Balanced and far-sighted Budget

Let me at the outset congratulate Chief Minister B S Yediyurappa for presenting a prudent, pragmatic, growth-oriented budget 2021-22, with no additional taxes levied.

This budget will undoubtedly put the state’s economy which was ravaged by the pandemic back on a new growth trajectory.

The proposals announced by the CM for various sectors, especially agriculture, industry with a special focus on MSMEs and women entrepreneurs will propel the growth in a holistic pattern with multiplier effect and make Karnataka a leader on all fronts and attract investment from all quarters.

Yediyurappa has presented a very balanced and a farsighted, visionary budget aimed at pushing economic growth, with social inclusion, with a focus on job creation, loans at affordable interest rates for startups, women entrepreneurs, while providing succour to shattered lives and to all the citizens of Karnataka, without levying a single rupee additional tax/cess.

The CM has announced a bumper gift to women in the budget, presented on International Women’s Day.

The allotment of Rs 37,188 crore for women-centric schemes shows the commitment of this government towards women’s empowerment and recognising their role in the economic growth journey of Karnataka.

Yediyurappa has always given priority to agriculture and the welfare of farmers. He is the first person who presented a separate agriculture budget for farmers. He has proposed to implement a scheme at a cost of Rs 500 crore to encourage organic farming.

The e-market facility for farmers to sell organic and millets produce, subsidy for small tractors, new hybrid seed policy, new agro product export zone to sell aromatic, medicinal plants, spices, fruits and vegetables and facility at airports to export horticulture produce will greatly help our farmers in price discovery and fetch them the best rates simultaneously, coming out from the clutches of the agents.

The CM has also given priority to expedite irrigation projects - Upper Krishna, Yettinahole, Mekedatu, Mahadayi and Upper Bhadra projects. A whopping outlay of Rs 31,028 crore for agriculture and allied activities will set the ball rolling for the sector on a fast-track basis.

He has earmarked funds for the welfare of various communities, including Veerashaiva-Lingayats, Vokkaligas, Brahmins, Dalits and OBCs for their all-round development.

By allocating Rs 1,500 crore for the welfare of religious minorities, Yediyurappa who follows Basavanna’s principle of “equal opportunities and status to all communities” has shown BJP government’s commitment to ensure social justice.

The CM has announced a slew of projects to boost infrastructure projects and attract investments. Despite the economic slump caused by the pandemic, Karnataka and particularly Bengaluru continued to attract investments. The state maintained its position as a leader in industrial growth.

The proposed 58.2-km outer ring road project waiting for the Centre’s nod, increasing Namma Metro networks including link to the airport, would boost connectivity, reduce traffic congestions/bottlenecks significantly, thereby saving man-hours and enhancing productivity.

Yediyurappa has given a big relief to the people by not increasing Karnataka Sales Tax (KST) on petrol and diesel which have become dearer, owing to global oil market trends.

Another huge relief for the people is the reduction of stamp duty from 5% to 3% for the registration of apartments valued between Rs 35 lakh and Rs 45 lakh. This will help promote affordable housing and boost the real estate sector.

Overall it’s a growth-oriented, balanced, pragmatic, futuristic budget, which will propel the sagging economy, create more opportunities for the people and bring about holistic development of Karnataka, including social and economic.

(The writer is a Cabinet minister and an industrialist)