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
June 24,2020

Riyadh, June 24: Thousands of expatriates who managed to return to their home countries from Saudi Arabia during covid-19 lockdown are now in a dilemma as the Kingdom has clarified that it will not allow their re-entry till the end of the corona crisis. 

The Directorate General of Passports (Jawazat) announced on Tuesday that the mechanism to resume extension of the exit and re-entry visas for expatriates who are outside the Kingdom will be announced only after the end of the pandemic crisis.

The Jawazat stated this on its Twitter account while responding to queries from a number of expatriates who are currently outside the Kingdom and whose exit and re-entry visas have expired.

They inquired about the possibility of returning to the Kingdom after the resumption of international flight service. 

The Jawazat reiterated that the return of expatriates who left Saudi Arabia will be only after the end of the pandemic and in accordance with the process to obtain a valid re-entry visa.

The directorate said that in the event of any new decisions or instructions in this regard, they will be announced through the official channels.

It is noteworthy that the Jawazat had previously confirmed that its electronic services are continuing through the Absher and Muqeem online portals of the Ministry of Interior and that the service for messages and requests is still available and continuing through Absher for all the beneficiaries of its services.

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News Network
July 6,2020

Bengaluru, Jul 6: Karnataka government has revised quarantine norms according to which those entering the State from other states, including from Maharashtra, shall be placed in 14-days home quarantine.

Until now, the state government had issued that those returning from Maharashtra are to be placed under 7-day institutional quarantine followed by 7-day home quarantine.

A fresh state government order with the subject line "Regulation of movement of persons from other States to Karnataka" reads: "Whereas the State Government vide Order dated June 30, issued unlock 2 guidelines which permit reopening of more activities in a calibrated manner, in areas outside the Containment Zones, and to extend lockdown in Containment Zone upto July 31. The guidelines also permit unrestricted interstate movement of persons and goods adhering to the SOPs/ Guidelines issued by the Department of Health and Family Welfare and Department of Revenue (Disaster Management)".

Whereas, the Department of Health and Family Welfare issued revised SOP for the moment of persons from other State to Karnataka vide document dated June 8, this year, further, quarantine norms were modified vide Orders of even number dated June 15 and June 26.

"The quarantine norms are regularly reviewed and calibrated with the prevailing Unlock 2 guidelines and infusion of technology and community involvement to enforce the strict home quarantine. In light of the above, the quarantine norms issued vide Order dated June 26, has been further modified and is follows--Persons coming from other State to Karnataka, including Maharashtra shall be placed in 14-days Home Quarantine," the order read.

"The other conditions as specified in the Order dated June 15 and aforementioned SOP enclosed issued on June 8 by the Department of Health and Family Welfare shall continue to be in force until further orders," it added.

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coastaldigest.com news network
May 30,2020

Mangaluru, May 30: Accusing the chief minister B S Yediyurappa led Karnataka government of ignoring frontline warriors against covid-19, Mangaluru MLA U T Khader has demanded immediate release of pending salaries of doctors, lab technicians and nurses hired under the National Health Mission.

Addressing a press conference in the city today, the former minister said that Congress would launch an agitation if the government fails to release the amount immediately.

The non-payment of salaries clearly shows that the government has no concern for the COVID-19 warriors who are serving on a contract basis for two months, he said.

Mr Khader said there are 23,000 personnel hired under the National Health Mission in Karnataka including 600 in Dakshina Kannada district alone.  All of them are waiting for their salaries for the last two months.

“Asha workers were also partially paid for the month of April. If the government had concern towards COVID-19 warriors, they would have paid extra for the doctors, nurses, and other workers who are working tirelessly in the fight against COVID-19 at the grassroots level,” he added.

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