Karnataka CM HD Kumaraswamy who was keen on presenting a full-fledged budget instead of a supplementary budget as suggested by former CM Siddaramaiah, announced a Rs 34,000 crore farm loan waiver scheme on Thursday. Meanwhile the much anticipated farm loan waiver will nullify loans up to Rs 2 lakh per family taken from recognized financial institutions and defaulted up to December 31, 2017. Further, as an encouragement to the non-defaulting farmers, the farmers will credit the repaid loan amount or Rs 25,000 to them, whichever is less, announced the CM.
Accordingly the farm loan waiver was along expected lines after Kumaraswamy had himself promised to waive loans farmers within 24 hours of coming to power. CM Kumaraswamy has tried to balance the spending on farm loan waiver with increased taxation on fuel, alcohol, vehicles and power usage and this will certainly hurt the common man. Furthermore in order to meet a revised excise revenue target of Rs 19,750 crore, the budget has proposed Additional Excise Duty on Indian Made Liquor by 4% on all 18 slabs.
Moreover the taxation on consumption of electricity
increased to 9% and the rate of taxation on consumption of captive energy
increased to 20 paise per unit. Reports added the motor vehicle taxes have also
been increased by 50% based on square metre of floor area while sales tax on
petrol and diesel will be raised by 2%, which means that petrol and diesel will
be taxed at 32% and 21% respectively.
Indian Railways linked its locomotives via ISRO satellites According to sources the Indian Railways has linked its locomotives via ISRO satellites, making it easy to track trains and automatically feed the control charts about the trains arrival and departure. The officials said "A new beginning has been made in the new year: the train movement information is acquired and fed to the control charts using ISRO (Indian Space Research Organization) satellite based real time train information system (RTIS) automatically”.
- Jallikattu opening day Festival begins with 500 Bulls in Tamilnadu
- Will Indra Nooyi become World Bank President?
- Yogi Adityanath record spending on festival!
- Supreme Court hearing on Interim CBI chief!
- Is YS Jagan is allying with KCR to form Andhra Drohula Front?
- Indra Nooyi been courted as an administration ally by Ivanka Trump
- How to Copy in Exams? Ad went viral in WhatsApp
- Why Shashi Tharoor not allowed into Sree Padmanabhaswamy temple in Kerala with PM Modi?
- 2 Young Women decided to contest Telangana Panchayat Polls
- 2.0 s costumes, Robot Models exhibited at Chennai Island Grounds
- Vishal confirms his wedding with Hyderabad based Businessman daughter
- 2 Women who unsuccessfully attempted to enter Sabarimala temple begins hunger strike
- Flight operations at Bengaluru airport to face disruptions from February 14 to 24
- Will YS Jagan accept invitation from KTR in joining Federal Front?
- Why YS Jagan Sister made a complaint with Hyderabad Police?