Highlights of Karnataka Budget – 2018

Karnataka has presented its first Budget after the new State Government came to power. The Policy Times brought you the highlights.

Highlights of Karnataka Budget - 2018

The Chief Minister of Karnataka HD Kumaraswamy released the budget for 2018-2019 in Bengaluru on, July 5th 2018. The budget has taken into consideration many important points which will do justice for the people in Karnataka. Some good, some not so good for the people, however, the benefits outweigh the expenses.

The important points in the planned Karnataka’s budget include-

Loan Waiver

Loans for farmers which are less than Rs. 2 lakh and up to 31 December 2017 in the first stage will be waived off. These farmers, however, need to have paid income tax for the last three years.

Fuel Price Hike

Hike of Rs. 1.14 on petrol and Rs. 1.12 on diesel.

Additional Excise Levy

Excise duty of 4% on India-Made Liquor (IML)

Funds for Repairing Educational Institutes Schools

Rs. 150 crores will be set aside for repairs of schools, while Rs. 250 crore will be granted to government colleges.

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Upgrading of Hospitals

Hospitals like the Mandya Medical Sciences Institute Hospital will be given Rs. 30 Crore to upgrade to 800 beds.

Rs. 12 Crore will be granted to Kidwai Cancer Hospital for a new unit for a bone marrow transplant.

New super speciality hospitals will be opened at Belagavi, Kalaburgi and Mysuru cities for various health issues.

Incentives for Tourism based Businesses

Karnataka government will help financially plans of 500 plus room hotels and service apartment construction.

Highways will also have food courts for tourists to munch on something while travelling.

Developing Skills

A scheme called Kayaka will help individuals get loans for learning skills for their professional careers.

A scheme called ‘Compete with China’ says it all, and will help people become more efficient to compete with the Chinese economic development.

Mothers to Be given Allowance

Giving birth and lactating times is not very easy. So there will be an allowance of Rs. 6,000 as of now for lactating and pregnant mothers.

Improving the increase of Pollution

Rs. 50 Crores is set aside to make the famous Bellandur lake clean again. 42 air quality monitoring stations will be put up to ensure clean air. A total budget of Rs. 96 Crore is put aside for this initiative.

Mandya City to be Developed

Mandya city in Karnataka known for its sugar factories will be helped to develop further with an additional Rs. 50 crore set aside for it.

Development of  Tribes

Various backward and deprived castes and communities will be given Rs. 10 crore. These communities that will be helped include Shillekyatha, Dombidasa, Gowli, Heluva, Shikaries, Hoovadiga, Kanchugara, Darji, Kammara, Thigala, Budubudike, Badige, Hatgara, Kareokkaliga.

A notion of gratitude to the Indian guru and philosopher, Adi Shankara, his birthday Adi Shankara Jayanti will be celebrated officially.

Improvement in Metro

Additional metro rail network has been proposed.