Bengaluru : The Karnataka government today announced a partial farm loan waiver of Rs 34,000 crore + which will benefit those farmers whose borrowings are less than Rs 2 lakhs.

The total dedicated Size of the Budget: Rs 2,13,734 crore. There is no reservations kept to the coastal district in this budget.

Further, chief minister HD Kumaraswamy said the waiver would apply to those farmers who have defaulted in loan paybacks up until December 31, 2017. However, families of government officials and officials of the co-operative sector, farmers who have paid income tax for the past three years and other ineligible farm loan recipients are outside the purview of the loan waiver, announced the CM. And, to reward those who didn’t default, the CM has “decided to credit the repaid loan amount or Rs 25000 (or) whichever is less”.

Amid expectations of farm loan waiver, Kumaraswamy to present budget on Thursday

Karnataka CM HD Kumaraswamy will present the Congress-JD(S) coalition government’s maiden budget on Thursday, amid high expectations of farm loan waiver. Kumaraswamy-led JD(S) had promised to waive farm loans borrowed both from cooperative and nationalised banks within 24 hours of coming to power.

These announcements were made in today’s first budget presentation by the JD(S)-Congress coalition government + . The CM also announced new measures to make new loans available to farmers.

“To facilitate the farmers to avail new loans, action will be taken by the government to issue clearance certificate by waiving the arrears form the defaulting account. For this purpose, Rs 6,500 crore is earmarked in 2018-19 budget,” said Kumaraswamy.

Kumaraswamy seeks Centre’s support to farm loan waiver

Karnataka CM H D Kumaraswamy on Sunday requested the Central government for 50 per cent support to his government’s farm loan waiver scheme. “Debt of farmers is staring us in the face. My government is ready to address this problem and I request the Government of India to support us,” he said.

These announcements were much anticipated. In the run-up to the recent assembly polls, the Kumaraswamy-led JD(S) had promised to waive farm loans borrowed both from cooperative and nationalised banks within 24 hours of coming to power.

The CM, who also holds the finance portfolio, had earlier cited coalition compulsions and the need for studying the financial condition of the state as the reason for the delay in the announcement of loan waiver. Financial experts and some government officials have already expressed concern over the impact loan waiver may have on the state’s finances. Shocking: Doctor lost upto 30 kgs with this easy trick!!NutraLyfe

Get credits when you stay- Rs.1000 for every night you stay!Caravela Beach Resort Goa

Another major budget announcement today an increase in the rate of tax on petrol to 32% from 30% and on diesel to 21% from 19%. That means, petrol price will be increased by Rs.1.14/liter and diesel by Rs 1.12/liter.

In other budget announcements, the CM said 35 electrical sub centres will be established through Karnataka transmission corporation to enhance transmission system. As many as 75 sub centres will be upgraded. A chemical effluent treatment plant will be built in the Peenya industrial area for which RS 10 crore has been allocated. IN addition, 42 continuous ambient air quality monitoring stations are set to come up with Rs 96 crore investment for them under the district mineral fund. Top Comment

Also announced was a special package of Rs 150 crore for repairs of government primary, high school and pre-university colleges’ buildings.

Highlights : 

12:51 – Education: Rs 150 cr special package to repair govt primary, high-school and PU college buildings
12:46- Kayaka scheme: Loan of up to Rs 10 lakh to enhance skill development and entrepreneurship skills in SHGs on cluster model or individually Rs 190 crore for a scheme to safeguard interests of coconut growers
12:43- Israel model of irrigation to be adopted across 5000 hectares each in Karwar, Tumakuru, Yadgir and Haveri districts at a cost of Rs 150 crore
12:22-Annabhagya scheme: Quantity of rice cut from 7 kg to 5 kg
12:20-Education: Rs 26581 cr; Water resources: Rs 18142 cr; Urban development: Rs 17727 cr; Energy: Rs 14499 cr; Social Welfare: Rs 14123 cr; PWD: Rs 10200 cr
12:13-Rs 15825 crore for six elevated corridors across Bengaluru
12:11-HDK allots Rs 25 cr for various Mutts across the state
12:07-Rs 30 cr for film university in Ramanagara
12:05-‘I have decided to limit the loan amount to Rs 2 lakhs’- HDK
11:55-Rs 50 crore alloted for rejuvenation of Bellandur lake in Bengaluru
11:54-Loan of up to Rs 2 lakh per farmer family waived
11:53-Rs 34,000 crore for farm loan waiver
11:48-Power tariff up 20 paise per unit
11:47-Petrol fare hiked by Rs 1.14, diesel Rs 1.12
11:46-Tax on liquor up 4%
11:43-HDK vows to continue Siddaramaiah’s ‘bhagya’ schemes
11:39- Rs 150 crore for agriculture development based on Israel model
11:37- Size of the Budget: Rs 2,13,734 crore