Bengaluru, Jan 6: Chief minister BS Yediyurappa has plenty on his plate ahead of the 2020-21 state budget to be presented on March 5 what with the economic slowdown and a sizeable shortfall in revenue, but the biggest worry is the uncertainty surrounding Goods and Services Tax (GST) compensation from the Centre.
There is also uncertainty over the state’s share under devolution of funds as per the 14th Finance Commission recommendation.
Finance department officials say that while Rs 3,500 crore is expected as GST compensation for every two months, the devolution of funds would have yielded about Rs 7,000 crore for the current fiscal. But the economic slowdown appears to have hit the Centre’s finances and is likely to impact the state’s share of funds.
“The GST payment for August-September came only in December and we are unsure how much we will get for October-November and December-January,” an official said. Estimates suggest the state’s share under devolution of funds could be reduced by half.
At a meeting of finance department officials last week, Yediyurappa is said to have admitted that unlike those states where non-BJP parties are in power — they have threatened agitations and court cases — the government cannot go “against” Prime Minister Narendra Modi’s regime.
Instead, Yediyurappa has urged senior IAS finance department officials to lobby for funds with their counterparts in New Delhi. On his part, Yediyurappa is said to have already written to Modi and finance minister Nirmala Sitharaman to at least release the state’s share of GST compensation for the current calendar year of 2019. He is planning to personally meet the PM in Delhi to push the state’s case.
Comments
This is very interesting, You are a very skilled blogger.
I have joined your rss feed and look forward to seeking more of your wonderful post.
Also, I've shared your site in my social networks!
my web page - williams digital piano review: http://jiuzhuoguoji.com/comment/html/index.php?page=1&id=6068
I know this if off topic but I'm looking into starting my own weblog and was curious
what all is required to get setup? I'm assuming
having a blog like yours would cost a pretty penny?
I'm not very web savvy so I'm not 100% certain. Any recommendations or advice would be
greatly appreciated. Cheers
Take a look at my homepage; best portable
electric piano (Mackenzie: http://classified.co.nz/author/elinor33s49/)
I'm impressed, I have to admit. Rarely do I encounter a blog that's both educative
and engaging, and let me tell you, you have hit the nail on the head.
The problem is something that not enough people are speaking intelligently about.
Now i'm very happy that I found this in my hunt for something regarding this.
my blog post: the best digital piano: http://amprom.org/?option=com_k2&view=itemlist&task=user&id=761492
Add new comment