Chief minister B S Yediyurappa today presented a tax free budget while laying emphasis on women’s welfare and development. He highlighted government’s plans to update aerospace and defence policies apart from formulating strategies relating to cyber security and data centre.

In 2013 the state government had announced its aerospace policy. Today it accounts for over 65 per cent of the exports from the aerospace and defence sectors. To give a further boost to these sectors, Karnataka is now all set to upgrade the existing policies. Likewise, the policy on cyber security would focus on adopting necessary protection measures.

Presenting his eighth budget today, the CM said it was prepared under the most trying times with the economic activities taking a big hit following natural calamities and Covid-19. The pandemic and the accompanying lockdown, in turn, had hit revenue collection badly. Yet “it is a people’s budget” and “there is neither any increase in tax rates nor any new tax proposals,” he said.

The finance minister said he sought to ensure all the committed expenditure, including salary, pension and loan repayment “has been provided for,” apart from that on development works.

Efforts had been made to maintain a balance by giving importance to all classes, sectors and districts,with emphasis on women’s welfare, in line with the “International Women’s Day.” It encouraged self-reliance, protection and entrepreneurship through different programmes, including loan facility at 4 per cent concessional rate up to Rs 2 crore for women entrepreneurs in the service sector.

The total budget size is placed at Rs 2,46,207 crore.

Punjab proposes farm loan waiver:

Ahead of early 2022 Assembly polls, Punjab finance minister Manpreet Singh Badal proposed a farm loan waiver worth Rs 1,722 crore for farmers and landless farm workers in the state budget for 2021-22 fiscal year, adds PTI.

The state government resolves to continue to provide free power to farmers. An amount of Rs 7,180 crore has been provisioned in 2021-22 in this regard.

Another announcement was the free travel for all women passengers and students in state government buses. CM Captain Amarinder Singh described the budget as pro-farmer and pro-poor.

Maha concession in stamp duty

The Maharashtra government’s budget for 2021-22, presented on International Women’s Day, offered one per cent concession in stamp duty if property is transferred exclusively in women’s name.

Deputy CM and finance minister Ajit Pawar on Monday presented a budget with revenue deficit of Rs 10,226 crore in the Assembly. The size of the annual plan is proposed at Rs 1,30,000 crore, he said.