Karnataka Budget 2025-26: Industry Leaders Praise Well-Balanced Strategies Supporting Industrial Growth and Social Welfare

 

Karnataka Budget 2025-26: Industry Leaders Praise Well-Balanced Strategies Supporting Industrial Growth and Social Welfare

Industry leaders and entrepreneurs have welcomed the Karnataka Budget 2025-26, presented by Chief Minister Siddaramaiah at the Vidhana Soudha in Bengaluru on March 7, 2025. The comprehensive budget is being hailed for its inclusive approach that addresses the needs of all sectors.

Fostering a Business-Friendly Environment
“With a strong emphasis on industrial development, welfare programs, infrastructure, education, agriculture, tourism, and healthcare, the State Government has successfully addressed various concerns and outlined well-crafted strategies that benefit Karnataka’s industries. The expansion of the Bengaluru metro network, especially with enhanced connectivity to Devanahalli, will significantly reduce traffic congestion.

Moreover, the ‘Brand Bengaluru – Green Bengaluru’ initiative, aimed at rejuvenating lakes and speeding up land acquisition for airports, will improve both connectivity and ecology throughout the State in an impactful way.

The introduction of the Karnataka Employer’s Compliance Decriminalization Bill and the Karnataka Employer’s Compliance Digitisation Bill is a game-changer. These will make Karnataka the first state in India to decriminalize employer violations and fully digitize compliance processes, creating a more business-friendly environment. This budget reflects a sincere effort to ensure that all citizens benefit from various government initiatives.”

– Vineet Verma, President, Bangalore Chamber of Industry and Commerce

A Pragmatic Growth Blueprint
The budget presented by the CM for fiscal year 2025-26 demonstrates a concerted effort to balance infrastructure development, industrial growth, and social welfare.

Key initiatives aimed at boosting the industrial and trade sectors include tax incentives for hybrid vehicles and electric vehicles (EVs), aligning with global sustainability trends. These measures are expected to attract investments from automotive manufacturers and related industries, further enhancing the state’s industrial landscape.

The budget also focuses on equitable regional development, with targeted allocations for various districts. While it aims to drive growth, maintaining fiscal discipline remains crucial to prevent long-term financial imbalances.

– M.G. Balakrishna, President, FKCCI

Digitizing Real Estate for Transparency and Efficiency
The Karnataka Budget 2025-26 highlights the government’s commitment to improving real estate transparency and efficiency through digitization. As CREDAI, we have advocated for the accelerated implementation of e-Khata within BBMP limits to streamline registration processes and meet capital gains tax requirements by March 31, 2025.

We are pleased to see a special ₹7,000 crore grant allocated to BBMP for various developmental projects, including the enhancement of the e-Khata system. We are optimistic that initiatives such as digital e-stamping and GIS-based property valuation and registration will be thoroughly tested before launch, ensuring a smooth transition. These measures will enhance transparency, reduce fraud, and guarantee fair market pricing, thereby boosting investor confidence and supporting sustainable urban development, especially in Bengaluru.

– Amar Mysore, President, CREDAI Bengaluru

Focus on Inclusive Growth
The Karnataka Budget 2025-26 marks an important step toward greater transparency and efficiency in real estate transactions. The government’s commitment to reinforcing e-Khata regulations will help reduce property fraud and prevent undervaluation, ensuring fair and transparent taxation.

Further, the introduction of digital e-stamping and GIS technology for property valuation will minimize misuse and correct discrepancies in guideline values. The proposed new land revenue act and online building plan approval system via the Unified Land Management System (ULMS) will simplify processes and bring greater clarity to property transactions. Additionally, the government’s focus on housing for the homeless highlights its commitment to inclusive growth.

– Murali Malayappan, Chairman & MD, Shriram Properties Ltd

Commendable Housing Initiatives
The ₹40,000 crore allocation for the Bengaluru tunnel corridor project, backed by a ₹19,000 crore government guarantee, is a transformative step towards easing city congestion and improving connectivity. Similarly, the ₹27,000 crore Bengaluru Business Corridor, which will develop a 73 km road network, is a critical investment that will enhance accessibility and create new real estate opportunities.

The government’s focus on housing and urban development is praiseworthy, with initiatives such as the Karnataka Housing Board’s plan to develop 16,140 plots in Bengaluru’s Suryanagar Phase-IV and the ₹1 lakh deposit waiver benefiting 12,153 homebuyers under the CM’s 1 Lakh Multi-storey Housing Scheme. Additionally, the interest subvention scheme under the Affordable Housing Program (AHP) will further improve affordability, making homeownership more accessible.

The ₹3,000 crore investment in 300 km of new roads, the ₹8,916 crore double-decker flyover project, and the ₹7,000 crore annual grant for Bengaluru’s infrastructure improvements will unlock new growth corridors and improve connectivity.

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