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
February 6,2020

New Delhi, Feb 6: BJP MP Tejaswi Surya said on Wednesday that the majority community has to remain vigilant or Mughal rule will return to the country, as he slammed the anti-CAA protest at Shaheen Bagh.

He was participating in the debate on Motion of Thanks on the President's Address in Lok Sabha.

Referring to the ongoing protest at Shaheen Bagh against the Citizenship Amendment Act, he said, "Unless majority community remains vigilant, the days of Mughal Raj may not be far away."

Surya also praised Prime Minister Narendra Modi for resolving several critical issues which had been pending for several decades.

The CAA, he said, was aimed at resolving the issues emanating from Partition and added, "The new India cannot to built without healing the wounds of the past."

He said that the CAA was about giving citizenship to persecuted minorities in Pakistan, Bangaladesh and Afghanistan and not for taking away anyone's citizenship.

Under the leadership of Modi, Surya said, several issues of the past have seen closure. These include abrogation of Article 370, construction of Ram temple, Bodo problems and abolition of Triple Talaq.

K Sudhakaran (Cong) said that a time when the economy was going through its worst phase and unemployment was high, the President in his speech talked about making India a USD 5 trillion economy by 2024.

On the comments of the government functionaries that fundamentals of the economy are strong, he said the same expression was used by the then US President George Bush, days before the collapse of the America's iconic investment banker Lehman Brothers.

Not only that, Sudhakaran said even before the Great Depression, the then US President used to say that fundamentals of their economy were strong.

Anupriya Patel (Apna Dal) demanded that the government set up All India Judicial Services Commission to ensure representation of the backward community in the judiciary.

Khagen Murmu (BJP) regretted that West Bengal government was not implementing the welfare schemes of the Centre in the state.

Badruddin Ajmal (AIUDF) said that people of all communities have fought for freedom of the country and it would be incorrect to declare everyone opposing the government's policies as 'gaddar' (traitor).

He said that the government should talk to people protesting against the CAA at Shaheen Bagh and other places, and explain the provisions to them.

Shrirang Appa Barne (Shiv Sena) demanded that the ruling party fulfil all promises it had made to the people of the country.

He regretted that although the government promised to double the income of farmers by 2022, farmers were still committing suicide.

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News Network
July 19,2020

Mangaluru, Jul 19: In the wake of the COVID-19 lockdown imposed till July 23, streets in the Dakshina Kannada district here bore a deserted look today (Sunday) morning.

The state government had allowed relaxation hours between 8 am to 11 am in the week-long total shutdown. However today there was no relaxation. 

All shops including those selling essential commodities were also seen closed in the district today. Besides, barricades were also seen stationed at different junctures on the road.

As per Karnataka's COVID-19 information portal, a total of 59,652 coronavirus cases have been reported in the state, including 36,631 active cases and 21,775 recoveries. So far, 1,240 people have died due to the infection in the state. 

Dakshina Kannada so far recorded 3,311 covid-19 positive cases and 75 deaths.

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coastaldigest.com news network
July 1,2020

Bengaluru, Jul 1: Eighteen private hospitals here have been slapped with a show-cause notice after a 52-year old patient with influenza-like illness symptoms died here on being allegedly denied admission by them citing "non- availability" of beds. 

Health Minister B Sriramulu on Wednesdy said refusal to provide treatment was not only inhuman but also illegal as he tagged a copy of the notice in a tweet. 

"Notice has been served to the hospitals taking cognisance of the (media) reports about the denial of admission to a patient in emergency. Denying medical assistance during emergency is not only inhuman but also illegal," he tweeted. According to a report, the son and nephew of the patient took him to the 18 hospitals on Saturday and Sunday but he was not admitted on the pretext of non-availability of beds or ventilators. 

The man died later. The Commissioner of Health and Family Welfare issued the show-cause notice to the top authorities of the hospitals under the Karnataka Private Medical Establishment (KPME) Act, 2007. 

"By denying admission to the patient, your hospitals have violated the provisions of the KPME Act. You are liable for legal action," the notice said, seeking replies within 24 hours as to why action should not be against the hospitals. 

This was a "clear violation" of providing medical assistance and admission necessitated under the agreed provision of the KPME registration. Private medical establishments cannot refuse or avoid treatment to patients suffering from COVID-19 or having symptoms, the common notice added. 

The incident comes in the backdop of repeated instructions by the government that hospitals cannot deny admission to the patients suffering from coronavirus or having symptoms.

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