Karnataka CM presents a zero-rated budget

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Chief Minister BS Yediyurappa today presented a tax-free budget while emphasizing the well-being and development of women. He highlighted the government’s plans to update aerospace and defense policies aside from formulating cybersecurity and data center strategies.

In 2013, the state government announced its aerospace policy. Today, it represents more than 65% of exports from the aerospace and defense sectors. To give new impetus to these sectors, Karnataka is now ready to upgrade existing policies. Likewise, cybersecurity policy would focus on adopting the necessary protective measures.

Presenting its eighth budget today, the CM said it had been prepared in the most difficult times, with economic activities being hit hard by natural disasters and Covid-19. The pandemic and the accompanying lockdown, in turn, have hit revenue collection hard. Yet “this is a people’s budget” and “there are no increases in tax rates or any new tax proposals,” he said.

The finance minister said he was seeking to ensure that all expenses incurred, including salaries, pensions and loan repayments, “have been planned” except for development work.

Efforts have been made to maintain a balance by giving importance to all classes, sectors and neighborhoods, with an emphasis on the well-being of women, in accordance with “International Women’s Day”. It has promoted self-reliance, protection and entrepreneurship through various programs, including a loan facility at a concessional rate of 4 percent up to 2 crore rupees for women entrepreneurs in the sector. services.

The total size of the budget is placed at Rs 2,46,207 crore.

The Punjab offers an agricultural loan exemption:

Ahead of the first 2022 Assembly polls, Punjab’s Finance Minister Manpreet Singh Badal proposed an agricultural loan waiver worth Rs 1,722 crore for landless farmers and farm workers in the state budget for fiscal year 2021-22, adds PTI.

The state government decides to continue providing free electricity to farmers. An amount of Rs 7,180 crore has been provisioned in 2021-22 in this regard.

Another announcement was free travel for all female passengers and students on state government buses. CM captain Amarinder Singh described the budget as being farmer-friendly and pro-poor.

Maha stamp duty concession

Maharashtra’s government budget for 2021-2022, presented on International Women’s Day, offered a 1% reduction in stamp duty if ownership is transferred exclusively to women.

Deputy CM and Minister of Finance Ajit Pawar presented the Assembly on Monday with a budget with a revenue shortfall of Rs 10,226 crore. The size of the annual plan is offered at Rs 1,30,000 crore, he said.

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