Bengaluru, Feb 1 (NationPress) Criticizing the Union Budget for 2026-27 unveiled by Union Finance Minister Nirmala Sitharaman on Sunday, Karnataka's Chief Minister Siddaramaiah remarked that it resembles a municipal corporate budget and labeled it the most disheartening budget he has encountered throughout his political journey.

The Chief Minister pointed out that in the 2025-26 budget, Finance Minister Sitharaman had pledged an allocation of ₹5.41 lakh crore for centrally sponsored schemes.

“Nevertheless, this year's allocation has been slashed to ₹4.2 lakh crore,” he stated.

“This is the most disappointing budget I have experienced in my political career. It is no better than a corporate budget. Karnataka has received nothing. As usual, Karnataka has been let down. The entire South India has not benefited from this budget,” Siddaramaiah expressed.

Referring to the announcement of two high-speed railway initiatives to Bengaluru—Hyderabad-Bengaluru and Chennai-Bengaluru—the Chief Minister mentioned that these projects would offer minimal benefit to Karnataka as they do not extend to long distances within the state.

“If the Centre genuinely aimed to assist Karnataka, it should have declared Bengaluru-Mumbai and Bengaluru-Mangaluru high-speed rail projects,” he noted.

Siddaramaiah also accused Finance Minister Sitharaman of employing the same clichéd phrases during the budget presentation and claimed that the budget mirrors the Centre's failure to identify the correct path for the nation's progress.

“Through this budget, it is evident that the Central government is fatigued and incapable of steering the country. Prime Minister Modi's administration appears worn out. In its 13th budget, it has acknowledged that the principles of Mahatma Gandhi and the Congress party are valid. For the first time, historical sites associated with Buddhism have been acknowledged by the Centre,” he mentioned.

Additionally, the Chief Minister remarked that there was no discourse on the devaluation of the Rupee or any corrective measures.

He stated that foreign investment is dwindling, imports are escalating, and exports are declining, yet the budget overlooks these issues.

Instead, he noted that benefits to exporters have been curtailed, with the urea subsidy reduced from ₹1.26 lakh crore to ₹1.16 lakh crore, along with cuts in allocations for nutrient-based programs.

He also asserted that despite the Centre's claims of bolstering the defense sector, allocations for the aircraft division have decreased from ₹72,780 crore to ₹63,734 crore.

On the topic of environmental protection, Siddaramaiah noted that while ₹1,300 crore was allocated last year to combat pollution, this year the allocation has been reduced to ₹1,091 crore.

“Similarly, tax concessions for exporters, which were ₹18,233 crore in the previous budget, have been curtailed to ₹10,000 crore, showcasing a lack of foresight,” he alleged.

The Chief Minister emphasized that crop insurance for farmers has not been improved, higher education has not been prioritized, and the development of SCs, STs, and Backward Classes has not been sufficiently addressed.

He highlighted that the Centre has allocated ₹95,692 crore for the VB-G RAM G scheme.

Moreover, he indicated that there is no reference to Karnataka's irrigation projects in the budget.

“While the AI mission has been prominently featured, the allocation has been reduced from ₹2,000 crore in the previous budget to ₹1,000 crore this year.”

The Union Budget also neglects to mention the Bengaluru Metro and suburban rail projects, Siddaramaiah stated, adding that Karnataka contributes 8.7% to the country's GDP and leads in individual tax collection.

“The state has suffered a loss of ₹1.25 lakh crore under the 14th Finance Commission. In terms of GST compensation, the state experiences a loss of ₹20,000 crore annually. Despite this, Karnataka has not received justice,” the Chief Minister concluded.