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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News Network
May 11,2020

Mangaluru, May 11: Hundreds of migrant labourers today gathered at a service bus stand in Mangaluru to return to Uttar Pradesh and Jharkhand.

They were working in different parts of Dakshina Kannada and remained stranded without a job after the announcement of lockdown.

Labourers said that they have not registered with Seva Sindhu portal to avail pass for travelling outside the state.

Though all the people who gathered wore a mask, the physical distancing norm was not followed.

Already three Shramik trains from Mangaluru had left for Jharkhand, Uttar Pradesh and Bihar with nearly 3,500 stranded labourers in the last two days.

The gathered labourers are anticipating that they would be allowed to travel to their destinations in the Shramik trains that will leave in the evening from Mangaluru.

The doctors and paramedical staff who have arrived the spot are checking the health of the labourers before allowing them to travel to the railway station.

The cost of a ticket to Uttar Pradesh is Rs 1,040 per person (which includes bus fare from service bus stand to railway station, food and water bottle).

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News Network
May 21,2020

Bengaluru, May 21: With temples yet to open for devotees as coronavirus restrictions are in place, the Karnataka government is preparing for live streaming of sevas (service) and poojas offered to deities at temples that comes under the state's Hindu Religious Institutions and Charitable Endowment Department.

The government has also decided to develop an app and web-based software with an intention to provide information to devotees regarding temples, also to facilitate online donations and advance booking for various sevas offered there.

Regarding online live streaming, Commissioner of the Hindu Religious Institutions and Charitable Endowment Department has written to the Deputy Commissioners of all the districts and Executive Officers seeking a list of temples that comes under their jurisdiction where such facility can be provided.

"It has been intended to do online live streaming of sevas and pooja rituals at temples that come under the department in the backdrop of COVID-19 crisis. In this regard it is requested to provide a list of temples where online live facility can be provided to devotees, by abiding the traditions and practices of the temple," the letter said.

Though the temples are holding daily poojas and rituals, they are not open to public for now, with COVID-19 induced lockdown restrictions in place.

Officials had recently had stated that the department was planning to have a standard operating procedure (SOP) in place, that needs to be followed at temples in a post lockdown scenario, once they are opened for the public.

There are over 34,000 temples in the state that come under the department.

Meanwhile, in another letter to DCs of 15 districts, also Executive officers and administrators of 'A' grade temples, aimed at development of app and web-based software, the Commissioner has sought information regarding sevas offered at temples in their jurisdictions and those sevas for which option can be provided for devotees to do advance booking.

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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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