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Karnataka Budget: Six key takeaways for the state's aam aadmi

15 March, 2017 9:04 AM
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Karnataka Budget: Six key takeaways for the state's aam aadmi

Measure: Karnataka has proposed steps to increase the retirement age of private sector employees from the present 58 years to 60 years.

Impact: It may not mean much in the era of hire and fire as most hirings happen on contract basis in private sector.

Measure: Motor vehicle tax on two wheelers priced above Rs 1 lakh goes up by 6% to 18%.

Impact: It will pinch buyers hard, but unlikely to hurt sales. Manufacturers may tweat pricing strategy in the event of a drop in sales.

Measure: Karnataka has proposed to cap admission fee at cinema theatres and multiplexes at Rs 200.

Impact: Multiplexes will see it as unnecessary intervention in the free-market as only some movies some times fetch a premium.

Measure: Multiplexes in Karnataka will have to exhibit Kannada and regional language films in one of their screens between 1.30 pm and 7.30 pm.

Impact: Not clear if this is to rein in English movies. If multiplexes given a choice between Kannada and regional movies, they may go for a regional movie to comply with the law.

Measure: Bangalore city will see addition of 3000 new buses during 2017-18 to reduce congestion. The city will also have 150 electric buses.

Impact: This is a victory for the #BusBhagyaBeku campaign, and all bus users will cheer the announcement.

Measure: Two stroke ??auto-rickshaws to be banned from roads from April 1.

Source: economictimes.indiatimes.com

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