Mar 18, 2016 09:44 PM IST | Source: IBNLive.com

Karnataka CM Siddaramaiah presents agri focused budget

For Bengaluru city, Rs 100 crore was sanctioned for lake development. The state will also take up rejuvenation work, especially of the frothing Bellandur and Varthur lakes under public-private partnerships, seeking tie-ups under corporate social responsibility too.

Karnataka CM Siddaramaiah presents agri focused budget

The Karnataka government presented a major agri-focus budget on Friday, with chief minister Siddaramaiah announcing that Special Agricultural Zones would be identified in different parts of the state, along the lines of the Special Economic Zones that are formed for industry.

The SAZs will focus on effective techniques for productivity, extending better technology and organic farming.

For Bengaluru city, Rs 100 crore was sanctioned for lake development. The state will also take up rejuvenation work, especially of the frothing Bellandur and Varthur lakes under public-private partnerships, seeking tie-ups under corporate social responsibility too.

Construction of three major elevated corridors has been proposed under the PPP model to ease traffic congestion. This would be at a cost of Rs 18,000 crore.

However, taxes on petrol in Karnataka, which already has the costliest fuel, will go up from 26 to 30 percent, meaning people will pay about Rs 1.89 more for petrol, and 98 paise more for every litre of diesel, where tax has been upped by 3 percent.

The Chief Minister has also hiked taxes on beer and Indian-made foreign liquor, besides all forms of aerated soft drinks. Siddaramaiah has increased motor vehicle levies on vans and buses while exempting plantation crops from agriculture income tax completely.

Eco-friendly and safety-conscious relief have been given, such as lesser taxes on helmets, LED bulbs, adult diapers. All electric vehicles are fully exempt from taxes. This is Siddaramaiah’s 9th Budget since 1994.

The Chief Minister, who also holds the Finance portfolio, has earlier presented five budgets between 1994 and 1999 and again in 2005 as Deputy Chief Minister and Finance Minister.

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