While presenting Congress-Janata Dal (Secular) (JD(S)) coalition government’s maiden budget for 2018-19, Karnataka Chief Minister H.D. Kumaraswamy on Thursday announced a partial farm loan waiver of Rs. 34,000 crore, benefitting those farmers whose borrowings are less than Rs. 2 lakhs.
He further said that the Karnataka government would waive all defaulted crop loans of farmers up to December 31, 2017.
“To facilitate the farmers to avail new loans action will be taken by the govt to issue clearance certificate by waiving the arrears form the defaulting account. For this purpose, Rs 6500 crore is earmarked in the 2018-19 budget,” Kumaraswamy said.
A really good part of the budget is the government’s intention to reward those he didn’t default.
“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,” he said.
Another major announcement was the increase of rate of tax on petrol and diesel.
“I propose to increase the rate of tax on petrol from the present 30% to 32% and diesel from 19% to 21%, so petrol price will be increased by Rs.1.14/ltr and diesel by Rs 1.12/ltr,” he said.
He further said that considering the popularity of Indira Canteens in Bengaluru, action has been taken to open 247 Indira Canteens in all taluks and district headquarters of the state at an expenditure of Rs. 211 crores.
Also read: Modi has broken backbone of farmers: Rahul Gandhi in Amethi
Throwing light on the Anna Bhagya scheme, the Karnataka Chief Minister said, “5kg rice free of cost, 1/2 kg toor dal with subsidized rate and 1 kg palm oil, 1kg iodine and iron content salt and 1kg sugar to each BPL card holder under Anna Bhagya scheme”.
Some other budget highlights include:
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