Karnataka Budget 2023 Latest Update: Beer and whisky are all set to get costlier in Karnataka as the state government on Friday proposed to hike additional excise duty. During the Karnataka Budget 2023 presentation, Chief Minister Siddaramaiah, who holds the Finance portfolio, proposed to increase the existing rates of the duty on Indian Made Foreign Liquor (IMFL) by 20 per cent on all 18 slabs. The chief minister also proposed to increase the duty on beer from 175 per cent to 185 per cent.
“Even after the increase in excise rates, the price of liquor in our state would be lower when compared to the neighbouring states,” Chief Minister Siddaramaiah said in the budget speech.
He stated that with these hikes and effective enforcement and regulatory measures, the revenue collection target for the Excise Department for the year 2023-24 is fixed at Rs 36,000 crore.
Chief Minister Siddaramiah presented the 14th state budget and said the state government is expecting a total expenditure of Rs 2,50,933 crores, a capital expenditure of Rs 54,374 crore and loan repayment of Rs 22,441 crores is expected.
Apart from this, the Karnataka government also allocated 11% of budget for education and said Rs 37,587 crore will be spent for the education sector. The state government also allocated Rs 24,166 or for Women and Child Development.
The chief minister also announced life and accident insurance of Rs 4 Lakh to e-commerce delivery employees working with Swiggy, Zomato, Amazon etc. This includes Rs 2 lakh life insurance and Rs 2 lakh accident insurance and covers both full-time and part-time delivery persons.
The chief minister noted that to provide social security to the ‘Gig Workers’ in the unorganised sector– employed as full time/part time delivery personnel in e-commerce companies like Swiggy, Zomato, Amazon, etc., insurance facility of total of RS.4 lakh will be provided which includes, life insurance of Rs. 2 lakh and accidental insurance of Rs 2 lakh.
To manage the traffic issue in Bengaluru, Karnataka CM Siddaramiah also allocated Rs 30,000 crore for the development of BMRCL’s Namma Metro project and announced Rs 8,409 crore for the comprehensive development of Bengaluru city.
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