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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June 12,2020

Bengaluru, Jun 12: Karnataka on Friday reported 464 discharges, its highest, as the state confirmed 271 new cases of COVID-19 and seven related fatalities, taking the total number of infections to 6,516 and the death toll to 79.

In a significant development, the day also saw the total number of discharges overtaking the number of active cases in the state.

As of June 12 evening, cumulatively 6,516 COVID-19 positive cases have been confirmed in the state, which includes 79 deaths and 3,440 discharges, the Health department said in its bulletin.

It said, out of 2,995 active cases, 2,976 patients are in isolation at designated hospitals and are stable, while 19 are in ICU.

The seven deaths include four from Bengaluru, two from Kalaburagi and one from Hassan.

Those from Bengaluru are three women aged 61, 65 and 49 and a 52-year old man.

Among the dead from Kalaburagi are two men aged 53 and 48 while a 60-year old man from Hassan also succumbed to the virus.

Out of 271 new cases, 92 are returnees from other states, majority of them from neighbouring Maharashtra.

While 14 are those who returned from other countries.

Among the districts where the new cases were reported, Ballari accounted for 97 cases, followed by Bengaluru urban 36, Udupi 22, Kalaburagi 20, Dharwad 19, Dakshina Kannada 17, Bidar 10, nine each from Hassan and Mysuru, Tumakuru 7, Shivamogga 6, four each from Raichur and Uttara Kannada, three each from Chitradurga and Ramanagara, Mandya 2, and one each from Belagavi, Vijayapura and Kolar.

Udupi district tops the list of positive cases, with a total of 991 infections, followed by Kalaburagi (816) and Yadgir (735).

Among discharges also Udupi tops the list with a total of 474, followed by Kalaburagi (345) and Bengaluru urban (299).

A total of 4,26,341 samples have been tested so far, with 9,835 on Friday alone.

So far 4,11,244 samples have been reported as negative, and out of them 9,139 were reported negative today.

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News Network
January 30,2020

Mangaluru, Jan 30: A dentist has been arrested by the Dakshina Kannada district police on charge of sexually harassing a woman patient during treatment at a hospital in Beltangady taluk.

The accused has been identified as Dr Sudhakar. He is facing charges under section 354, 354A(1)(I) of IPC.

The incident occurred yesterday when a local woman had been to the government hospital at Kasaba village in Beltangady for dental treatment.

According to the woman, Dr Sudhakar deliberately touched her body inappropriately and sexually harassed during treatment.

The shocked woman went to the jurisdictional Beltangady police station and lodged a complaint. The doctor was arrested and produced before the court.

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News Network
April 6,2020

Bengaluru, Apr 6: Karnataka State Board for Auqaf on Monday suspended mass prayers and visit to the Qabrasthans (graveyards) and dargahs on the occasion of Shab-e-Barat on April 9 due to the coronavirus pandemic.

"It is hereby directed to all not to hold congregational prayer in the Masjid and the management of the Qabrasthans/Dargahs throughout the State should suspend the visit of public on the occasion of Shab-e-Barat on Thursday, April 9," according to a statement here on Monday.

It said, no public shall be allowed to perform religious rituals in the Qabrasthans/Dargahs and all the gates shall be kept closed.

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