Like in the previous budget, HD Kumaraswamy has once again promised to fulfil the Rs 46,000 crore farm loan waiver in the second budget as well.
Amid speculation that the BJP in Karnataka is planning to topple the coalition government, Chief Minister HD Kumaraswamy will table the second budget of the JD(S)-Congress coalition government for 2019-20 fiscal on Friday. As in the previous budget, Kumaraswamy has once again promised to fulfil the Rs 46,000 crore farm loan waiver in this budget, too. The current budget is expected to dole out sops to the farmers, just like the interim Budget presented by the Union government. In January, the Chief Minister had held a pre-budget meeting with representatives of various farmers’ organisations. The farmers demanded that the coalition government drop the numerous conditions for the loan waiver scheme and also sought higher compensation for crop damage due to floods and drought. "Without violating Fiscal Responsibility Act, I am clearing it completely with allocation for it. In the next financial year, the money that will be released will clear the Rs 46,000 crore loan waiver commitment made," Kumaraswamy had told the media last week. The farm loan waiver scheme is expected to be implemented in one stroke with adequate budgetary allocation, instead of completing the process in four stages as was planned earlier. In the 2018-19 budget, the government had hiked petrol and diesel prices and also the excise duty. The excise duty is expected to increase in this budget, too. The Budget is also expected to address the issue of several incomplete infrastructure projects in Bengaluru and also the government's programmes to set up industrial zones in two-tier cities to create employment. Last week, Kumaraswamy had met with a Japanese delegation, which has agreed to set up a Japanese Industrial Zone in Tumakuru.
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