The Legislative Assembly on Tuesday adopted the Karnataka Appropriation (No. 2) Bill, 2022, that seeks to provide for appropriation out of the Consolidated Fund of the State towards defraying several charges to the extent of ₹2,71,542 crore.
With this, the State Budget got the stamp of approval of the Legislative Assembly. The Appropriation Bill was piloted by Chief Minister Basavaraj Bommai, who also holds finance portfolio.
The Assembly also adopted the Karnataka Fiscal Responsibility (Amendment) Bill, 2022, that provides for increasing the fiscal deficit to 3.5% of the estimated Gross State Domestic Product for 2022-23.
The Assembly adopted the Karnataka Motor Vehicles Taxation (Amendment) Bill, 2022, that provides for extending the period of payment of motor vehicle tax from 15 days to one month and also monthly payment of tax on pro-rata basis before the expiry of validity of tax.
