Karnataka Budget 2023 Live: bad news for drinkers, beer price increase

Karnataka Budget 2023 Live: CM Siddaramaiah began his 14th budget presentation by quoting reknowned poet Kuvempu, celebrated playwright Girish Karnad, B R Ambedkar and other notable literary figures. Karnataka Budget 2023 Live: bad news for drinkers, beer price increase.

CM Siddaramaiah said the total expenditure is estimated to be Rs 3,27,747 crores which includes revenue expenditure at Rs 2,50,933 crores, capital expenditure at Rs 54,374 crores and loan repayment at Rs 22,441 crores.

Zero interest loan limit for farmers has been increased from 3 lakhs to 5 lakhs. In addition, the medium-term and long-term loan limit has been increased from 10 lakh to 15 lakh, and farmers in hilly areas will be given a loan of up to 7 lakh for the purchase of a pick van.

Meanwhile, in this time’s budget, the excise duty has been increased by 20 percent, by which the excise duty on beer has been increased by 10 percent.

The Karnataka CM had earlier said the size of the state’s budget is likely to be Rs 3,35,000 crore, which is bigger than the previous budget’s size by Rs 25,000 crore. The size of the budget tabled by the earlier BJP regime was Rs 3.08 lakh crore.

The Congress government has increased the budget size to accommodate additional expenses for the implementation of their poll promises, Siddaramaiah had said. The government will need around Rs 59,000 crore to Rs 60,000 crore annually to implement the poll promises without hindrances, according to the CM.

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