With this, petrol price is said to rise by Rs 1.60, and diesel will get costlier by Rr 1.59 per litre.
Bengaluru, 05 Mar: In a bid to overcome budget constraints, Karnataka government today increased the tax on petrol from 32% to 35% and diesel from 21% to 24%, with effect from April 1.
With this, petrol price is said to be costlier by Rs 1.60, and diesel will get costlier by Rr 1.59 per litre.
Yediyurappa, who also holds the finance portfolio, increased excise duty on Indian Made Liquor (KML) across 18 slabs by six per cent.
Karnataka Chief Minister BS Yediyurappa who also doubles up as the state finance minister is presenting his seventh budget in the Parliament.
"For the year 2020-21, a total amount of Rs 55,732 crore is provided for stimulating economic growth sector", the Chief Minister said.
He said the revenue collection target for the Commercial Taxes department for the year 2020-21 is fixed at Rs 82,443 crore.
Stating the government had fixed a revenue target of Rs 20,950 crore for the excise department for the year 2019- 20, he said at the end of February Rs 19,701 crore had been collected.