Karnataka fears massive revenue loss after currency chaos

November 16, 2016

Bengaluru, Nov 16: The Centre's move to demonetize high value currency notes threatens to derail Karnataka's revenue collection this financial year. Officials fear that the state might miss its revenue target by at least Rs 5,000-Rs 15,000 crore for the current fiscal. The move has already affected liquor sales, property transactions, and sale of new and used vehicles.

Untitled-1"We are still assessing the impact and will get a clear picture by the weekend. We are certainly expecting some impact,'' said ISN Prasad, additional chief secretary, state finance department. "The government's revenues have taken a severe beating following the demonetization move. Whatever taxes were supposed to come to the state, including commercial taxes, sales taxes and all the revenues have been hampered. It will certainly have a huge impact on this fiscal's tax collection," said another finance department official.

The government's excise department has been the worst hit. The sale of foreign liquor has come down drastically in the past few days. A senior excise department official said: "Most of the excise revenue come from the sale of Indian Manufactured Foreign Liquor. Officials at government outlets have claimed that the sale has gone down by at least 50%."

The government had fixed an ambitious revenue target of Rs 16,510 crore for the excise department this year following a 25% hike in taxes on liquor. The government has collected only about Rs 7,500 crore so far. "People have stopped buying liquor, especially the expensive ones, due to shortage of high-value currency," added the official.

The revenue target for the stamps and registration department had been fixed at a higher Rs 9,100 crore for the current fiscal. Most of this amount comes from revenue layouts through stamp duty and property registration, which has completely stopped since November 8. "Bengaluru is a big market for secondary real estate, which traditionally works on 60:40 white and black money ratio. Ban on transaction of black money has badly hit property registration," said a senior official of the stamps and registration department.

Comments

Althaf
 - 
Wednesday, 16 Nov 2016

Not only in karnataka All over india it will effect.

Skazi
 - 
Wednesday, 16 Nov 2016

let the Govt reduce the Value of lands for registration purposes... then the govt will get back the revenues.... as the buyers will come forward in the real estate business .....
The govt does not apply its mind while fixing the land values ... It goes by survey no.... whether the site has road connection or not,, the govt value is same for all sites ....

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coastaldigest.com news network
May 12,2020

Bengaluru, May 12: Karnataka sees the highest single day spike since the start of the pandemic in the state, higher than Sunday's spike in cases. 63 new cases have been reported in last 24 hours. 

With this, the total number of COVID-19 cases rises to 925, said the state health department's bulletin on Tuesday.

While 42 new positive cases reported from May 11, 5 pm to May 12, noon, another 21 fresh 21 cases reported by 5 pm on May 12.

To date, 921 COVID-19 positive cases have been confirmed. This includes 31 deaths and 426 discharged," the bulletin read further.

Morning Bulletin

New cases in Bengaluru Urban 3,  Yadgir 2, Bagalkote 15, Dakshina Kannada 2, Dharwad 9, Bidar 2, Hassan 5, Ballari, Mandya, Chikkaballapura, Kalaburagi (one each).  

Evening Bulletin

Cases in Gadag (3), Kolar (5), Bengaluru Urban (1) and Davangere (11) cases. 

Cases reported on 12 May: 63

Total cases in state: 925
 

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coastaldigest.com news network
July 7,2020

Mangaluru/Udupi, Jul 7: Coastal districts of Dakshina Kannada and Udupi crossed 100 plus Covid19 positive cases mark again on Tuesday, after slipping to double digit cases for a day on Monday. While Dakshina Kannada accounted for 83 of these cases and one death, Udupi tallied 28 fresh cases taking the combined tally of new cases to 111.

DK stood second behind Bengaluru Urban that recorded 800 out of 1,498 new cases that the state recorded for the day.

In all, 48 primary contacts testing positive led DK district’s spurt of 83 cases, Sindhu B Rupesh, deputy commissioner, said. Influenza like illness (ILI) cases accounted for 20 of the 83 cases, one each were diagnosed with severe acute respiratory illness (SARI) and from pre-surgery sample collected before delivery, two had history of inter-district travel, three each were cases of random, pre-surgery samples and source of infection being traced.

A 65-year-old male from Moodbidri who had co-morbid conditions including diabetes, pneumonia and heart ailment succumbed to the pandemic during the day. He was admitted for treatment at a private hospital on July 3. With this, the death toll due to coronavirus in DK district rose to 26 and two of them are due to non-Covid reasons including a case each of suicide and a person succumbing to liver cirrhosis and they tested positive post death.

G Jagadeesha, deputy commissioner, Udupi district said the 28 new cases took the total positive cases in Udupi to 1390. With 1182 patients discharged and three deaths, Udupi as on date has 205 active cases. Those who tested positive include KSRTC driver who travelled to Bengaluru, vegetable vendor at Adi Udupi market and people with travel history to Tumakuru, Bengaluru, Mumbai, Dubai and two even from DK and rest primary contacts, DC said.

Health authorities in DK district also discharged 99 patients during the day to keep their active cases tally at 650. The two districts combined have 855 active cases as on date. As per revised protocol issued by the department of health and family welfare, the district administration also permitted 28 patients with mild symptoms to undergo home isolation while the rest are being treated either at private hospitals or at the designated Covid19 hospital for DK.

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News Network
February 12,2020

Bengaluru, Feb 12: Hinting at the possibility of a consolidation of ex-Janata Parivar leaders, JD(S) supremo HD Deve Gowda said Tuesday his party was open to talk to any former Janata leaders, who are at present either in various factions of the Janata Dal or in Congress and BJP. The veteran leader also appreciated Arvind Kejriwal-led AAP's way of work.

At the party's National Executive Committee meeting held here, Gowda said that some ex-Janata Parivar leaders had reached out to him in this regard. His comments come at a time when JD(U) leader Mahima Patel recently rekindled the debate of a unified Janata Parivar.

However, Deve Gowda was clear that he was not interested in pursuing anyone who was happy with the party they were in. "It's a waste of time to pursue someone who has seen success within their party. I am not going to do that. I am willing to persuade only those who are not holding any office at present," he said. He added that he had already asked party leaders in Kerala to take the initiative and figure out ways to bring leaders together. As for other places, it would take him some time to reach out people, he added.

The party, which organised the National Executive Meet here on February 10 and 11, spoke of strategies to rejuvenate the party from the grassroots level. The party is also conducting a membership drive.

'Much to learn from AAP'

There is much to learn from Aam Aadmi Party, which registered a victory in Delhi elections on Tuesday, said Devegowda. "Kejriwal has showed that caste does not matter. There is lesson to be learnt from the work done by AAP," he said. Later in the day, Deve Gowda also wrote a letter to Arvind Kejriwal, congratulating him on his victory.

On the occasion, the party also came up with resolutions to urge the central government to release pending amount of GST it owed to state governments apart from focusing on development of labour, industries and agriculture; to demand the centre to rollback decision on CAA, NRC and NPR and to urge the centre to pass the women's reservation bill.

At the JD(S) National Executive Meet, even as news poured in about the victory of Aam Aadmi Party in Delhi elections, the JD(S) leaders celebrated Arvind Kejriwal's victory. Seeing it as an optimistic sign for regional parties across the country, the leaders distributed sweets to mark the hat trick win of Kejriwal.

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