Karnataka CM Siddaramaiah Slams Union Budget 2026: Calls it Vague, Neglectful of States
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Moneycontrol•01-02-2026, 21:14
Karnataka CM Siddaramaiah Slams Union Budget 2026: Calls it Vague, Neglectful of States
- •Karnataka CM Siddaramaiah criticized the Union Budget 2026-27 for lacking clarity on execution and accountability, despite grand narratives.
- •He slammed the retention of 41% tax devolution, arguing it ignores states' increasing fiscal responsibilities and undermines cooperative federalism.
- •Siddaramaiah highlighted Karnataka's reduced share of divisible taxes, projecting an annual loss of Rs 10,000-15,000 crore, impacting key development projects.
- •The CM expressed concern over proposed high-speed rail corridors, stating they benefit other states more than Karnataka's essential connectivity needs.
- •He criticized the budget for neglecting farmers, major irrigation projects like Mekedatu, and the omission of Karnataka from Rare Earth Corridors.
Why It Matters: Karnataka CM Siddaramaiah criticizes Union Budget 2026 for neglecting states' fiscal needs and lacking clear execution plans.
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