Karnataka Chief Minister B.S. Yeddyurappa Thursday presented a surplus budget for fiscal 2011-12.
VAT on Gold increased to 2% from 1%
Increase in the VAT rate on goods currently taxable at 13.5 % to 14 %.
Reduction of tax to 5 % on school bags of prices upto Rs.500.
Reduction of tax on all kitchen utensils from 13.5 % to 5 %.
Increase in the turnover limit for compulsory audit of accounts of dealers from 60 lakh rupees to 1 Crore rupees.
What Belgaum District got:
Rs.2.5 crore for development of Sugarcane Research Institute at Mandya and Belgaum.
Rs.5 crores for construction of a Glass House in memory of the Vishwa Kannada Sammelana held at Belgaum in March 2011.
Rs.138 crores provided to complete the ongoing works relating to Suvarna Soudha in Belgaum.