New Delhi, Feb 2 (NationPress) The Central government has elevated Karnataka's allocation in central taxes to 4.131 percent, stated Union Minister for Food, Public Distribution, and Consumer Affairs Pralhad Joshi, while refuting claims made by Congress leaders in the state.

In a media briefing in Delhi, Joshi highlighted that Karnataka's tax share has improved from 3.647 percent to 4.131 percent. This adjustment will lead to tax revenues amounting to several thousand crore rupees for the state. He firmly dismissed the Congress's accusations regarding unfair treatment in tax revenue distribution.

According to the 2026-27 Union Budget, Karnataka is set to receive Rs 63,049 crore as its share of central taxes. Joshi pointed out that this marks an increase compared to the previous fiscal year.

He also noted that the 16th Finance Commission has maintained the total tax devolution to states at 41 percent. While the overall tax devolution percentage remains unchanged, the specific shares for each state have been adjusted, benefiting Karnataka with a larger share of central taxes, he clarified.

Previously, he remarked that the economic strategy outlined by Union Finance Minister Nirmala Sitharaman for 2026-27 aligns with Prime Minister Narendra Modi's vision for a developed India and serves as a beacon for shaping a prosperous future for the nation.

Joshi emphasized that this budget is growth-focused, with a commitment to enhancing production capabilities across seven vital sectors. Notably, an investment of Rs 10,000 crore in the biopharma sector is expected to significantly foster innovation and manufacturing in healthcare.

In response to the Union Budget for 2026-27, Karnataka Chief Minister Siddaramaiah criticized it as resembling a "municipality corporate budget," deeming it the most disappointing budget he has encountered in his political career.

The Chief Minister mentioned that in the previous year's budget, Finance Minister Sitharaman had pledged Rs 5.41 lakh crore for centrally sponsored schemes, which has now been reduced to Rs 4.2 lakh crore.

"This is the most disappointing budget I have witnessed in my political career. It is no better than a corporation budget. Karnataka has received nothing. Once again, Karnataka has been let down. The entire South India has been overlooked by this budget," Siddaramaiah expressed.

Addressing the announcement of two high-speed railway projects connecting Bengaluru-Hyderabad-Bengaluru and Chennai-Bengaluru, the Chief Minister noted that these projects would offer minimal advantages to Karnataka, as they do not encompass long stretches within the state.

"If the Centre truly aimed to assist Karnataka, it should have unveiled the Bengaluru-Mumbai and Bengaluru-Mangaluru high-speed rail projects," he added.

Karnataka's Deputy Chief Minister D.K. Shivakumar also criticized the Union Budget for 2026-27, asserting that the state has gained nothing, and that "no high-speed rail will be coming to Bengaluru."

It is noteworthy that the Centre has announced a bullet train service connecting Hyderabad and Bengaluru. "Prime Minister Modi has labeled Bengaluru a global city. What significance has been accorded to this global city? The Centre's Budget has not benefitted Karnataka in any manner," Shivakumar stated.