AMN
Karnataka Chief Minister Basavaraj Bommai who also holds the Finance portfolio presented the 2023-24 state budget in the Legislative Assembly today. This is the Chief Minister’s second budget and the BJP Government’s last budget in the current term.
It is a revenue surplus budget with a size of 3.09 lakh crore comprising gross borrowings at 77,750 crore rupees. According to the budget proposals, the limit of interest-free short-term loans to farmers has been increased from three lakh to five lakh rupees. Under the Yuvasnehi scheme, one-time financial assistance of 2000 rupees will be provided to unemployed degree holders. Under Shram Shakthi scheme 500 rupees will be provided per month to each of the landless woman farm labourers. Free education was announced for eight lakh students pursuing education in Government Pre-University and degree colleges. Zero-interest loans of upto 20 lakh per person for minority students undertaking UG or PG courses in foreign universities was announced.
The gross allocation to the education sector has increased from 31,980 crore rupees to 37,960 crore rupees. He also announced a professional tax exemption limit from 15,000 to 25000 rupees per month. GST, Excise tax arrears and penalties will be waived if they are paid before June 30 under Kara samadhana scheme. During the budget presentation, the Congress party members wore flowers on their ears conveying the message that the Government has cheated the people by not fulfilling the promises made in the previous budget.