore in 2023-24. Development expenditure expanded by 15.83%, jumping from Rs 2.08 lakh crore to Rs 2.41 lakh crore. Revenue expenditure saw 20.69% rise, climbing from Rs 2.4 lakh crore to Rs 2.9 lakh crore.
For social welfare, Rs 52,000 crore was allocated - 14% of the total budget - to sustain the five guarantees.
Karnataka is aligning its policies with the United Nations 2030 Sustainable Development Agenda, integrating economic, social, and environmental goals into its growth strategy.
The state’s Sustainable Development Goals performance has improved across 11 key goals, including poverty alleviation, healthcare, clean water, economic growth, climate action, and reduced inequalities. However, focused efforts are needed in education, gender equality, infrastructure, and hunger eradication to achieve holistic progress.
The state has established a State-Level Steering Committee, Monitoring & Coordination Committee, and expert groups dedicated to SDG goals. Karnataka’s Vision 2020 and 2025 is now seamlessly aligned with Karnataka SDG Vision 2030, serving as a roadmap to achieve long-term developmental objectives.
According to the NITI Aayog SDG India Index Report, Karnataka’s SDG score has climbed from 72 in 2021 to 75 in 2023-24, securing the 5th position among major states.
