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
June 7,2020

Bengaluru, Jun 7: A mobile app and a portal offering technology-driven solutions to manage and mitigate floods in urban areas were launched here on Saturday by Karnataka Revenue Minister R Ashoka.

The mobile app 'Bengaluru Megha Sandesha' was developed to disseminate information on rainfall and flood forecast, location-specific dynamic weather directly to the public. "The in-built features of the app and the information provided for a city is the first of its kind in the country," a press release said. This is a system of providing rainfall, flood forecasts and early warning to the officials of government agencies in the city through SMS to their mobile phones, social media platforms and a dedicated web portal, the release said.

The information provided would help the civic authorities act in advance and manage the floods, it said. The portal 'Varunamitra' is for information on the weather. The information provided is based on real-time data from 100 telemetric rain gauges installed and maintained at various locations across the state, it said. Rainfall forecast is based on the weather research and forecast models developed by the Indian Space Research Organisation (ISRO), Ahmedabad, the release said.

The information on flood forecast is based on the hydrological model, hydraulic routing and automation of the results. The Karnataka State Natural Disaster Monitoring Centre, along with the Indian Institute of Science (IISc), took up this project on the urban flood model for Bengaluru city. The project was funded by the Central government's department of science and technology, the release added. 

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News Network
June 23,2020

Bewngaluru, Jun 23: Karnataka Chief Minister B S Yediyurappa on Tuesday said Covid-19 related fatalities in the state was far less compared to other major states, as he called on people and front line corona warriors infected by the virus not to lose courage.

The Chief Minister made the statement following the alleged suicide of a constable attached with the Karnataka State Reserve Police after he tested positive for Covid-19. "The total number of COVID related deaths in the state is very less compared to other major states.

There is no reason for any infected citizen or government employees to lose courage. The government is always with you," a tweet on the Chief Minister's official twitter handle said.

Of the total of 14,011 deaths reported so far, Maharashtra accounted for the highest with 6,283 fatalities, followed by Delhi with 2,233, Gujarat with 1,684 and Tamil Nadu with 794.

Acknowledging that police form the frontline of corona warriors and were working putting their lives at stake, he said a special Covid-19 testing center is being set up for them and all measures will be taken to provide the best treatment for those infected.

As of June 22 evening, cumulatively 9,399 Covid-19 positive cases have been confirmed in the state, which includes 142 deaths and 5,730 discharges.

The constable, aged about 50 years, was attached with the Karnataka State Reserve Police and was said to be depressed after getting tested positive for Covid-19, sources said.

Expressing condolence over his death, another tweet on the Chief Minister's handle said he has directed officials to to provide all necessary compensation and facilities to the family of the deceased at the earliest. Bengaluru has in the last few days has seen a spike in the number of police personnel getting infected by the virus. At least 74 of them have tested positive in the city and are undergoing treatment, while three have died so far, official sources said.

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News Network
January 10,2020

Bengaluru, Jan 10: Karnataka Chief Minister BS Yediyurappa on Friday launched 'Sapthapadi', a mass marriage program in Bengaluru.

The state authorities will provide a mangalsutra worth Rs 40,000 and Rs 5,000 to the groom. They will also give Rs 10,000 to the bride after marriage.

The state government has also informed that the department has shortlisted some temples where the mass marriages will be held.

Yediyurappa also confirmed that the government will help communities like Muslim and Christians also to organise mass marriage as per their respective rituals.

According to the state government guidelines, issued last year in November, both parents of the couple should attend the ceremony if the duo wants to avail benefits of this offer but those who want to marry without their parent's permission do not stand a chance here.

Also, those wanting a love marriage will not be able to reap the benefits of the scheme. The plan is to conduct about 1,000 marriages in 90-100 temples.

The couples wanting to tie the knot are expected to register themselves 30 days before the scheduled date in the temple. Following which a list will be prepared.

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