News Karnataka
Friday, December 08 2023

Karnataka witnesses price hike in commodities from August 1

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Bengaluru: Recently, the Karnataka government has taken measures to raise the prices of essential daily commodities and impose higher taxes. As of August 1, there have been price hikes for various items, including vegetables, petrol, milk, hotel and restaurant services, and gas cylinders.

One notable change is the increase in milk prices by ₹3, starting from August 1. The hotels association has also decided to raise their prices by 10% to match the rise in milk product costs.

Unfortunately, these price increases are affecting service-based businesses and daily-wage workers. The latter group, who used to earn around ₹600-700 per day, now seeks a wage hike to ₹1100 per day to cope with the rising living costs.

The commodities experiencing price hikes in August are as follows:

1. Vegetables: Prices of vegetables, particularly tomatoes, have soared significantly. Additionally, beans, chillies, bottle gourds, and other vegetables have also witnessed substantial price increases without government intervention.

2. Milk: The Karnataka Milk Federation proposed a ₹5 per liter increase, but the government approved ₹3 per liter starting from August 1.

3. Excise duty: The introduction of the five guarantee schemes led to a 20% increase in the excise duty for various alcoholic beverages.

4. Hotel snacks: Following the rise in milk prices, the hotel association has decided to raise food and snacks prices by 10%.

5. Registration and stamps: Prices for land and house-related registrations have been raised.

6. Motor vehicle tax: The tax on commercial vehicles has been increased, generating anticipated earnings of ₹472 crores.

7. Dept of Mines and Geology: House-building materials’ prices like gravel, sand, and granite are expected to rise due to revenue collection targets set by the government.

To maintain balance after implementing the Shakti scheme and acquiring additional buses, the Karnataka State Road Transport Corporation (KSRTC) has decided to increase bus fares by ₹2 to ₹5, starting from August 1.

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