Bengaluru, March 7, 2025: Karnataka Chief Minister Siddaramaiah has announced that Bengaluru City University (BCU) will be renamed as Dr. Manmohan Singh Bengaluru City University in honor of the former Prime Minister. The announcement was made as the Chief Minister presented his record 16th Budget for the state.
Bengaluru City University, formerly known as Bengaluru Central University, was established in 2017 and underwent a name change in 2020. The latest renaming reflects the government's acknowledgment of Dr. Manmohan Singh’s contributions to India's economic and financial landscape.
Karnataka Budget 2025-26: Fiscal Discipline Maintained
While presenting the state Budget, Siddaramaiah, who also holds the Finance portfolio, asserted that Karnataka has maintained fiscal discipline for the financial year 2025-26 by keeping the fiscal deficit within the mandated limits.
The total expenditure for 2025-26 is estimated at ₹4,09,549 crore, comprising:
- Revenue expenditure: ₹3,11,739 crore
- Capital expenditure: ₹71,336 crore
- Loan repayment: ₹26,474 crore
According to the Budget estimates:
- Revenue deficit stands at ₹19,262 crore (0.63% of GSDP).
- Fiscal deficit is pegged at ₹90,428 crore (2.95% of GSDP).
- Total liabilities by the end of 2025-26 are expected to be ₹7,64,655 crore (24.91% of GSDP).
"By maintaining the fiscal deficit and outstanding liabilities within the limits prescribed under the Karnataka Fiscal Responsibility Act, we have ensured financial stability for the state," said Siddaramaiah.
Bengaluru Infrastructure Gets Major Boost
A significant portion of the Budget has been allocated to Bengaluru’s infrastructure development, with a focus on tackling the city's traffic congestion.
Key initiatives include:
- Enhanced annual grant for Bengaluru: Increased from ₹3,000 crore to ₹7,000 crore for 2025-26.
- Special Purpose Vehicle (SPV): A new entity will be created to utilize these grants and implement key development projects.
- BBMP revenue increase: The Bruhat Bengaluru Mahanagara Palike (BBMP) has reported an additional ₹4,556 crore in revenue through various reforms, particularly in property tax collection.
- Government-backed infrastructure projects: Karnataka has provided a ₹19,000 crore guarantee to BBMP for the ₹40,000 crore North-South and East-West corridor tunnel projects aimed at easing Bengaluru’s traffic woes.
Additionally, to decongest major roads in the city, the government has approved:
- A 40.5 km double-decker flyover at a cost of ₹8,916 crore.
- Namma Metro Phase 3 Project, which will further expand Bengaluru’s metro network.
The Budget reflects the government's commitment to strengthening infrastructure, maintaining fiscal prudence, and enhancing urban development, with a clear focus on Bengaluru’s transformation into a world-class city.
.png)
The opinions posted here do not belong to 🔰www.indiansdaily.com. The author is solely responsible for the opinions.
As per the IT policy of the Central Government, insults against an individual, community, religion or country, defamatory and inflammatory remarks, obscene and vulgar language are punishable offenses. Legal action will be taken for such expressions of opinion.