BENGALURU: The middle class is expected to bear the brunt of farm loan waiver, as the State has decided to various taxes to ensure 'additional resource mobilisation'.
Fuel, alcohol, vehicles and electricity will be costlier following the budget. As per the new budget by Chief Minister H D Kumaraswamy, rate of tax for petrol and diesel has been increased from 30 per cent to 32 per cent and 19 per cent to 21 per cent respectively. This will add to the already high fuel prices, making them dear by Rs 1.14 and Rs 1.12 respectively.
Similarly, the State has increased existing rates of additional excise duty by four per cent on all 18 slabs of liquor sold.An increase of 50 per cent has been proposed for private vehicles. The government will also increase existing taxation on consumption of electricity from six per cent to nine percent