STOCK MARKET BSE NSE

Karnataka Budget-2018 HIGHLIGHTS | Power, petrol prices to go up in H D Kumaraswamy's maiden budget

The budget proposes a hike in power tax from 6% to 9%. Petrol prices will increase by Rs 1.14 and diesel by Rs 1.12 per litre. H D Kumaraswamy announced farm loan waivers up to Rs 2 lakh too.

Published: 05th July 2018 11:25 AM  |   Last Updated: 05th July 2018 01:57 PM   |  A+A-

H D Kumaraswamy presents budget on Thursday ( Photo | New Indian Express)

By Online Desk

Karnataka Chief Minister H D Kumaraswamy announced a number of populist schemes including huge farm loan waivers to the tune of Rs 2 lakh while presenting his maiden budget on Thursday 11:30 AM in Vidhana Soudha in Bengaluru. Kumaraswamy, who is also the finance minister, is expected to present a  populist budget aimed at the rural masses.

Heading the party with the symbol of a farm woman carrying a haystack, Kumaraswamy’s budget has a few novel programmes to reach out to farmers. Congress president Rahul Gandhi has already indicated farm loan waivers among other sops.

The budget will have many a gift for other segments of the society too apart from the farming community.

 

12:58 Jul 5
12:52 Jul 5

International Science Center to be established at Hosur of Chikkaballapur district in the memory of Padma Bushan Dr. H Narasimaiah, educationist.

12:49 Jul 5
12:48 Jul 5

Tax proposals

  • 100% waiver of penalty and interest on payment of full tax on or before 30 October 2018 to reduce arrears under provisions of central sales tax act.
  • Additional excise duty increased on Indian Made Liquor for all 18 slabs by 4%
  • MV taxes to be increased by 50% for private service vehicles based on sq meter of floor area.
  • Taxation on consumption of electricity will be increased to 9% from current 6%.
  • Consumption of captive energy rate of tax will be increased from 10 paise/unit to 20 paise/unit.
12:46 Jul 5

Water Supply and sewerage

  • Rs. 10 crore to be provided to construct a chemical waste treatment unit in Peenya in Bengaluru.
  • Rs. 50 crore to provide additional 300 MLD water supply from Cauvery river to 92 parched districts in Mysuru district.
12:45 Jul 5

 

State revenue minister R V Deshpande during the budget session at Vidhan Soudha (Photo | Nagaraja Gadekal/EPS)

12:42 Jul 5

Boost for Bengaluru

  • Six interconnected elevated corridors in 4 years at cost of Rs. 15,825 crore.
  • Rs. 1000 crore to be spent this year for the same project.
  • 65 kilometer long peripheral ring road to come up at the outskirts of Bengaluru at cost of Rs. 11,950 crore.
  • Rs. 50 crore for all round rejuvenation of Bellandur lake.
12:41 Jul 5

Public Work Department

Ring road to come up around Hassan city at cost of Rs. 30 crore.

12:38 Jul 5

Information and Public relation

  • Rs. 30 crore to open film university at Ramanagara under PPP model.
  • Rs. 40 crore capital to encourage industries providing support to film industry in Ramanagara film city.
12:37 Jul 5

Kannada and Culture

Adi Shankracharya Jayanthi to be celebrated across the state.

12:37 Jul 5

E-governance

  • Video conference facility till Gram Panchayat level to allow citizens to talk to CM directly without making a long trip to Bengaluru.
  • Family IDs to be created to provide family oriented facilties by extending the public distribution system data bank for programmes of various departments.
12:36 Jul 5

Transport

  • Integrated Road Transport Authority under Chief Minister's Chairmanship.
  • Transport Corporations intend to purchase 4236 new buses for public use.
12:35 Jul 5

Commerce and industries

  • Kalaburagi district to be developed as Bharat Solar district.
  • Rs. 2000 crore to be invested for production of sports and fitness goods in Tumakuru district to create 1 lakh jobs.
  • Rs. 2000 crore capital to companies willing to manufacture agricultural implements in Bidar district.
  • The state will invest a total of Rs. 14,000 crore to create 8 lakh jobs in 7 districts in the coming years.
  • Kumaraswamy proposed to pay Rs. 10,000 per annum to skilled labourers working in the micro and small coconut fiber industry.
  • Mining and mine safety procedure training course to be made compulsory for quarry contractors.
12:34 Jul 5

 

A view of the assembly during the Karnataka Budget 2018 (Photo | Nagaraja Gadekal)
12:33 Jul 5

Forest, Environment and Ecology

  • 42 continuous ambient air quality monitoring stations at the cost of Rs. 96 crore will be established
  • Hasiru Karnataka project, a movement to grow trees suitable to each area in Government owned lands will be started.
  • Rs. 40 crore for fencing protection for forests located in hilly areas.
12:31 Jul 5

Endowment

The Government will establish a Karnataka State Brahmin Development Board for economically weaker sections of the community at a cost of Rs. 25 crore.

12:31 Jul 5

Water resources

Work for Mahadayi river will be taken up only after the river tribunal decision which is expected in August 2018.

12:30 Jul 5

Rural development

Jaladhare project at a cost of Rs. 53,000 crore to be implemented in a staged manner to obtain drinking water from reservoirs and rivers and supplied after purification to rural areas.

12:29 Jul 5

Housing

The Karnataka Government has proposed multi-floor houses, Ground floor plus 14, for the urban poor in Bengaluru.

12:27 Jul 5

 

Former chief minister Siddaramaiah reading Kumaraswamy's budget (Photo | Nagaraja Gadekal)
12:25 Jul 5

Medical education

A new medical college to be opened in Kanakpura. Rs. 40 crore to establish 300 bed super-speciality hospital in Kumaraswamy's constituency, Ramanagara.

12:25 Jul 5

Education

A special package of Rs. 150 crore for repairs of government primary, high School and pre-university buildings.

Biometric instruments in all 48,000 government schools in three years to check attendance. 

12:21 Jul 5

BMTC gets subsidy of Rs 100 crore

12:20 Jul 5

Women and Child Welfare

  • Rs. 350 crore earmarked for Chief Minister's Matrushri scheme.
  • Rs. 1000 per month direct transfer to pregnant women 3 months before delivery and 3 months after for the first two children.
  • Scheme to be implemented from 1 November 2018.
  • Rs. 5 crore towards survey of persons with 21 types of disabilities.
12:19 Jul 5

Food and civil supplies

Anna Bhagya scheme to be enhanced to include 5 kg free rice, 1/2 kg Toor dal at subsidised rates, 1 kg palm oil, 1 kg salt and 1 kg sugar to each BPL card holder.

12:18 Jul 5

Social welfare

  • Subsidy for Ganga Kalyana scheme (irrigation scheme for SC/ST). Present limit to be increased to Rs. 3 lakh for SC and Rs. 4 lakh for ST's.
  • A grant of minimum of Rs. 1 crore and maximum Rs. 5 crore for Pragathi Colony Scheme which aims to develop Thandas (colonies) where SC/ST's live in a large number.
  • SC/ST model villages to be constructed in select districts.
  • Total grant of Rs. 25 crore to me earmarked for religious maths and insitutions that provide social service on a secular basis.
12:17 Jul 5

Tourism sector

  • Skill development training for men and women as tourist guides in Belur, Hampi and Vijayapura at the cost of Rs. 60 lakh as share capital to training institutes.
  • Rs. 3 crore share capital for private companies to open 3 star hotels.
  • Rs. 80 crore earmarked for investment in tourism industries.
12:15 Jul 5
12:09 Jul 5

Tax on petrol, diesel to be increased

11:58 Jul 5

I have decided to waive all defaulted crop loans of farmers up to 31 Dec 2017 in the first stage. Farmers who repaid the loan within time,as an encouragement to the non defaulting farmers, I have decided to credit the repaid loan amount or Rs 25000 whichever is less: Karnataka CM

11:56 Jul 5
11:50 Jul 5

Excise duty increased to generate funds for farm loan waiver.

11:49 Jul 5
11:46 Jul 5

'Karnataka will continue tradition of fiscal prudence'

Anna Bhagya and Ksheera Bhagya schemes of Siddaramaiah government praised by HD Kumaraswamy. "Karnataka has a tradition of fiscal prudence and we will continue this.

11:41 Jul 5

'Farm loan waiver a major challenge'

"We have started gathering resources for farm loan waiver," HD Kumaraswamy. The farm loan waiver is a major challenge for the coalition government, he adds. 

11:37 Jul 5
11:18 Jul 5

'New experience for me'

It is a new experience for me as a finance minister. I have taken up this as a challenge to give a surplus budget: Karnataka CM HD Kumaraswamy before presenting the government's first budget

11:17 Jul 5
11:16 Jul 5

What can Bengaluru expect?

  • Rejuvenation of lakes with concrete plans for Bellandur and Varthur lakes.
  • A significant increase in allocation for a Metro project to speed up works; construction of more flyovers and underpasses.
  • Developing a satellite township near Ramanagaram to decongest Bengaluru.
  • Setting up of modern waste-to-energy plants around Bengaluru to address the challenge of garbage disposal.
11:13 Jul 5

For the much-debated farm loan waiver, the Krnataka budget to be presented on Thursday will come with the tag “conditions apply”. The waiver is almost certain to have a maximum limit of Rs 2 lakh or Rs 3 lakh.


Comments(1)

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

  • raji

    shameless coalition government. People gave mandate for change in Government to BJP. Drama makers again back on stage with new facial make up. Siddaramaiah government for past 5 years gave stabilization after SM krishna govenment. HDK as CM is not able administrator and finance minister. Only a chance he has taken. Let people dethrone this government soon. No farmer loan will be waived off. all drama drama drama .
    3 years ago reply
flipboard facebook twitter whatsapp