Bengaluru, Mar 5: Karnataka is facing unprecedented economic difficulties following a Rs 8,887 crore reduction in the state's share in central taxes, cut in allocation under 15th finance commission and a Rs 3,000 crore hit in GST compensation, Chief Minister B S Yediyurappa indicated on Thursday.
Presenting the state budget for 2020-21 in the Assembly, he said Karnataka's share in central taxes has come down by Rs 8,887 crore in 2019-20 as per the revised budget estimates of the central government. Therefore the state's revenue resources have been reduced. Apart from this, Rs 3,000 crore GST compensation will also be reduced as collection from the GST compensation cess is not as expected, the Chief Minister said. "With all this it has become difficult to reach to reach the 2019-20 budget targets and to manage this situation within the bounds of the Karnataka Fiscal Responsibility Act, an inevitable situation has arisen this year to cut down the expenditure of many departments," he added.
As per the interim report submitted by the 15th finance commission, there is a reduction in the state's share of central taxes to 3.64 per cent compared to 4.71 per cent fixed by the 14th finance commission. In view of this, there will be a reduction of Rs 11,215 crore in the state's share of central taxes in 2020-21 budget, when compared to the previous one.
He, however, noted that the allocation recommendation of the 15th finance commission is limited to one year only and the complete report for the period 2021-22 to 2025-26 will be submitted in October 2020.
"Our government will soon submit a revised memorandum to the commission to set right the loss caused to the state with regard allocation for the year 2020-21 and give more allocation for the remaining period," the Chief Minister said. He also said, when compared to the previous year, there is an increase of approximately Rs 10,000 crore for 2020-21 with regards to government employees salary, pension and interest on government loans, but there is no proportionate increase in resources as compared to committed expenditure. "Due to this reduction of the state's share of central taxes as per the 15th finance commission report and other developments, serious difficulties are being faced in resource mobilisation efforts of the state," Yediyurappa said. "This magnitude of economic difficulties was never faced in the previous years by our state," he added.
However, the state's own tax revenue collection is excellent during this year, he said. As compared to the previous year, there is a growth of 14 per cent in State GST collection. "Based on this, in the new budget, efforts are being made to manage the reduction in the share of central taxes by stabilising the state's own resources more", the Chief Minister said.
Karnataka recorded a gross state domestic product growth rate of 7.8 per cent in 2018-19 and Yediyurappa said for the current financial year it is estimated to be 6.8 per cent.
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If Mr.Bhat arrested then it will be in Guinnus Book of records!! Congress Government have no guts to do it!! Mr. Bhat a well known figure in creating communal tension involving directly / indirectly in various types of crimes in our district since 35 years!!! but no Government so far not even able to file an FIR against him!! This is very sad news for peace loving people of this district. In this case also CID is helpless.
Do anybody have the guts to touch this chaddi? Hope atleast this time.
Put him behind the bars. Law is equal to all.
No one can touch bhat, even congRSS goverment cannot touch him because all are wearing his chaddi.
Not god call father or baap, shame on you yaar study history of that rowdy bhat, do you know he is barking about cow but he is selling cow from your mother land sulliya asram,
Arrest this insect of mangalore Before he spread the virus
he will get punishment for his mistake,. but why people are so much interested in his life,
Prabhakar Bhat is Like Poojary, No hold for tongue. creating non sense in the society
kalladka bhat dont have any work to go behind this rape case?
Manohar! This is the problem with you guys.. If he says one word against Minorities then he is god for you.. grow up buddy! Before making him god try to understand what type of god he is? Good or bad!
No guts to congress arrest bhat, its 100% sure.. this congress only cheating minoties name of bhat and RSS. they are also blindly supporting Congress.. Above 70% of congress leaders touched with RSS. then how they are arrest
This person actually divides the community with his poisonous speech causing hatred among people.
It is individuals choice how he/she wants to live.
How can he impose Hindutwa on others who has his own principles.
There is a limit for toleration and patience, one day when the limit exceeds, then automatically faces the consequence.
If the law can not protect, then it needs to protect the law and do the justice to all.
Manohar ,
There are many faces who are sheep in front & Fox from behind.. Which u guys are unable to recognize... Go and ask with the Victim. If u personally did not met them. then Dont judge and give certificate of Honesty... A honest person will never give hate speeches..
Now behind Harish Murder ???? who sponsored ??? who is giving bike , car, money and legal protection to Bhajrang dal Boys???
If brain map Mr. Bhat ..... all these stories will come out.
He is the paid goonda from RSS. Its the closing time of bhatta.
Manohar, Bhatta is a stray animal......
will congi govt show guts to teach him lesson? i dont think so bcz most congi leaders are in touch with him
Guilty Must be Punished.
Such dual personality person cant fool people for long
Bhat bajrangi clean bowled....jail term not less then 10 years.....all the best....
The Great RSS!!!!
sabko pap yek din bugathna hoga.
Put him in jail forever, he s one and only person who creates communal dispute in the society.
THU THO GAYA BHAT ISS BAAR...
Must be a trap by congress, Kalladka Bhat is a prominent personality. goons are trying to defame some innocents
Great Personality of Tulu Nadu, This s the Fake news, he s like god to us, he cant make this .
Bhat is a murderer, This type of goons must be sent to pakistan.
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