Mumbai: Amid high hopes of farm loan waiver, Karnataka Chief Minister H D Kumaraswamy presented the state's maiden budget on Thursday. He announced a farm loan wavier amounting to Rs 34,000 crore.
During the election campaign, the Kumaraswamy-led JD(S) had promised to waive farm loans borrowed both from cooperative and nationalised banks within 24 hours of coming to power.
Loan waiver will be applicable only for those farmers whose borrowings are less than Rs 2 lakh.
Here are the LIVE updates of the Karnataka Budget 2018:
12:43 pm: Bellandur lake known for its pollution, has been given Rs 50 crore for rejuvenation for its all round development.
12:40 pm: "Considering the popularity of Indira Canteens in Bengaluru, action has been taken to open 247 Indira Canteens in all taluks and district head quarters of the state at an expenditure of Rs 211 crores," says Kumaraswamy.
12:25 pm: 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.
12:22 pm: New super specialty hospitals will be opened at Belagavi, Kalaburgi and Mysuru cities to provide tertiary health services relating to heart, cancer and other diseases.
12:21 pm: In an attempt to address the issues of street vendors/small vendors, state government to come up with Badavara Bandhu mobile service in five cities of Karnataka
12:20 pm: Tax on consumption of electricity proposed to be increased from 6 per cent to 9 per cent.
12:18 pm: 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: Karnataka CM HD Kumaraswamy.
12:10 pm: The government will grant Rs 150 crore to introduce the Israel model dryland irrigation in Kolar, Chitradurga, Koppal and Gaddag.
12:02 pm: Hike in petrol prices by Rs 1.14 and Rs 1.12 in diesel proposed.
42 continuous ambient air quality monitoring stations to come up with Rs 96 crore investment under district mineral fund
12:01 pm: A special package of Rs 150 crore has been provided for repairs of government primary, high school and pu colleges buildings
12:00 pm: I have decided to limit the loan amount to Rs 2 lakhs. Due to this crop loan waiver scheme, farmers will get the benefit of Rs 34,000 crore: HD Kumaraswamy while presenting the budget in Vidhana Soudha.
Loan waiver will be applicable only for those farmers whose borrowings are less than Rs 2 lakh
11:56 am: ​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 Kumaraswamy.
11:55 am: 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 2018-19 budget: Karnataka CM HD Kumaraswamy while presenting the budget
11:55 am: Kumaraswamy announces farm loans upto Rs 2 lakh waived.
He also proposed 4 per cent tax hike on liquor in the budget.
Excise duty increased to generate funds for farm loan waiver.
11:47 am: Karnataka Chief Minister HD Kumaraswamy presents the government's first budget at Vidhana Soudha.
10:50 am: "It is a new experience for me as a finance minister. I have taken up this as a challenge to give a surplus budget," said Karnataka CM H D Kumaraswamy before presenting the government's first budget.
10:48 am: Budget copies being taken inside the Karnataka Legislative Assembly. Chief Minister HD Kumaraswamy will present the government's first budget.
