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Aishwarya Krishnan
The adventures she enjoys are usually of the literary nature. An MBA (Finance) passout, writing has been a passion for this Potterhead! ... Read More
The Karnataka State Budget 2017-18 has been announced and has a few key changes and measures to improve the state’s economy. There have been various changes proposed in the Karnataka Budget which will come as a relief to all wine lovers and movie enthusiasts. Karnataka Chief Minister Siddaramaiah announced in the State Budget today (March 15) which has proposed various changes. The most impressive move according to the younger generation is Karnataka’s decision of removing VAT applied on liquor including beer, fenny, liqueur and wine from April 1, 2017, and reducing the price of cinema tickets has left many young people rejoiced. Here is a list of five key main changes made by the state government in their Budget speech.
The Karnataka government has proposed to increase the retirement age in private sector from 58 to 60. While most government sectors have a higher age of retirement, this change will move the private sector to a similar line. This move will only be beneficial to those who have aimed at sticking with one single organisation for a long period. As we are currently in the era of change where the attrition rate is extremely high, this change is not seen as a drastic move.
Karnataka government has announced to remove the VAT on liquor from April 1, 2017. This step will help in making liquor products like beer fenny and wine cheaper. The administrative fee of Rs 2 per litre on export and Re 1 per litre on spirit is proposed to be withdrawn.
The Government of Karnataka under the guidance of CM Siddaramaiah has proposed to cap the price of movie tickets. The government has proposed to allow movie halls including multiplexes to have a maximum ticket price of Rs 200. This will come as a relief for many fans as movie tickets cost as much as Rs 500 on weekends and for popular movies.
This piece of news comes as a negative for luxury bike lovers as the cost of these bikes will rise higher with the increase in the motor vehicle tax. The tax will be increased from 12% to 18% and will apply to all motorbikes above the Rs 1 lakh range.
According to the Karnataka Budget proposed, Bangalore city will have an additional 3000 buses running the streets during the financial year of 2017-18. This move is an effort to promote the use of public transport and reduce the congestion. In addition to this, the two-stroke auto rikshaws have been banned starting April 1, 2017, in an effort to control the air pollution.
Apart from these key points, the chief minister also introduced various plans for making Karnataka a better state. Karnataka Chief Minister Siddaramaiah allocated Rs 100 crore for the setting up of Namma Canteens in Bengaluru which will provide breakfast for Rs 5, Lunch and Dinner at Rs 10. The city will also have 150 electric buses to boost the use of public transport.
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