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
It is pre-planned murder,,,tmrw musthafa is to be released from jail
Those who r congratulating for the murder, please go and do it by yourself and feel proud. No... you cant do and u will never do it bcoz it will spoil ur future and your family.
Yererna ammana mage jaild kuriyinda kuriyad nank daane atthe.
Be a human first
Some ppl r happy for the above news..Now kiran will meet d same fate by someone else.
Its easy to type and comment congratulating kiran, but saddna tho kiran ko hai.
Kiran wait for your turn...
This is expected.........Accused considered as culprit.......
In reality culprit ruling the nation...........
falsehood bound to persish.truth prevails.....
For a Mumin if die in the cause of Truth or win both same..... both considered as victory
Indeed great news ... tax payer money saved ,billawa youth prashanth pujari atmakke shanthi sikthu ... good job kiran ... terrorists and criminals must meet the same fate ...
Inna Lillahi wa inna ilaihi rajioon
God is great, he dispensed justice inside the jail.
60% Cops are to be considered as terrorist.
Strange, encounter in jail.......Muslims have to suffer everywhere in the name of terrorism.....
Strange, How the criminals get lethal weapons in the Jail????
why the jail is providing them entertainment channel, So, this is the reason people do not hesitate to commit crime. Because they are getting everything in the Jail and leading a lavish lives over there.
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