Karnataka Chief Minister H D Kumaraswamy announced a number of populist schemes including huge farm loan waivers to the tune of Rs 2 lakh while presenting his maiden budget on Thursday July 5, in Vidhana Soudha in Bengaluru.
The budget proposes formation of a farmer’s consultation committee comprising of progressive farmers. CM Kumaraswamy allocates Rs 50 crore for a zero budget natural farming on the lines of Andhra Pradesh. The total size is Rs 2.13 lakh crore, of which Rs 34,000 crore will be set aside for the loan waiver in the budget.
H D Kumaraswamy announces a hike in power tax from 6% to 9%. Petrol prices will increase by Rs 1.14 per litre and diesel by Rs 1.12 per litre. The Chief Minister said hike in the price of petrol and diesel would be lower in Karnataka if compared to the neighbouring states.
The maiden budget announced a new scheme names ‘Mathrushri’, which proposes to transfer money directly to the bank accounts of pregnant women from BPL families. Rs 350 crore will be allocated for the same and will be implemented from November 1.
The budget also announced Rs 25 crore for various religious institutions in the state.