Karnataka Budget: Loan Waiver Scheme for Farmers

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Karnataka Budget

Karnataka Budget: Karnataka Chief Minister HD Kumaraswamy has announced to allocate Rs 34,000 crore for farmers’ debt waiver during the budget. He has announced to waive the debt of farmers up to two lakh rupees. However, Kumaraswamy has decided to increase the tax on petrol and diesel. Petrol price has been increased by 1.14 per liter, diesel 1.12 per liter and electricity rates by 20 paise.

Kumaraswamy, while announcing the budget of Rs. 2,13,734 crore, said that he would continue all schemes of Siddaramaiah Government. The focus is on the service and agriculture sector.

HD Kumaraswamy Karnataka Budget

There are incentives for farmers who repaid loans in time. “I have decided to credit the repaid loan amount or Rs. 25,000, whichever is less, to each farmer’s account,” Mr Kumaraswamy said in his budget speech.

Petrol and diesel become expensive
This is the first budget of the Congress-JDS coalition government. The Kumaraswamy government has increased the tax on petrol from 30 percent to 32 percent and diesel from 19 percent to 21 percent. This will increase the cost of petrol to 1.14 per liter and diesel 1.12 per liter. It will directly affect the general public, which is already under heavy burden of oil prices.

HD Kumaraswamy

Also read: After ‘Triple Talaq’, government trying to ban ‘Halala’

Kumaraswamy completed his Promise

JDS promised to forgive the debt of farmers in the election manifesto of the JDS. The Chief Minister had promised that he would forgive the farmers loan of Rs 53 thousand crore within 24 hours of handing over the office. But citing lack of full majority, Kumaraswamy assured that he would forgive the debt in a phased manner in the state. Congress President Rahul Gandhi also raised the issue of debt waiver.

Rahul Gandhi tweeted before budget:

Prior to the budget presentation, Rahul Gandhi tweeted that he hoped that the loan forgiveness of farmers could be announced in the budget. He tweeted, “On the eve of the Karnataka Budget, I’m Confident our Congress-JDS coalition Govt will act on our Commitment to waive farmer loans & to make farming more profitable. This budget is an opportunity for our Govt. to make Karnataka a beacon of hope for farmers all across India.”

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