Bengaluru: Chief Minister BS Yediyurappa, who took oath in the name of the farmers came to Vidhana Soudha on Thursday morning to present his 7th budget.
The budget is deemed to farmer-centric and donning a green shawl, BSY as promised, made huge announcements for the farming sector.
The CM, who also holds the Finance portfolio has announced Rs 200 cr for organic farming, mobile agri-health clinic, soil, water testing facilities, Rs 150 cr for Horticulture and Agriculture University in Shivamogga, Rs 2600 cr under Centre’s Kisan Samman Scheme.
The CM has also laid emphasis on programmes and schemes to save the farmers from falling prey to heavy interest loan schemes.
The CM said that the state is witnessing drought and floods, both of which totally leave farmers in dire straits. With the flood victims having been rehabilitated in the state, the CM said that he has laid more emphasis on rehabilitating the farmers of the drought and flood-affected areas.
Rs 466 cr has been earmarked for the loan waiver scheme. The interest on the mid-term and long-term loans of farmers availed from DCC, PCARD and PACS will be waived off. As many as 92,000 farmers will be benefitted.
The CM has also sanctioned Rs 500 cr for Mahadayi Project, Rs 1500 cr for Yettinahole project and Rs 100 cr for lake development in Bengaluru.
Solution for Bengaluru traffic problems
*Ring road from Bengaluru Silk Board Junction to Airport Outer Ring Road.
*Rs 600 cr for purchasing 1500 buses for BMTC.
*Rs 8,772 cr for the overall development of Bengaluru city
* Electric bike taxi project to be launched.
No ‘kick’ for alcohol lovers
Indian made liquor (IML) will cost more in Karnataka from April 1, as the state budget for fiscal 2020-21 proposed to increase additional excise duty (AED) by 6 per cent per bulk litre or 9 litres of the various brands.
The 6 per cent increase in the AED will cost the cheapest liquor brand by Rs 9 more per carton box of 12 bottles and the costliest brands by Rs 202 per carton box.
“With effective enforcement and regulatory measures, the state excise department will achieve the target of Rs 22,700 crore fixed for the fiscal year,” the chief minister told.
Acche Din for school kids
For the first time ever, the state presented a Children’s Budget and announced that every month, two Saturdays will be ‘No bag day’ for school kids.
Minister for Primary and Secondary Education Suresh Kumar had emphasised the need for ‘No bag days’ in schools and the CM had responded to the same positively. These Saturdays will be used for co-curricular activities, instead of conducting regular classes.
Hike in fuel price
The CM has hiked the taxes on petrol and diesel. The tax on petrol is all set to shoot up to 35 per cent from existing 32 per cent and the tax on diesel will be hiked from existing 21 per cent to 24 per cent.
Fisheries sector gets enough attention
*The CM has offered ‘Karnataka Matsya Vikas Yojana’ with the aim of helping the fishermen of the state adopt new technologies in fishing. He has earmarked Rs 1.5 cr for the same.
*The CM has made an allocation of Rs 5 cr to provide two-wheelers to fisherwomen.
*Rs 2 cr for setting up a hatchery in Mulky.
*Rs 12.5 cr for the fish export centre at the new fisheries port in Kulai.
*Setting up fisheries port at Hejamady Kodi at Rs 181 cr.
*Rs 4 cr for development of Karwar fisheries port.
Congress creates ruckus
Within a few minutes of the CM starting his Budget speech, the Congress members created noise demanding budget copies.
Congress leader RV Deshpande said that the government had not even handed over the copies of the budget to the members.
The Speaker, who intervened asked the members to be patient. He said that the budget copies would be made available only after the CM’s budget speech.
Vehicle tax up on mini-buses, sleeper coaches in Karnataka
Motor vehicle tax on mini-buses with 12-20 seats and new model sleeper coaches would be increased in Karnataka from April 1 to mobilise additional resources,” said Chief Minister B.S. Yediyurappa on Thursday.
“I propose to levy motor vehicle tax on mini-buses with 12-20 seats at Rs 900 per seat per quarter and on new model sleeper coaches Rs 4,000 per sleeper per quarter to raise more resources,” Yediyurappa said while presenting the state budget for ensuing fiscal 2020-21 in the assembly here.
Yediyurappa, who also holds the finance portfolio, has set a target of Rs 7,115 crore for the transport department to achieve in the next fiscal.
Stamp duty on new flats cut 3% in Karnataka
To promote affordable housing, stamp duty on new flats or apartments costing less than Rs 20 lakh would be reduced to 2 per cent from 5 per cent from April 1, said state chief minister B.S. Yediyurappa on Thursday.
“I propose to reduce stamp duty on first time registration of new flats or apartments costing less than Rs 20 lakh to 2 per cent from 5 per cent,” said Yediyurappa while presenting the state budget for ensuing fiscal 2020-21 in the legislative assembly here.
The state revenue department has collected Rs 10,248 crore till February, which is 87 per cent of the annual target of Rs 11,828 crore fixed for the fiscal 2019-20 a year ago.
The revenue collection target for fiscal 2020-21 is fixed at Rs 12,655 crore.
“As online registration of bank and NBFC (non-banking financial companies) loan documents will be facilitated through national e-Governance Service Ltd, stamp duty can be paid online from the new fiscal,” Yediyurappa told the lawmakers in the House.
The Kaveri software of the stamps and registration department will be integrated with the e-Aasthi (property) application of the state urban development department.
“Kaveri-2 software application will be developed in the new fiscal for registering immovable property documents,” added the chief minister.
Rs 11,887 crore cut in central funds to Karnataka
Revenue resources of Karnataka slumped owing to Rs 11,887 crore reduction in central funds to the southern state for the fiscal 2019-20, Chief Minister B.S. Yediyurappa said on Thursday.
“As the state’s share in central taxes declined during the current fiscal (2019-20), there is a reduction of Rs 8,887 crore to Karnataka from the Centre. Due to slump in collection from the Goods and Services Tax (GST) regime, the compensation to the state will be Rs 3,000 less for this fiscal,” said Yediyurappa while presenting the Budget for the ensuing fiscal (2020-21) in the Assembly here.
Admitting that the fiscal under review (2019-20) has been a difficult year to reach the Budget targets, the Chief Minister said the seven-month-old BJP government had to slash the expenditure of many state departments.
“As per the 15th Finance Commission interim report, the reduction in the state’s share of central taxes will be Rs 11,215 crore for the new fiscal (2020-21). Though the 14th Finance Commission had fixed the state’s share out of total central collection at 4.7 per cent, the 15th panel has reduced it to 3.64 per cent,” pointed out Yediyurappa, who also holds the finance portfolio.
As against the 7.8 per cent gross state domestic product (GSDP) for fiscal 2018-19, its estimate for fiscal 2019-20 is expected to decline 1 per cent to 6.8 per growth rate by this month-end.
(With inputs from IANS)
