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Bengaluru, Feb 5: Despite installing a BJP government in Karnataka through disguised operation Kamala, the Prime Minister Narendra Modi-led union government has continued its step motherly attitude towards this south Indian state.

Under the new formula adopted to share central taxes among states Karnataka will be the worst-affected. Though the 15th Finance Commission has recommended a special grant of Rs 5,495 crore for the state for 2020-21, the Centre appears reluctant to pay up and instead has asked for the proposal to be reviewed.

During the Union budget, the report of the 14th Finance Commission headed by NK Singh for 2020-21 was tabled in Lok Sabha. It shows besides Karnataka, Telangana, Mizoram and Kerala saw their central tax share decrease, while Uttar Pradesh, Bihar and Maharashtra were top gainers.

Karnataka's share has decreased from 4.7% provided by the previous finance commission, to 3.6%. Acknowledging there is a steep decline in Karnataka's share from 2019-20, the finance commission has recommended a special grant of Rs 5,495 crore for the state.

Its share in 2019-20 was Rs 36,675 crore, but under the new formula, Karnataka will get only Rs 31,180 crore in 2020-21 from the divisible pool of Rs 8.5 lakh crore - a decline of 22.5%.

Also, the decrease for Karnataka comes on the back of a shortfall in 2019-20. While the state was entitled to Rs 39,806 crore from the divisible pool, it got only Rs 36,675 crore as the Centre suffered a tax revenue shortfall of Rs 1.5 lakh crore.

What is more disheartening though is the Centre's refusal to pay the special grant. Instead, the Union finance ministry has asked the finance commission to reconsider the recommendation. This has prompted the state to take up the issue with the Centre.

"The decline in central taxes devolution comes at a time when the state is going through a tough financial situation. Steps are being taken to ensure Karnataka gets justice," said chief secretary TM Vijay Bhaskar.

Officials said besides corrective measures for 2020-21, the focus will be on ensuring a fair share in subsequent years. However, Karnataka has little chance of getting its dues as the Centre is known to be prudent when distributing tax proceeds among states.

"The Centre has certain views on devolution. We have done our duty by submitting the interim report. It's up to the states to convince the Centre," said Ravi Kota, joint secretary of 15th Finance Commission.

Under the new formula, the commission changed the weightage for some of the six criteria it considers - population, area, forest cover, income distance, demographic performance and tax effort.

New Delhi, Mar 4: The Supreme Court on Wednesday revoked the ban of cryptocurrency imposed by the Reserve Bank of India (RBI) in 2018.

Pronouncing the verdict, the three-judge bench of the apex court said the ban was 'disproportionate'.

The bench included Justice Rohinton Fali Nariman, Justice S Ravindra Bhat and Justice V Ramasubramanian.

The Internet and Mobile Association of India (IAMAI), whose members include cryptocurrency exchanges, and others had approached the top court objecting to a 2018 RBI circular directing regulated entities to not deal with cryptocurrencies.

Advocate Ashim Sood, appearing for IAMI, submitted that Reserve Bank of India lacked jurisdiction to forbid dealings in cryptocurrencies. The blanket ban was based on an erroneous understanding that it was impossible to regulate cryptocurrencies, Sood submitted.

The petitioners had argued that the RBI's circular taking cryptocurrencies out of the banking channels would deplete the ability of law enforcement agencies to regulate illegal activities in the industry.

IAMAI had claimed the move of RBI had effectively banned legitimate business activity via the virtual currencies (VCs).

The RBI on April 6, 2018, had issued the circular that barred RBI-regulated entities from "providing any service in relation to virtual currencies, including those of transfer or receipt of money in accounts relating to the purchase or sale of virtual currencies".

Bengaluru, May 12: Former chief minister and senior Congress leader Siddaramaiah on Tuesday said that the Central and Karnataka government have failed in containing the coronavirus spread despite having enough time for preparations.

"Central and state government failed in properly controlling COVID-19. The first coronavirus case was reported in Kerala on January 30. Lockdown was imposed on March 24. Both Centre and state had enough time for preparations," Siddaramaiah said in a press meet here.

He said that the Central government did not stop the airline services on time.

"Karnataka government might have been able to stop COVID-19 properly. However, both the state and central government are playing politics over the issue and blaming Tablighi Jamaat for the spread, which is a political strategy painted by the RSS," Siddaramaiah said.

"Who gave the licence to Tablighi's international convention? Who gave them permission in Delhi? They didn't control it. Central government is directly responsible for the increasing numbers of COVID-19 cases in India," he added.

Siddaramaiah said that the lockdown was imposed without any preparation, which he said caused huge problems for the migrant workers across the country.

"Now, the government is collecting ticket fare and looting migrant workers. They don't have jobs or food, they don't have money, and they earn every day to survive. How will they pay for the tickets? Why the government is not arranging for free trains?" the Congress leader said.

He said that around Rs 35,000 crore have been credited to PM CARES fund, Rs 3,000 crore of which was credited from Karnataka alone. "Why are they not using that money?" he asked.

Siddaramaiah said that the party is demanding for the Centre to arrange for migrant workers to return to their native places across the country free of cost.

"We asked Chief Minister to call an all party meeting. We gave many suggestions, which this government did not consider. We also took a delegation and gave a memorandum about farmers, daily wage workers, road side vendors, barbers, problems faced by the unorganized sector. But this government didn't consider any of it," he said.

Questioning the Central government's suggestion to States to amend their Agricultural Produce Market Committee (APMC) Acts, Siddaramaiah said that the move is against the federal system of the country and claimed that it harms the interests of small scale farmers.

He said that the BJP-led state government has also decided to postpone the Gram panchayat elections in the state and is trying to nominate their party workers for village panchayat elections.

"The Government must continue with the present members of the Gram panchayat. If BJP tries to nominate their party members to village panchayats, we will take to streets to protest despite the lockdown," Siddaramaiah added.