Live
- 35 miners trapped under rubble in Afghanistan
- Lavanya Tripathi's Birthday Gift: Title Announcement of Her New Film ‘Sathi Leelavathi’
- Kerala Hindu leader gifts Rig Veda to Pope Francis
- OakTree School Celebrates Eight Years of Success, Announces Future Expansion
- Why plant-based milks may not be healthy
- Jharkhand: Ayushman Bharat cards in demand, Sahebganj residents rush to the centre
- Supreme Court likely to pass directions on implementation of policy to curb air pollution in Delhi-NCR tomorrow
- The first day of Group-2 Paper 1, 2 exams in Wanaparthy district ended peacefully, said Additional Collector Revenue G. Venkateswarlu
- VP Dhankhar urges corporates to invest in education
- Punjab DGP, MHA official request farmer leader Dallewal to end 20-day fast
Karnataka budget taxes rich, middle class but spares poor
The Karnataka budget for 2016-17 hikes tax on petrol, diesel, beer, liquor and soft drinks, but spares the poor with exemption in cess on foodgrains and pulses.
Bengaluru: The Karnataka budget for 2016-17 hikes tax on petrol, diesel, beer, liquor and soft drinks, but spares the poor with exemption in cess on foodgrains and pulses.
There would also be lower value added tax (VAT) on cotton, chatnipudi (curry powders), utensils, LED (light-emitting diode) bulbs and helmets, said Chief Minister Siddaramaiah, presenting the budget in the assembly on Friday.
Petrol price would go up by Rs.1.89 per litre from April 1, with increase in tax from 26 percent to 30 percent, he told the assembly, presenting the budget.
"Similarly, diesel price will be up 89 paise per litre with increase in tax to 19 percent from 16.65 percent," Siddaramaiah, who holds the finance portfolio, said in his over two-hour long budget speech in Kannada.
Justifying the increase on fuel taxes, the chief minister said though the central government had increased excise duty thrice on petrol and diesel during the current fiscal (2015-16) despite steady fall in crude oil prices in the international market, the state government did not raise its tax on them.
Doubling excise duty o
