Thursday, February 24, 2011

CM Yeddyurappa to Present State Budget Today

Bangalore, Feb 24 (DHNS) :

Chief Minister B S Yeddyurappa will present the State budget for the 2011-12 fiscal at 12 noon on Thursday, in the backdrop of an economic survey projecting a robust 8.2 per cent growth for Karnataka this year.

For the first time, Yeddyurappa will be present a separate budget for agriculture.

Opposition parties have described the separate budget as a gimmick by Yeddyurappa to not only project himself as a pro-farmer chief minister but also to regain his popularity that has been eroded following a series of corruption charges against him and his government.

It will be Yeddyurappa's sixth consecutive budget and the fourth one after his party came to power on its own in 2008.

With the State economy back on a high-growth trajectory, Yeddyurappa, who also holds the finance portfolio, is likely to explore all possibilities, including revisiting tax rates on certain items, to mobilise more resources to without burdening the common man.

Higher growth

The primary sector (agriculture and allied activities) and tertiary sectors are expected to clock higher growth with 5.7 per cent and 9.7 per cent respectively.

Last year, the growth in these sections was 3.3 per cent and 3.7 per cent respectively. The production of foodgrains is expected to increase from 110 lakh tonnes in 2009-10 to 125 lakh tonnes this year. However, the growth rate of the State economy is below the national target of 8.6 per

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