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.
Comments
Ahmd
What are u teaching vedas to them. they are not following vedas, because they are worshiping Devils.
Ganapathi's father Shiva, Could not recognize his own son Ganapathi, How will he Recognise u.
master plan of MELVIN.. he need post in BJP.. tiz move is very danger to christian community please dont believe MELWIN and RSS ....
OMG...Christian Hindu Bhai Bhai....Hum Saath Saath Hain..Dear Father's And Sister's Dont forget Church attack incident that took place in Mangalore. These are the same people who beat innocent Nuns, Womens and Children. MIND IT.
why don't Chaddis go to churches and masjid..???? why don't they show unity..????. Chaddis wants other religion people to live like their slaves. (vinashakala vipareetha buddi)
This is not communal harmony ....this is an act of cowardness .....
Communal Harmony does not mean worshiping another God or another god of any other religion ...Harmony means give and take respect and love each other. and do respect all religion ....
DOnt misuse Communal Harmony
Guys in movies u have watched khans dancing , praising In front of Hindu Gods....but It doesnt Mean They worship or Believe...its a Part of Movie To entertain.....this Is Also same Its Part to Maintain harmony....plz take Things In different Angles....
Prem ...Jesus never Denied When His Follower Called him God.
VIREN #6
Muslims are NOT ABUSING but telling the TRUTH.
Vedas says NA TASYA PRATImA ASTI which means there is no image of God... it also says God is one ...
Muslims are telling that what VEDAS says is right and we ask U guys to PONDER on Y VEDAS says the following
*NA TASYA PRATIMA ASTI (S upanishad 4:19)
*They enter Darkness those who worship natural things, They sink deeper in DARKNESS those who worship Sambhuti (Created things) - Yajurveda 40.09
*God is one without a secong (Chondogya 6:02 1)
*Of that God there is no image primita (YV 32:3)
* All those whose intelligence has been STOLEN by material desires, they worship many Gods - Bhagwat Gita 7:20
READ to understand ...
Remove your hatred and use your intellect to know the reality of IDOL Worship.
You pray Ganapati and throw him in the sea at the end of the day....pity on you guys....I have seen people take drinks and dance behind it...no God fearing...no honesty....no devotion at all...looking for creating problems around....very bad....
They could have gone and prayed some other temples but not in RSS HQ....shame on them....they are scared of.....Muslims would not do this type of shirks....
Dear Vimala... #7
It is better to obey God (Who says worship him alone) rather than disobeying cheddis who want people to bow down to idols.
U will never recognise the devils trap in worshiping many man made created objects UNLESS U READ the manual from God...
QURAN challenges human being to create a book like that or a verse similar to it.
If U not read, then please read it and use your intellect to know what God says about the CREATION and life of this World... Please
Recognise YOUR CREATOR and worship him alone... it will be better for our life and hereafter.
Here some Zakir Naik Bhakts are trying to preach their religion. I request the moderator to remove the unnecessary out of the topic comments.
You have done a good job by posting a news report that spread the message of unity. But, some readers trying to create communal disturbance.
God Created man with intellectual power which we need to use it.
Stones are created lifeless by God
When we dont use our intelligence, We bow down to lifeless objects instead of God himself.
Its a great injustice done by human being to God..
God created U and U worship the STONES.
People should know who is their CREATOR rather than bowing down to lifeless object which cannot benefit nor harm the intelligent mankind... which blessed with life itself.
if U R TRUTHFUL in searching God ... He will guide u, if u are HONEST.
Dont fall trap to LIARS and AGGRESSORS of our Society.. God's help comes when we stand with the TRUTH....
Ok Ok.. I fully agree that these are peace loving people. By the way where were they when true Indians were fighting for the freedom of the nation? Both of them were with ......?
This is the spirit of truth. It attracts people of all faiths. Hats off the Christian nuns and fathers for their open minded gesture. Muslims should learn from Christians how to live in a multi cultural society.
As rightly pointed out by V Nagraj ji, these nuns and priests have proved their honesty. Can the peace loving Hindu community expect same gesture from one umma gang? Or they will continue to abuse all Hindu gods as per the teaching of their scripture ?
I think they did not woship Ganapati. They just offered a saree and took prasadam. Actual worship takes place in the heart and it cannot be seen by anyone. This is just a harmony visit.
If God cannot recognise his own son... Then how will he recognise his creation ....
If God cannot replace his son's head , Then how can we depend on him for our blessings.
Something is wrong.. either cheddis are against NA TASYA PRATIMA ASTI or those who worship idols are ignorant about God...
Please search for TRUTH.. God guides those who are HONEST from their heart..
No need to Fear cheddis and sell your souls to cheddis..
Worship the Creator and not his creation...
Jesus never said worship me but the father.... (God).
Na Tasya Pratima Asti - There is no image of God.. (What U worship in the form of idol cannot be god as per Vedas)
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