Bengaluru, Mar 5: Karnataka is facing unprecedented economic difficulties following a Rs 8,887 crore reduction in the state's share in central taxes, cut in allocation under 15th finance commission and a Rs 3,000 crore hit in GST compensation, Chief Minister B S Yediyurappa indicated on Thursday.
Presenting the state budget for 2020-21 in the Assembly, he said Karnataka's share in central taxes has come down by Rs 8,887 crore in 2019-20 as per the revised budget estimates of the central government. Therefore the state's revenue resources have been reduced. Apart from this, Rs 3,000 crore GST compensation will also be reduced as collection from the GST compensation cess is not as expected, the Chief Minister said. "With all this it has become difficult to reach to reach the 2019-20 budget targets and to manage this situation within the bounds of the Karnataka Fiscal Responsibility Act, an inevitable situation has arisen this year to cut down the expenditure of many departments," he added.
As per the interim report submitted by the 15th finance commission, there is a reduction in the state's share of central taxes to 3.64 per cent compared to 4.71 per cent fixed by the 14th finance commission. In view of this, there will be a reduction of Rs 11,215 crore in the state's share of central taxes in 2020-21 budget, when compared to the previous one.
He, however, noted that the allocation recommendation of the 15th finance commission is limited to one year only and the complete report for the period 2021-22 to 2025-26 will be submitted in October 2020.
"Our government will soon submit a revised memorandum to the commission to set right the loss caused to the state with regard allocation for the year 2020-21 and give more allocation for the remaining period," the Chief Minister said. He also said, when compared to the previous year, there is an increase of approximately Rs 10,000 crore for 2020-21 with regards to government employees salary, pension and interest on government loans, but there is no proportionate increase in resources as compared to committed expenditure. "Due to this reduction of the state's share of central taxes as per the 15th finance commission report and other developments, serious difficulties are being faced in resource mobilisation efforts of the state," Yediyurappa said. "This magnitude of economic difficulties was never faced in the previous years by our state," he added.
However, the state's own tax revenue collection is excellent during this year, he said. As compared to the previous year, there is a growth of 14 per cent in State GST collection. "Based on this, in the new budget, efforts are being made to manage the reduction in the share of central taxes by stabilising the state's own resources more", the Chief Minister said.
Karnataka recorded a gross state domestic product growth rate of 7.8 per cent in 2018-19 and Yediyurappa said for the current financial year it is estimated to be 6.8 per cent.
Yadgir, Aug 8: In a shocking incident, a teenage girl died after a snake bit her in Yadgir district on Sunday.
Comments
RIP ...plis some one filled the on naga devata ... I think he retrun to naga loka ....
Yaar please call the creator as god....not creation....koi bhi jaati ho...don't take the characters of valmiki tales and call all the characters in it as GOD....keep it device...not every Pathar kutta billli saamp GO ect
Hinduism is commonly perceived as a polytheistic religion, Indeed most hindus would attest to this, by professing belief in multiple gods. while some hindus believe in the existence of 3 gods. some believe in thousands of gods and some other in thirty three crore i.e 330 million gods how ever learned hindus who is well versed in scriptures insist that a hindu should believe in one god.
The major difference between hindu and muslim is perception of god is common. Hindu belief in philosophy of pantheism. pantheism considers everything living and non living. to be divine and sacred.the common hindu therefore consider everything as god.he consider sun moon snake monkey etc and even human being as manifestations of god!
Islam on the contrary, exhorts man to consider himself and his surroundings as example divine creation rather then as divinity itself. Muslim therefore believe that everything is God's i.e the word god with an apostrophe 's'. In other words muslim believe that everything belong to god. The tree snake monkey etcin the universe belong to god.
Thus the major difference between the Hindu and Muslim Beliefs is the difference of apostrophe 's'. The Hindu says everything is god. The Muslim says everything is God's. Therefore 'WORSHIP THE CREATOR NOT HIS CREATIONS.
How can a god bite and kill his creations?
Yeh Wrong No. hai, Read your authentic scriptures and ponder on it.
RIP!
Superstition belief....snake does not spare anyone....but it should have...cant play with it....
we cannot blame the snake here because
girls know that is god as per hindhu culture but
snake dont know that it is god
Cow, buffalo, Rat, Elephant, Crow, Monkey, Donkey, Snake.. What next? Mooka praani galella dewara? worship the creator not creations! and specially not animals..
Indians are foolish, this happens only in India they do not know what to worship linga, snake, monkey, donkey, pig etc.....
Yes to cover their cunning and so called deva bhakti, some will start to blame that lady. Punishment from Naag devtha and they will continue these bling practice.
karana rao, Where is naga loka?
Whatever may be the reason, we lost a precious life. Pray for God's mercy on the poor family.
Snake is not God or it will not take you to God. Worship the creator and not his creation.
this is called mooda nambike and she deserve for it.
she will directly go to nagaloka, lucky girl.
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