Union Budget 'blow to state's economy': Karnataka Chief Minister

Karnataka Chief Minister H D Kumaraswamy on Friday came down heavily on the Union Budget terming it a blow to the state's economy.

Karnataka Chief Minister H D Kumaraswamy on Friday came down heavily on the Union Budget terming it a blow to the state's economy. "This budget has given a big blow to the States economy by reducing GST state share. For Karnataka, it will be cut down by around Rs 1600 crore. Cess hike on fuel will also reduce the scope for states to levy cess. Moreover, the fuel price hike will hit everyone directly and indirectly as well," the Chief Minister said in a tweet.

The Chief Minister said that he was expecting more from Finance Minister Nirmala Sitharaman who represents Karnataka. "I expected more from Smt. @nsitharaman who represents Karnataka, for railways, especially suburban railways, but very disappointed as no projects/ aid were announced. In the Indian Context budget is not a mere statement of intent," he said.

Kumaraswamy said that he had high expectations from the first budget but was disappointed by it. "Had great expectations from the maiden budget presented by FM Smt. @nsitharaman, but equally disappointed. Though the creation of FPOs and strengthening e-NAM and promoting traditional industries are welcome moves, more morale-boosting programmes were desirable for the farming sector," the Chief Minister added. (ANI)

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