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
January 6,2020

Bengaluru, Jan 6: Karnataka Chief Minister BS Yediyurappa on Sunday launched the ruling BJP's outreach campaign in favour of the Citizenship Amendment Act (CAA) in Bengaluru.

"The CAA came into being after its amendment bill was passed in Parliament during its winter session with the support of major political parties. It is meant to give shelter and protection to Hindu minorities facing persecution in Pakistan, Bangladesh and Afghanistan. It does not take away any rights of Indians," Yediyurappa told residents on a door-to-door campaign in the city.

Accusing the opposition Congress of misleading the people on the CAA and inciting its protesters to indulge in violence, the chief minister said the Act does not cause any problem to all sections of Indians.

"There is no question of taking away anyone's citizenship, including that of Muslims, as the Act only facilitates the return of the Hindus persecuted in the neighbouring countries in the sub-continent," he asserted.

State deputy chief minister H.C. Ashwath Narayana and party's Bengaluru Central Lok Sabha member P.C. Mohan accompanied the chief minister on his outreach programme in some residential and commercial areas of the city.

As part of the nationwide campaign in favour the CAA, the party's state unit president Nalin Kumar Kateel and the state's dozen cabinet ministers led the campaign in other cities across the southern state.

"An awareness campaign will be peacefully held daily till January 15 across the state to counter the protests against it by students and other people at the behest of the Congress and Left parties," Kateel told reporters at Mangaluru, 350km southwest of Bengaluru.

Kateel is a BJP Lok Sabha member from the state's Dakshina Kannada seat.

Besides contacting the people directly at their doorstep through the party's leaders, cadres and supporters, the BJP is reaching all sections of society through social media and by holding pro-CAA rallies in all the 30-district headquarters across the state over the next 10 days.

"About 300 leaders and cadres of the party have fanned out in cities and towns across the state to explain the provisions of the CAA to the people and clarify their doubts, as the protesters were misleading them with wrong information about it," reiterated Kateel.

The CAA came into being after the President enacted the a law to give citizenship rights to Hindus, Sikhs, Jains, Parsis and Christians who have been allegedly persecuted as minorities in Afghanistan, Bangladesh and Pakistan over the last seven decades.

"A deliberate misinformation campaign has been carried out against the CAA by vested interests, misguiding a section of college/university students, their faculty, activists and members of the minority community on its provisions so as to create unrest and trigger violence in the country," Ravikumar claimed.

The ruling party also held rallies and public meetings in major cities like Mysuru, Mangaluru, Hubballi, Belagavi, Bellary and Kalaburagi across the state and enlightened the people on the benefits of the CAA.

"As social media is all-pervasive with greater reach and better impact, we are also reaching about one crore people of all ages through Kannada, Hindi and English script, messages and audio/video clips in the state during the fortnight campaign," added Kateel.

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News Network
March 31,2020

Patna, Mar 31: In arguably the first of its kind incident in the country, a young man in Bihar was beaten to death precisely because he had informed the district control room about two corona suspects who had arrived here in the State from Mumbai.

The incident took place in Sitamarhi in North Bihar where a 20-year-old youth Bablu Kumar was allegedly killed by Sudhir Mahto and Munna Mahto.

The two Mahtos had arrived from Mumbai to Sitamarhi around ten days back. Bablu, in the meantime, informed the district control room about the arrival of two persons from a State where a large number of people were afflicted with coronavirus.

A team of doctors on March 24 reached Runnisaidpur in Sitamarhi to examine the two suspects. Three days later, these two persons from Maharashtra tested negative.

But the incident (of informing control room and subsequent medial test) created such enmity between the family of Mahtos and Babloo that on Sunday when they found the 20-year-old young man sitting alone, they thrashed him so mercilessly that he died on the spot.

Shocked and grief-struck, Babloo’s father Vinod Singh eventually lodged an FIR with the police and named Sudhir Mahto, Munna Mahto, and their family members as accused in the killing of his son.

The police on Monday raided the place and arrested the Mahtos.

But then, this is not an isolated case of violence. In another incident that took place in Bihar’s Jehanabad district, a BDO Ajay Kumar and a police officer Chandrashekhar Kumar were attacked by fellow villagers when the officials reached there to quarantine those migrants who had reached there from Delhi. So angry were the villagers with the officials’ move to isolate the migrants that they smashed the window-panes of the government vehicles and attacked the officials.

The officials had to beat a hasty retreat. But they soon returned with additional police team which used brutal force and took local leaders into custody before restoring normalcy in the area.

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January 4,2020

Thiruvananthapuram, Dec 4: Depressed over the communal and racist policies of union government, a 67-year-old retired school headmaster committed suicide allegedly after losing matriculation certificates and documents related to his father.

The victim was identified as Mohammed Ali a resident of Narikunni in Kozhikode district in north Kerala.

On finding Ali missing from home on Friday morning, his family members conducted a search in the nearby areas. His body was later found in a well located in one of his relative’s compound nearby.

A suicide note recovered, suspected to have been written by the victim read, “I have lost all my important certificates. Matriculation certificates of me and my wife. Old documents of my father are also missing. I think all these documents were given away along with the waste recently. None should be held responsible for my foolish act. You may get into trouble.”

According to relatives, Ali was under severe stress after regularly watching programmes related to CAA. He was also actively involved in anti CAA campaign.

“He was worried about the documents and had serious apprehensions about future,” said his younger brother Abdul Nasser.

“After attending an anti CAA meeting in Kozhikode he had shared his apprehensions. He used to frequently discuss the topic with others ,” recollected Jaffer a local resident.

Ali also had health complications. Meanwhile, the local police said that preliminary investigations suggested that the man could have taken the extreme step after losing documents. However, the reason behind the suicide could be said conclusively after detailed probe.

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