Karnataka Budget 2012: Govt accepts pay commission
Bangalore: Karnataka government today
presented the Budget that exceeded Rs 1 lakh crore in value
for the first time and announced the acceptance of pay
commission recommendations bringing cheer to employees.
It also proposed to levy value added tax (VAT) at five
per cent on beedies and plastic woven fabrics and increase VAT
on cigarettes and other tobacco products from 15 per cent to
17 per cent.
Besides, the government has proposed to reduce the stamp
duty from six per cent to five per cent on conveyance/sale
deeds which, the government said, would facilitate the
registering public and would also trigger development in the
"...this budget facilitates a total expenditure of Rs
1,02,742 crore on various development activities and
regulatory functions of the Government, which is an increase
of 20.42 per cent over the Budget of Rs 85,319 crore in
2011-12", Chief Minister D V Sadananda Gowda said in the
"This is the first time the Budget size has exceeded Rs 1
lakh crore", he pointed out. Revenue surplus is estimated to
be Rs 931 crore. Fiscal deficit is expected to be Rs 15,312
crore, which is 2.94 per cent of the GSDP.
Recommendations of the official pay committee for
government employees would be given effect from April 1, Gowda
said, adding that the existing dearness allowances and
installment due as on January 1 this year would be merged in
the basic pay and pension along with 22.5 per cent increase.
"The total additional outgo on account of the pay and
pension revision is estimated to be Rs 4,450 crore on a full
year basis", said Gowda, who also holds the Finance portfolio,
as he the sought approval for vote on account for the
expenditure during the period up to July 31 this year.
More from India
More from World
More from Sports
More from Entertaiment
- Over 60 cadets killed in Pakistan police academy attack
- DNA: Exclusive report on the extreme sacrifices made by ITBP soldiers
- Watch: PM Narendra Modi's ''progressive'' remark on triple talaq
- DNA: Terrorists' new strategy of snatching weapons from Indian security personnel
- Panel discussion over delayed development in Ayodhya
- Explosion in Delhi's Naya Bazar, one killed; anti-terror wing, Special cell at spot
- This is why Cyrus Mistry was removed as Chairman of Tata Sons!
- WATCH: Akhilesh Yadav's emotional speech revealing the real reason behind Samajwadi Party crisis; he was about to cry
- Read letters by Ratan Tata to PM Narendra Modi and Group employees after Cyrus Mistry's ouster
- Prompt action on border pushes Pak to offer olive branch, says both sides need to 'formalise' 2003 ceasefire