Mar 5: The Karnataka government on Thursday proposed to increase rate of tax on petrol and diesel by three per cent which would make the fuel dearer by Rs 1.60 and Rs 1.59 per litre, respectively.
Presenting the 2020-21 budget in the Legislative Assembly, Chief Minister B S Yediyurappa proposed to increase rate of tax on petrol from 32 per cent to 35 per cent and diesel from 21 per cent to 24 per cent, as part of additional resource mobilisation measures.
Yediyurappa, who also holds the finance portfolio, increased excise duty on Indian Made Liquor (KML) across 18 slabs by six per cent.
However, to promote affordable housing, the government proposed to reduce stamp duty on first time registration of new apartments/flats costing less than Rs 20 lakh from existing five per cent to two per cent.
This is the first budget of the BJP government after coming to power last year; it's the seventh presented by Yediyurappa.
"For the year 2020-21, a total amount of Rs 55,732 crore is provided for stimulating economic growth sector", the Chief Minister said.
He said the revenue collection target for the Commercial Taxes department for the year 2020-21 is fixed at Rs 82,443 crore.
Stating the government had fixed a revenue target of Rs 20,950 crore for the excise department for the year 2019- 20, he said at the end of February Rs 19,701 crore had been collected.
"We hope to achieve the budget target."
He also hoped with the increase in rates and effective enforcement and regulatory measures, the Excise department would be achieving the target of Rs 22,700 crore fixed for the financial year 2020-21.
On the transport sector, Yediyurappa said it is proposed to levy motor vehicle tax on contract carriages having seating capacity to carry more than 12 passengers, but not more than 20 passengers at the rate of Rs 900 per seat per quarter.
He said it is also proposed to levy vehicle tax on new model sleeper coaches which are granted permits under section 88 (9) of MV Act 1988 at the rate of Rs 4,000 per sleeper per quarter.
Noting that a target of Rs 7,100 crore revenue collection is expected to be achieved in 2019-20 in transport sector, he said for 2020-21 revenue collection target has been fixed at Rs 7,115 crore.
He said the revenue collection target for 2019-20 under stamps and registration was fixed at Rs 11,828 crore and against this Rs 10,248 crore has been collected till the end of February 2020 which is 87 per cent of full year target.
While the revenue collection target for 2020-21 under stamps and registration is fixed at Rs 12,655 crore.
Comments
Is Modi Govt taking care of indians or UK. Is he PM for UK or India. He has already sold India in the hands of foreign investers and now selling indian assets also which was inherited from old kings. May be Modi will sell Taj Mahal, Qutub Minar, Vidhana soudha, Srirangapatna Mandir, Kollur Mandir to foreigners and make money for bjp and its supporters. shame on you bjp Govt. It will be better to kick out this Govt very soon otherwise we Indians will be completely sold out to foreigners. Beware of this looter's Govt.
Cheddi fans are BLINDLY supporting him. Start opening your EYES ... Looters have no issue and those helper who in the first place helped the british to loot the KOHInoor has no issue... Its not new.
Modi Govt. is a very big fake and rubbish Govt. any promise they fulfilled till now..?, hope their term will complete very soon after that only Acche Din will come..
After all RSS is the agent of British raj. How can they go against their
will ? THE REAL NAME OF RSS IS ROYAL SECRET SERVICE, which was giving then British rulers information about indian freedom fighters.
They are their sole agent then and even now.!
BLACK MONEY BHI NAHI KHOHINOOR BHI NAHI
Waah thief waah!!!
Next he will tell British never invaded India.
We invited them to learn to wear bikini.
RSS is the enemy of India.
It did not surprise me... We know cheddis partner during freedom struggle...
I think Kohinoor diamond belongs to Mugals (Shahajan). how Ranjith Sing is gifting British
Yes, its nice to see it with queen rather than kept here in India...someone will take it if it is kept here....can't trust....
Same like \National Herald is gifted to Sonia Gandhi and not looted by her\" as claimed by Congress party."
If a slave gives a \gift\" to his master, there is always room for reinterpreting the idea behind the \"gift\". But if the new masters are not different from the old, how can this happen? This is the tragedy of India - and this is why we ought to see that the Cong, BJP, CPI etc are actually a continuation of the British colonial legacy. You can defeat them in some cricket matches, but when it comes to substantive issues, you concede the match even before it begins. This is the colonialism of the mind."
Look like air leaking from 56inch chest.
Soon it will be 26 inch.
This decision of govt also justify
British rule over India.
Shame on BJP.
bjp and rss revere godse, the criminal who brutally killed Gandhiji. bjp/rss are agents of british
We want Kohinoor back, who is government to tell them to keep it and they then call themselves as nationaliats. These are real anti-nationals and agents of British.
@Tolerant Indian: Disappointing. The Brits don't deserve our Kohinoor. But if was a gift, then we shouldn't be expecting it back. Blame our Maharaja of Punjab. Height of MASKA GIRI.
Tolerant Indian: spineless modi. Kohinoor belongs to India. it is India's shaan. lalit modi now vijay mallaya took our money to UK. farmers and poor are committing suicide and government gifting riches to other countries.
@Tolerant Indian: Indians have the generosity to make the world rich, by gifting and stashing money in foreign countries!
We have had gifted everything to British during British rule! And now our Rich Indians started gifting by moving out of the country to get settled in UK? There is no surprise, everything is fine in Love to English!
Bring Kohinoor Back Kohinoor was our heritage, it should be brought back.
Kohinoor wasn't a gift. But a war prize that was pushed down our throats by sly East India Co. Better revise stand.
Everyone knows that RSS is always acted as British agent.
Kohinoor was not stolen from India. It was merely abducted. Shine On You Crazy Diamond.
Someone just told me 'we have enough gems in the govt, who needs Kohinoor.'
Okay Britain, let's do a deal. You give us back on thing we gave you - Kohinoor. We'll give you back one thing you gave us - Section 377.
modi govt run by buffoons: Kohinoor gifted by Ranjit Singh to brits? he died in 1839, brits snatched diamond in 1849!
After all, the difference between \gifted\" and \"lifted\" is just one letter."
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