Bengaluru, Mar 6: In the face of unprecedented economic difficulties, Chief Minister B S Yediyurappa has chosen to hike the prices of fuel and liquor to fund development in his 2020-21 Budget, which tries to offer something for everybody with the available resources.
Yediyurappa announced a 3% hike in the rate of tax on petrol and diesel. This will result in the prices of petrol going up by Rs 1.60 per litre and diesel by Rs 1.59 per litre. This is expected to fetch the government Rs 1,500 crore.
By hiking additional excise duty on Indian Made Liquor (IML) by 6%, the government hopes to mop up Rs 1,200 crore.
In essence, Yediyurappa, the finance minister, pointed fingers at the Centre for the state’s fiscal woes. He said Karnataka’s share in Central taxes has come down this fiscal by Rs 8,887 crore. Plus, Rs 3,000 crore GST compensation will also be reduced as collections from the GST cess are not on expected lines, he said in his Budget speech.
“It has become difficult to reach the 2019-20 Budget targets due to these reasons. To manage this situation within the bounds of the Karnataka Fiscal Responsibility Act, it has become inevitable this year to cut down the expenditure of many departments,” he said.
Under the 15th Finance Commission, Karnataka will see a reduction of Rs 11,215 crore in the state’s share of central taxes in 2020-21, Yediyurappa said. He also pointed out that expenditure on salaries, pensions and loan interest payments had risen by Rs 10,000 crore. “Serious difficulties are being faced in resource mobilisation efforts of the state. The state never faced economic difficulties of this magnitude in the previous years,” he said.
But in an attempt to please all, Yediyurappa made announcements across sectors and communities. Instead of the usual department-wise announcements, the CM chose to divide the Budget into six sectors: agriculture & allied activities; welfare & inclusive growth; stimulating economic growth; Bengaluru development; culture, heritage & natural resources and administrative reforms & public service delivery.
Farmers will get additional incentives under PM-KISAN costing Rs 2,600 crore and a waiver of interest on loans they have borrowed from cooperative banks worth Rs 466 crore.
The CM has earmarked Rs 500 crore to start work on the Kalasa-Banduri canals under the Mahadayi project. Also, Yediyurappa has given Rs 1,500 crore to commission the Yettinahole drinking water project.
This project will cater to the districts of Hassan, Chikkamagaluru, Tumakuru, Bengaluru Rural, Ramanagara, Chikkaballapur and Kolar.
For Bengaluru, the CM has made an allocation of Rs 8,772 crore. This includes Rs 500 crore for the suburban rail project, an electric bike taxi project and bus priority lanes.
Significantly, Yediyurappa has not made any allocation to mutts. However, the government will spend Rs 100 crore on the Anubhava Mantapa at Basavakalyan, Rs 66 crore for a 100 ft Kempegowda statue in Bengaluru and Rs 20 crore on a 325 ft statue of Basavanna at the Murugha Mutt in Chitradurga.
The CM has given Rs 305 crore for the development of various communities — Christians (Rs 200 crore), Upparas (Rs 10 crore), Vishwakarma (Rs 25 crore), Ambigara Chaudaiah (Rs 50 crore), Arya Vysya (Rs 10 crore) and Kumbara (Rs 10 crore).
Also, nearly 22.5 lakh government employees and their dependents will get cashless treatment facility for surgical treatment procedures at an estimated annual cost of Rs 50 crore under the Jyothi Sanjini scheme, the CM said.
Comments
hello there and thank you for your info – I have certainly picked up anything new from right here.
I did however expertise some technical points using this website, as I experienced to reload the wesite a lot of
times previous to I could get it to load correctly. I had been wondering if
your web hosting is OK?Not that I'm complaining, but slow loading instances times will sometimes
affect your poacement in google and can damage
your high-quality score if advertising and markoeting with Adwords.
Well I am adding this RSS to my e-mail and can look out for much more of your
respective interesting content. Make sure you update this again soon.
Heree is my web-site :: Vape: http://demosite.center/punbb/profile.php?id=651
Hi there to every body, it's myy fist visit of this web site; this blog contains remarkable
and truly fine daqta for visitors.
My webpage :: visit this page: http://www.mochizuki.com/cgi/bbs/g_book.cgi/RK=0/g_book.cgi)
Everyone loves what you guys are upp too. This sort of clever work
and exposure! Keep up the exccellent works guys I've added you guuys to
our blogroll.
Feel free to visit my homepage: travel: http://www.jetlac.de/mgb/index.php
Apprfeciate thhe recommendation. Let me try it out.
Also visit my blog post: saba ace diet pills reviews: http://uoa.pp.ua/wiki/profile_kathrinh80
I am not suree where you are getting your information, but
great topic. I needs to spend some time learning much more or understanding more.
Thanks for wonderful information I was looking for
this information for my mission.
my blog post: Electronic
Cigarette: http://uoa.pp.ua/wiki/how_to_get_psyched_with_fi_st-time_vaping
Add new comment