Yeddiyurappa presents surplus budget for 2011-12

Bangalore - 24 Feb 2011: Karnataka Chief Minister B S Yeddyurappa today presented a surplus budget for 2011-12 in the Assembly providing certain tax relief and enhancements to raise additional resources to the tune of Rs1,020 crore.

Presenting a separate document on agriculture for the first time in the annals of Indian legislature, the Chief Minister, who heads the only BJP government in South India, declared that the state would end up with a surplus of Rs 294.78 crore.

The revenue surplus was Rs 1,278.94 crore and capital account deficit Rs 984.16 crore for the year.
The state expected to close the year with a surplus balance of Rs 383.25 crore, he said.

Mr Yeddyurappa, who had earlier stated that the total Budget estimates of the state would cross Rs 100,000 crore in 2012-13, however, said the total receipts next fiscal would be Rs 83,729 crore with the total expenditure being Rs 85,319 crore.

The state would end 2011-12 with a fiscal deficit of Rs 12,482 crore, forming 2.87 per cent of the gross state domestic product.

State to spend 17,857 crore in FY12 on agriculture

Responding to pleas from the farming community, the BJP government in Karnataka today announced a spending of Rs 17,857 crore for 2011-12 on various schemes and programmes related to agriculture and allied sectors, including irrigation.

Presenting perhaps for the first time in the country a ''Green'' Budget for 2011-12 in the State Assembly, Chief Minister B S Yeddyurappa, who also holds finance portfolio, said his government will give greater thrust to the farm sector that had high job and income generating potential in rural areas.

Mr Yeddyurappa started the Budget speech by delivering the 46- page document on agriculture before turning to to the General Budget details.

He said despite several deficiencies faced by the farm sector, Karnataka had achieved a substantial growth in this sector during 2010-11.

The agriculture growth improved from 4.3 per cent in 2009-10 to a commendable 5.9 per cent this fiscal.
''This was possible due to BJP Government's initiative of several pro-active measures,'' he said.

source: UNI