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
March 13,2020

Bengaluru, Mar 13: India has registered the first confirmed case of death due to novel coronavirus. A 76-year-old man from Karnataka's Kalaburgi who passed away recently has been tested positive for Covid-19.

The doctors had suspected that the man had coronavirus, however, the test had not confirmed it.

In an official notification, a senior health official in Karnataka government Dr Suresh Shastri said that the lab test has confirmed that the deceased man had Covid-19.

"The 76-year-old man from Kalburgi who passed away and was a suspected COVID 19 patient has been confirmed for COVID 19. The necessary contact tracing, isolation and other measures as per protocol are being carried out. Telangana government has also been informed since he went to a private hospital there," Dr Suresh Shastri said.

The same information was also shared by Karnataka health minister B Sriramulu.

A senior Union health ministry official said in New Delhi that the death of the man had visited Saudi Arabia from January 29 to February 29. The official said the man had reached in Hyderabad on February 29 and went to Kalaburagi in Karnataka.

State Joint Director (Communicable Diseases) BG Prakash Kumar said all protocols were followed for disposal of the body.

"The body is disinfected completely and disposed of as per the Government of India guidelines," he added when asked to elaborate on the protocols.

He said the Telangana government has also been informed as the man had gone to a private hospital in Hyderabad earlier.

While announcing the death of the man on Tuesday, the state authorities had said the exact cause his death was being ascertained.

According to the Union health ministry official, "While he was asymptomatic on his return (from Saudi Arabia), he developed symptoms of fever and cough on 6th March. One private doctor visited him at his home and treated him there."

"On 9th March, the symptoms got aggravated and he was shifted to a private hospital in Kalaburagi. In this private hospital, he was provisionally diagnosed as 'mid-zone viral pneumonia' and 'suspected Covid-19'," the official said.

"The sample was collected on March 9... Without waiting for the test results, the attendees insisted and the patient was discharged against medical advice and the attendees took him to a private hospital in Hyderabad," the official said.

The patient was admitted to a private hospital in Hyderabad and treated. He died on Tuesday when he was being brought back to the Gulbarga Institute of Medical Sciences (GIMS) in Kalaburagi.

Apart from the deceased, Karnataka has confirmed five other positive cases of the novel coronavirus. The fifth case, confirmed on Thursday is of a 26-year-old man who recently returned from Greece.

The patient has been admitted and isolated at a hospital and his condition is stable, a department media bulletin said.

The day also saw the education department declaring summer holidays for students from kindergarten to class six and study leave for higher classes in the city as a precautionary measure.

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coastaldigest.com news network
July 15,2020

Mangaluru, Jul 15: A septuagenarian from Bantwal taluk died due to coronavirus infection at a hospital in the city taking the covid-19 death toll in Dakshina Kannada to 54.

The deceased was a 73-years-old and a resident of Kasaba village in Vittal, Bantwal. Recently eight members of his family were tested positive for covid-19 including his son.

He was admitted to a hospital in Mangaluru where he was tested positive for the virus. He did not respond to the treatment and breathed his last, sources said.

The final rites were carried out by a team of trained activists of Popular Front of India (PFI) at a designated graveyard. All necessary precautions were taken by the authorities concerned and police during the funeral.

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coastaldigest.com news network
July 27,2020

Bengaluru, Jul 27: Karnataka Chief Minister B.S. Yediyurappa, on completion of one year of his government, today said coronavirus hampered his development plans for the state.

He said the state will not see a lockdown again "at any cost".

"Due to coronavirus we couldn't meet people's expectations but now we'll not have lockdown in Karnataka at any cost. In future we're going to fulfill whatever I announced in Budget. If necessary we'll take loans and complete all development work," said Yediyurappa.

"Covid has hampered development plans of Karnataka, lot more needs to be done, i'm committed to providing an able, stable government," he said.

Arrangements were made for virtual celebrations to mark the one-year anniversary of Yediyurappa government at Banquet Hall in Vidhana Soudha in Bengaluru. Social distancing was maintained at the event.

A record 5,199 new COVID-19 cases and 82 deaths were reported from Karnataka on Sunday, the state's health department said.

With this, the total number of coronavirus cases in the state stands at 96,141, including 58,417 active cases and 35,838 recoveries.

So far, 1,878 deaths have been reported from Karnataka. Karnataka is the only state to have over 50,000 active cases with overall tally below 1 lakh.

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