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The state government on Saturday urged the Centre to address Karnataka's "shrinking fiscal space" in the Union Budget 2026-27, stating that the state is under mounting pressure due to GST changes, rising social commitments and rapid urbanisation. Karnataka Revenue Minister Krishna Byre Gowda, on behalf of the state government, handed over a representation to Union Finance Minister Nirmala Sitharaman at the Union Pre-Budget Meeting for 2026-27 in Delhi today. In a release issued by the Chief Minister's Office, Gowda said, "Karnataka is a major contributor to national growth, but is facing shrinking fiscal space amid GST changes, rising social commitments, climate shocks, and rapid urbanisation. States' responsibilities have expanded faster than their revenues, necessitating corrective fiscal measures in Budget 2026-27." The minister also flagged the fiscal and employment impact of replacing the demand-driven Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) with the ..
Finance Minister Nirmala Sitharaman on Friday met experts from infrastructure and energy to elicit their views on the forthcoming Budget for FY27. Those present at the meeting include Afcons Managing Director S Paramasivan, Shapoorji Pallonji Infrastructure Capital Director Manish Tripathi, GMR Group Deputy Managing Director K Narayanarao, JM BAXI Group Director Sandeep Wadhwa and Infravision Foundation CEO Jagan Shah, among others. "Union Minister for Finance & Corporate Affairs Smt. @nsitharaman chairs the 11th Pre-Budget Consultation with the experts from the #Infrastructure and #Energy Sectors in connection with the forthcoming Union Budget 2026-27, in New Delhi, today. "The meeting was also attended by Secretaries of @MinOfPower; @shipmin_India; @MORTHIndia; Chairman of Railway Board; and the Chief Economic Adviser to the Government of India," the Ministry of Finance said in a social media post on X. Sitharaman is likely to present the Budget on February 1. She will present
The National Capital Region Transport Corporation (NCRTC), India's first regional rapid rail project, has received an allocation of more than Rs 2,900 crore in the Union Budget 2025-26 announced on Saturday. The NCRTC has started its operation in Delhi from January 5 after Prime Minister Narendra Modi inaugurated a 13-km section of the corridor from Sahibabad in Ghaziabad to New Ashok Nagar in the national capital. The NCRTC received a total outlay of 2,918 crore in the current budget, while it was Rs 3,855 crore in last budget's revised estimates. The union budget for 2025-26 was presented by Finance Minister Nirmala Sitharaman on Saturday. After the inauguration of the NCRTC's Delhi section, commuters from the national capital can reach Meerut South in just 40 minutes. Currently, two stations -- Anand Vihar and New Ashok Nagar -- are operational in Delhi, while a third one is under construction at Sarai Kale Khan. The 82-km Regional Rapid Transit System (RRTS) corridor originat