Market Update: Political economy of Karnataka, CM Siddaramaiah’s acrobatics – Full Analysis

But there seems to be a shortage of receipts to spend on these, while debt is increasing. It shows that about 44% of the expenditure is going towards non-productive elements, and investment on education and health seems to have lost, though in smaller percentages. In matters of social commitment, the budget has been able to support smaller communities like washermen, artisans etc.

If youth protesting for jobs, the protest by KSRTC staff and threats by contractors are seen as indicators of failing governance, the government seems to be spending on its expanded activities, rather than qualifying what it has — leading to mismanagement. From the use of SC/ST funds for guarantees to Almattti backwater compensation to be given in crores, the state seems to be moving to clear them slowly without prioritising them.

Some political pundits have blamed it on Sidduji’s distractions in matters of leadership change. As a common man thinks — this budget seems to increase his/her worries as the living costs are growing and income or salary is not a match for it. MSMEs are craving for importance and infrastructure, but minimum wages, power tariff increases are a hurdle, as industrialists opine.

A green and climate-friendly budget is still a far-off dream as people who grow tobacco in the CM’s home town are busy felling trees. KSRTC is under loss, ESCOM is not improving, farmers death and migration has not stopped, but the government seems to have taken no cognisance of that. “Budget is the science of public happiness was how Keynes saw his work as an economist.” But Siddaramaiah seems to have forgotten that.

He referred to the analogy that there is a need to support the cow that milks more, blaming in silence the GST returns to the state by the Centre. In his 11 theories-based budget presentation for over three hours, Siddaramaiah proved that he is a hard-working CM even at this age. But it did not help him to satisfy the opposition or the economists in general.

There are some good points in his budget too. Age relaxation to skill training to 104 new schools, not allowing 16-year-olds the social media – parents will bless him. Elections to college and university will impress his high command.

Renaming Victoria Hospital as Shantaveri Gopal Gowda hospital is oneupmanship for BJP. But does this bring votes to Congress is a doubtful proposition. The budget of Siddhuji is an inclusive-for-all-kind of budget with no better future for Congress.