Karnataka Budget: CM Siddaramaiah has focused on farmers and agriculture
Bengaluru: Chief Minister Siddaramaiah has addressed issues concerning farmers and provided schemes and support for agriculture and rural development. He has extended support for industrial development, skill development and last-mile connectivity. Because of Karnataka’s vibrant eco-system, including cutting-edge technologies, the state is an attractive destination for investment and business.It is the technology hub and the Start-Up Capital of India.
He has provided Rs 150 crore to the BBMP for the construction of railway over bridge and under bridge for uninterrupted movement of vehicles and a grant of Rs 300 crore for the development of storm water drains for easing the living condition of Bengalureans. The proposal to make Bengaluru the Electric Vehicle Capital of India and Introduction of 150 electric buses in Bengaluru and 50 such buses in Mysuru is a welcome move.
We thank the chief minister for considering the request made by the FKCCI by allotting two acres of industrial land / sites by KIADB and KSSIDC to SMEs on a 10-year lease cum sale basis, instead of the existing 99-year lease. We also thank him for accepting our proposal to increase the loan amount from Rs 50 lakh to Rs 2 crore at 4% interest by KSFC to women entrepreneurs. A grant of Rs 189 crore for the e-governance department is also a welcome move.
He should be congratulated for not making any new tax proposals and also not burdening the common man with new taxes. The tax exemption on rice, wheat, ragi etc., is a welcome move.
The proposal of Karasamadhana Scheme for Taxes due under commercial taxes, waiving of penalty and interest to the tune of 90%, if the principle amount is paid on or before May 31, 2017 will relieve the burden on dealers who are in arrears of taxes so as to migrate with a clean slate to GST.
We also welcome the removal of VAT on liquor served in bars and restaurants with effect from April 1, 2017.
However, the request made by the federation for the abolition of trade license which facilitates ease of doing business was not considered in the budget.
