112th Day Of Lockdown

Maharashtra26766514900710695 Tamil Nadu147324973102099 Delhi115346932363446 Karnataka4407717391846 Gujarat43723305552070 Uttar Pradesh3972424981983 Telangana3774524840375 Andhra Pradesh3301917467408 West Bengal3283819931980 Rajasthan2557119169524 Haryana2262817090312 Madhya Pradesh1900513575673 Bihar1885313019143 Assam178081217451 Odisha14280986496 Jammu and Kashmir111736223195 Kerala8931443835 Punjab85115663213 Chhatisgarh4379327520 Jharkhand4225242836 Uttarakhand3686286750 Goa2753160718 Tripura218315382 Manipur167210200 Puducherry153182918 Himachal Pradesh130993810 Nagaland8963460 Chandigarh60044610 Arunachal Pradesh3871453 Meghalaya318462 Mizoram2381590 Sikkim211860
Business Other News 05 Jul 2018 Kumaraswamy increase ...

Kumaraswamy increases rate of tax on petrol and diesel in maiden budget

PTI
Published Jul 5, 2018, 1:01 pm IST
Updated Jul 5, 2018, 1:04 pm IST
Kumaraswamy recalled his assurance to waive all types of crop loans of farmers taken for agricultural activities.
Karnataka Chief Minister H D Kumaraswamy. (Photo: PTI)
 Karnataka Chief Minister H D Kumaraswamy. (Photo: PTI)

Bengaluru: In a big relief to the farm sector, Karnataka Chief Minister H D Kumaraswamy today announced a mega Rs 34,000 crore farm loan waiver scheme in the maiden budget of the Congress-JDS coalition government.

Unveiling the budget proposals in the Assembly, Kumaraswamy, who also holds the finance portfolio, said he has limited the loan amount to Rs 2 lakh, as it was "not right" to waiver higher value crop loan.

 

"Due to this crop loan waiver scheme, farmers will get the benefit of Rs 34,000 crore," Kumaraswamy said, seeking to fulfil a major electoral promise made by the JDS in its manifesto for the recently held assembly polls in the state.

With the waiver scheme imposing a huge burden on the exchequer, he also announced proposals to mop up additional resources, including increase in the rate of tax on petrol by Rs 1.14 per litre and diesel by Rs 1.12 per litre. He also proposed a hike in the additional excise duty on Indian-made liquor by 4 per cent across the board on all 18 slabs.

 

Kumaraswamy recalled his assurance to waive all types of crop loans of farmers taken for agricultural activities within 24 hours of formation of a full-fledged government.

"However, even though the people of the state have not blessed a single party government, I have been provided with a good opportunity to form a coalition government and to work as chief minister of that coalition," he said.

Kumaraswamy said he had decided to waive all defaulted crop loans of the farmers made up to December 31, 2017 in the first stage.

Besides this, it has been decided to credit the repaid loan amount or Rs 25,000, whichever is less, to each of the farmers account, to help farmers who had repaid the loan within time, the chief minister said.

 

The families of the government officials and officials of the cooperative sector, farmers who have paid income-tax for the past three years and other ineligible farm loan recipients will be outside the purview of the loan waiver scheme. 

...
Location: India, Karnataka, Bengaluru




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT