Karnataka State Budget 2011-12 Highlights and Live Updates

Posted Date: 24-Feb-2011	Category: State Government	Rating:
Author: Roshin K.P	Member Level: Bronze	Points: 30 (Rs 20)

Karnataka Chief Minister Cum Finance Minister B S Yeddyurappa is going to present the Annual Budget for the financial year 2011-12 on Today Feb 24 at 12.PM in the State Legislature Assembly. Here you can read the highlights and live updates of Karnataka State Budget 2011-12.

Karnataka Chief Minister Cum Finance Minister B S Yeddyurappa is going to present the Annual Budget for the financial year 2011-12 on Today Feb 24 at 12.PM in the State Legislature Assembly. It is the 4th budget of him after the BJP government came to power in 2008 Assembly polls.

The specialty of this budget is that the major importance will given to the agricultural growth of the state.So this budget will be a Green Budget aiming to prmote the agricultural growth of the Karnataka State. The expectation are high that the budget will have to satisfy all the major fields of the state.

Major Expectations in State Budget

This is the first exclusive agriculture budget apart from the general budget. There will be so many offers to the farming community like farm loans at a mere 1% interest, incentives and subsidies for farmers switching over to organic farming, substantial increase in allocation for irrigation works in the backward Krishna basin, attractive schemes for purchasing cows and other livestock to encourage dairy farming, and sheep rearing and poultry. As like previous budgets, the minister may continue with the trend of liberal grants for various mutts and religious institutions.

The industrial and transport sectors expect a reduction in the tax on petrol and diesel which is highest among the southern states that about 30% on petrol and 23% for diesel. But the sources say that the chances are rare for such a reduction. The IT sector also expects a strong pitch to lift the Value Added Tax (VAT) on software services. Currently Software services treated like manufacturing sector, but all export services are eligible for VAT exemption.Arron Raman said that the tax-assessment processes and procedures should be simplified for software sector.

A huge employment potential is there if the hardware technology park and aerospace special economic zone near Devanahalli will come true. There is a chance to announce the implementation of monorail feeder services to complement the ongoing metro project. All are looking forward to announce some programmes to improve drainage and drinking water supply in the newly-added areas of BBMP.

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