Karnataka Budget: No rise in taxes on Petrol and Diesel
India
Updated: Monday, March 8, 2021, 13:33 [IST]
Bengaluru, Mar 08: Karnataka Chief Minister B S Yediyurappa presented the state budget for the fiscal year 2021-22, one of his toughest, in the post-pandemic era. This was Yediyurappa s eighth budget and third during his present term as chief minister since July 2019.
Leader of Opposition Siddaramaih along with Congress MLA s boycotted the budget after a few minutes of protest.
The Chief Minister, who holds the finance portfolio, spared citizens by not announcing any new taxation in the budget.
In the budget 2021-22 Budget, no taxes including Karnataka State Tax on Petrol and Diesel has been increased, in a bid to relieve burden on the people who are already facing hardship due to increase in fuel prices.
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Budget 2021 may unveil mega textile park scheme
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Synopsis The upcoming budget could unveil a scheme for setting up of mega textile parks aimed at positioning India as a fully integrated, globally competitive manufacturing and exporting hub.
The parks are targeted to have uninterrupted water and power supply, common utilities and research and development labs.
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New Delhi: The upcoming budget could unveil a scheme for setting up of mega textile parks aimed at positioning India as a fully integrated, globally competitive manufacturing and exporting hub.
The finance and textiles ministries are in discussion over the scheme that will offer incentives to investors that set up facilities in these parks as also the developers. “We have recommended these to the finance ministry and, if accepted, they could benefit India’s textiles sector,” said an official.
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This year, the forum was poised to address the ‘challenges of the new decade,’ with the panels featuring government officials, heads of Russian and foreign companies, and lead experts who reviewed the key challenges for exporters.