Karnataka Budget: Increases Farmer Loans for a Farmer-Friendly Scheme
In preparation for the upcoming assembly elections, the Chief Minister of Karnataka, Basavaraj Bommai, has announced an increase in the interest-free short-term loan limit given to farmers from Rs 3 lakh to Rs 5 lakh for the next financial year. The aim of this increase is to provide farmers with a hassle-free and need-based loan facility to make necessary preparations for farm-related activities. In addition, the government has introduced a new scheme called ‘Bhoo Siri’, which will offer an additional subsidy of Rs 10,000 to ‘Kisan Credit Card’ holders, enabling them to purchase essential farm inputs in times of emergency. This scheme will benefit approximately 50 lakh farmers in the state.
Furthermore, the Chief Minister has announced the ‘Shrama Shakthi’ scheme, which will provide financial assistance of Rs 500 per month to landless women farm labourers through direct benefit transfer. The ‘CM Vidya Shakti Scheme’ has also been introduced to enable high school graduates to continue their higher education by providing free education in government pre-university and degree colleges. This scheme will benefit around eight lakh students in the state.Bommai has stated that the budget is a revenue-surplus budget as revenue receipts are estimated to be more than revenue expenditure by Rs 402 crore, marking a significant milestone since the post-COVID pandemic period.
