The state government argues that these schools have been violating the language policy, which is the core to the state's Kannada ethos.
The state government will soon appoint consultants to prepare the feasibility report for the project.
Finance Minister Arun Jaitley said the excise duty cut would have an impact of Rs 10,500 crore on central government's tax revenues.
Police have made tight security arrangements for the swearing-in ceremony. Bharatiya Janata Party president Rajnath Singh and the party's senior leader M Venkaiah Naidu will be present