The Karnataka Budget for fiscal 2021-22 reduced stamp duty on buying apartments priced Rs 35-45 lakh to 3 per cent from 5 per cent, said Chief Minister B.S. Yediyurappa on Monday.
“To promote affordable housing, the stamp duty for registering apartments valued Rs 35-45 lakh is proposed to be reduced to 3 per cent from 5 per cent,” said Yediyurappa while presenting the state Budget for the ensuing fiscal.
The Budget has set Rs 12,655-crore target for the coming fiscal (2021-22) from the state stamps and registrations department.
“The department has collected Rs 9,014-crore from stamps and registrations till February from across the state as against the annual target of Rs 12,655 crore for this fiscal (2020-21),” said Yediyurappa.
Karnataka government in its Budget on Monday said the revenue deficit of the state is estimated to be Rs 15,134 crores during Financial Year 2021-22.
“The revenue deficit is estimated to be Rs 15,134 crores. The fiscal deficit is expected to be Rs 59,240 crores, which is 3.48 per cent of GSDP (Gross State Domestic Product). The total liabilities at the end of 2021-22 is estimated to be Rs 4,57,899 crore, which is 26.9 per cent of the GSDP. The suitable amendment will be brought to the Karnataka Fiscal Responsibility Act 2002 in this regard,” CM said in the Assembly.
Yediyurappa, who also holds the finance portfolio, announced to construct Yathri Nivasa in Ayodhya in Uttar Pradesh for devotees from Karnataka visiting the temple town. He allocated Rs 10 crores in 2021-22 Budget and said the UP government will provide five-acre of land for it.
Reading out Budget for 2021-22, Karnataka CM also announced to establish goshala in every district of the state to prevent ‘slaughter of cows and to conserve livestock’.
Meanwhile, Congress leaders led by CLP leader Siddaramiah boycotted the Budget session in light of the alleged cases against Chief Minister and Ramesh Jarkiholi.
Siddaramiah also said six MLAs who were earlier with the Congress and JD(S) have got interim injunction, which is unconstitutional.
“People’s money should not be given to this government so we will protest in the session and stage a walkout. We will wear a black band and we will protest in the Assembly and council,” he added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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