March 5, 2010 2:53 PM

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Karnataka Budget puts state Growth rate at 5.5%

The Karnataka State Budget has put the state Growth rate at 5.5% at constant prices during 2009-10. The budget presented today by Chief Minister B S Yeddyurappa, who also holds the Finance Portfolio has informed that state has maintained fiscal discipline with a fiscal deficit of 3.77 percent of Gross State Domestic Product in 2009-10 which is within 4% prescribed by the Central Government. The budget says that consolidated debt of the State is estimated to be Rs.82,513 crores by the end of 2009-10. Out of total Rs. 70,063 crores, the budget allocates highest of Rs.10,505 crores for Education and Higher Education. Urban Development sector receives Rs. 5883 crores, Irrigation Rs.5180 crores and Rural Development Rs. 3442 Crores. The budget projects Revenue surplus of Rs.500.49 crores for the year 2010-11 with a fiscal deficit of Rs.9708 Crores.<br/>

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