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Karnataka Increases Tax on Petrol, Diesel, Liquor to Fund Loan Waiver
July 10, 2018
To finance the loan waiver for the farmers in Karnataka, Chief Minister H D Kumaraswamy hiked the tax rates on the key commodities viz. Petrol and Diesel. The rates have been increased from 30% to 32%, 19% to 21%, respectively. In addition to that, he has also proposed to increase the rate for the Indian Made Foreign Liquor (IMFL).
Karnataka government announced a budget of Rs. 2.13 trillion out of which Rs. 340 billion were allotted to farm loan waiver.
Photo credit: Got Credit on Visual hunt / CC BY
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