Karnataka budget 2022-23 live: CM Bommai hinted GST exemption

Karnataka budget 2022-23: The budget session of Karnataka legislature will begin today, with Chief Minister Basavaraj Bommai, who also holds the Finance portfolio, presenting his maiden budget on the first day at 12.30pm. Karnataka budget 2022-23 live: CM Bommai hinted GST exemption.

Though economic distress during the last two years due to COVID-19 pandemic seems to have left little room for fiscal manoeuvring, the revenue collection has been improving in recent times, giving some leeway for the Chief Minister to go for some big-ticket announcements.

Karnataka CM Bommai on Monday hinted that his government was ready to offer GST and royalty exemption on cement, steel and other construction material if the Union government bears 25 per cent of the land acquisition cost for the projects.

He was speaking during the foundation laying ceremony for 925 kilometres of national highway projects worth Rs 12,795 crore. Union Minister for Surface Transport and National Highways Nitin Gadkari was present on the occasion and laid the foundation stone for the projects.

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The Bruhat Bengaluru Mahanagara Palike (BBMP) is expecting some big allocations in the Karnataka Budget, as it faces severe infrastructure lapses and other civic challenges.