Chief minister hints at Rs 1 lakh crore budget for 2012-13
Karnataka chief minister B S Yeddyurappa today said the state government has achieved all the financial targets for 2010-11. The total plan achievement, including internal and extra budgetary resource (IEBR) during 2010-11 was 18 per cent higher at Rs 31,750 crore, he said.
The government has collected additional revenues of Rs 3,700 crore which has helped achieve a higher capital expenditure. “The fiscal deficit of 3.25 per cent is well within the stipulated limit of government of India and the 13th Finance Commission recommendations,” he said.
Releasing a booklet on the achievements of BJP government over the last three years in the state, Yeddyurappa said the financial strength achieved over the last three years would act as a strong foundation for the next decade. The government is poised to present a Rs 1 lakh crore budget for 2012-13 going by the resource mobilisation in the first two months of the present financial year.
“Both the Reserve Bank of India and the Planning Commission have appreciated the performance of the state as far as financial management is concerned. In this area, the state stands on top in the country,” he said.
Giving details of the financial performance for the last fiscal with figures, Yeddyurappa said the revenue income of the state has recorded a growth of 19 per cent at Rs 58,541 crore during 2010-11 compared to the previous year. The commercial taxes collection went up 26.7 per cent to Rs 22,767 crore during fiscal 2010-11 as against Rs 17,960 crore mobilised in the previous year. This is higher than the 26 per cent growth of Maharashtra, 25 per cent of Tamil Nadu and 23 per cent of Andhra Pradesh.
Excise revenues grew 19 per cent to touch Rs 8,268 crore in 2010-11 compared to the previous year. Motor vehicle tax saw a growth of 37 per cent at Rs 2,688 crore as against Rs 1,962 crore in the previous year. The stamps and registration fee collection went up by 36 per cent in the year 2010-11. As against Rs 2,628 crore collected in 2009-10, the collection in 2010-11 was Rs 3,568 crore.
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During fiscal 2010-11, the foodgrain production of the state touched a record 13 million tonnes. In an effort to further increase the food production, the government has extended farm loans at the lowest rate of interest at 1 per cent to farmers.
The state government would deposit Rs 10,000 in the bank accounts of 1 million small and marginal farmers by June 15 as part of the ‘Suvarna Bhoomi’ scheme announced in the budget. The total funds set apart for agriculture in the separate budget stands at Rs 17,000 crore, Yeddyurappa added.