BANGALORE: Karnataka Chief Minister Basavaraj Bommai on Friday, February 17, announced an increase in the amount of interest-free short-term loans offered to farmers from Rs 3 lakh to Rs 5 lakh starting with the upcoming fiscal year in an effort to win over farmers in an election year.
Bommai, who also holds the finance position, stated this when presenting the 2023–2034 budget to the state Legislative Assembly. This would guarantee the availability of a hassle-free and need-based lending facility for making essential preparation for farm-related operations. More than 30 lakh farmers will receive loans totaling Rs 25,000 crore this year, he said.
Bommai said, the government has decided to provide an additional subsidy of Rs 10,000 under the new "Bhoo Siri" programme for owners of "Kisan Credit Cards" in the years 2023–2024.This would make it easier for farmers to purchase seeds, fertiliser, insecticides, and other farm supplies during times of need, he said.
The state would contribute Rs 2,500 and National Bank for Agriculture and Rural Development(NABARD) would give Rs 7,500. ''This will benefit around 50 lakh farmers of the state,'' he said.
Karnataka's upcoming assembly elections are expected to take place in April or May.
Bommai called this a "revenue-surplus" budget, noting that for the first time in the state since the COVID outbreak, revenue revenues are projected to be more than revenue spending by Rs 402 crore.
In the budget, the Chief Minister also announced the "Shrama Shakthi" programme, which would use direct benefit transfers to give landless women farm labourers monthly cash support of Rs 500 per head (DBT).
He introduced the "CM Vidya Shakti Program," which offers free education in government pre-university and government degree colleges, with the goal of enabling all high school graduates to complete their education. According to him, this will help the eight lakh kids in the state.
The government intended to establish a cloud-based state data centre with an investment of Rs 590 crore for various agencies and public sector organisations in an effort to maintain data protection.
There is a significant usage of information technology (IT) in state administration, and security of the administrative system is a top issue.To maintain the security of government websites, online services, and data, a 24x7 Cyber Security Operation Center (CSOC) with cyber professionals utilising new technology would be formed, Bommai said.
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