Karnataka govt helplessly chooses Centre's Option 1: 'Borrowing to make up for GST loss'

News Network
September 2, 2020
Image
Yediyurappa

Bengaluru, Sept 2: The BJP-ruled Karnataka today said it has decided to opt for the first among the two options offered by the Central government for borrowing to meet the shortfall in GST revenues, under which the state will be eligible for a total compensation of ₹ 18,289 crore.
The decision was taken by Chief Minister BS Yediyurappa, who also holds the finance portfolio, after a meeting with Finance officials.
Following the GST council meeting last week, the central government had written to states, suggesting options of borrowing money to make up for the ₹ 2.35 lakh crore shortfall in GST revenues expected in the ongoing fiscal. The Centre has estimated that of this amount, ₹ 97,000 crore compensation requirement is due to GST roll out and the remaining is on account of the COVID-19 impact on the economy.
Giving two options, the Centre had said states can borrow either ₹ 97,000 crore the deficit arising out of GST implementation or the entire ₹ 2.35 lakh crore.
Several non-BJP ruled states have rejected the Centre's suggestion of states borrowing to make up for the GST shortfall, saying the constitutional liability lies with the Union government.
"After the evaluating both these options, it is felt that option 1 would be more beneficial to the state's finances," official release from the Chief Minister's Office said.
The Chief Minister's Office noted that under option 1, Karnataka would be eligible for total compensation of ₹ 18,289 crore, of which ₹ 6,965 crore would come from the cess collected. For the balance of ₹ 11,324 crore, the state would be able to borrow through a special window with the burden of principal and interest repayment being met out of compensation cess fund in the future, it said.
"Further an additional borrowing up to 1 per cent of GSDP (Rs 18,036 crore) will be available unconditionally and another 1 percent borrowing can be linked to certain reforms as earlier suggested by Government of India," it said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 7,2025

firewestbank.jpg

Israeli settlers shielded by the occupation troops have stormed several villages in the West Bank, setting Palestinian homes, farms and vehicles on fire.

Palestinian media reported that the violent settler attacks took place on Monday night in the villages of Turmus Ayya, Tuqu', Hajjah, Fara'ata, al-Funduq and Immatain.

Prior to the raids, far-right Israeli social media groups had posted messages calling on members to join in on rampages against Palestinian villages.

The attacks took place although Israeli rights groups had demanded preventative actions by the regime's authorities.

“Once again, the army is doing nothing to prevent settler violence. This time, too, the writing was on the wall, and notices calling for riots in the villages were distributed publicly among settlers,” the Yesh Din right group said.

Settler violence has escalated significantly since October 7, 2023, when Israel unleashed a genocidal war on the Gaza Strip.

So far, the Tel Aviv regime has killed at least 45,854 Palestinians, mostly women and children, and injured 109,139 others, in its brutal Gaza onslaught. 

Israel confiscates more Palestinian land

Separately on Monday, the Wafa news agency reported that Israeli authorities had seized 262,000 square meters of Palestinian land in Jaba’, al-Ram, Kafr 'Aqab, and Mukhmas, all situated in the al-Quds governorate.

Israeli human rights organization Ir Amim said that the occupying regime is seeking to annex the confiscated area to the illegal Geva Binyamin settlement.

More than 600,000 Israelis live in over 230 settlements built since the 1967 Israeli occupation of the West Bank and East al-Quds.

While all Israeli settlements are illegal under international law, Israel keeps expanding them in blatant violation of United Nations Security Council resolutions.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 14,2025

Udupi: Karnataka Kreedakoota-2025, a sports event organised by the Youth Empowerment and Sports Department, Karnataka Olympic Association, and the District Administration, will be held in Udupi and Dakshina Kannada districts from January 17 to January 23.

The event will feature 1,373 athletes participating in a variety of sports, including kayaking, canoeing, archery, cycling, wrestling, boxing, hockey, lawn tennis, table tennis, Kabaddi, Judo, and athletics.

Deputy Commissioner Vidya Kumari K addressed a press conference on Monday, providing details about the events in Udupi and Dakshina Kannada.

According to her, while volleyball, basketball, and swimming competitions will take place in Dakshina Kannada, events like kayaking and canoeing will be held in Brahmavara’s Swarna River, and archery will take place at the MJC Ground in Manipal.

Marena Sports Complex in Manipal will host lawn tennis and table tennis matches, she added.

The opening ceremony will take place on January 17 in Mangaluru and Chief Minister Siddaramaiah will be inaugurating the event.

The closing ceremony will be held in Udupi on January 23, with Governor Thaawarchand Gehlot and Home Minister G Parameshwar attending.

The district administration, in collaboration with Manipal Academy of Higher Education (MAHE), Manipal, has made provisions for accommodation and food for the participants, said the DC.

She also said the synthetic track at the Mahatma Gandhi District Stadium in Ajjarakad is undergoing repair work after its 10-year durability period ended in 2023, to provide athletes better infrastructure.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 6,2025

Two cases of Human Metapneumovirus (HMPV) were reported in Bengaluru on January 6 - a 3-month-old baby who has been discharged and an 8-month-old who is recovering at a hospital in the Karnataka capital. This marks the first reported cases of HMPV in India.

The infected infants and their families have no recent travel history, ruling out exposure from other regions or countries, the health department said.

HMPV is a respiratory virus that often causes mild symptoms resembling a cold but can lead to other complications, particularly in infants, the elderly, and those with weakened immune systems. The virus can occasionally trigger pneumonia or exacerbate chronic respiratory conditions. Cases typically rise during the winter and early spring.

The Centre announced on Sunday that it is monitoring HMPV and other respiratory viruses, especially following recent reports of increased respiratory illnesses in China. A Joint Monitoring Group (JMG) convened on January 4 to evaluate the situation, with representatives from the World Health Organisation (WHO), National Centre for Disease Control (NCDC), Indian Council of Medical Research (ICMR), and other health organisations participating.

Respiratory illnesses in China align with seasonal variations caused by viruses such as influenza, RSV, and HMPV. Current surveillance data from India does not indicate any unusual surge in respiratory infections, according to the Ministry of Health and Family Welfare.

As a precaution, the Centre has increased laboratory capacity for HMPV testing. The ICMR will monitor HMPV trends throughout the year, alongside other respiratory illnesses such as influenza-like illness (ILI) and severe acute respiratory infections (SARI). A robust network of surveillance systems, including those operated by ICMR and the Integrated Disease Surveillance Programme (IDSP), continues to track respiratory infections across the country.

Hospitals have been advised to strengthen isolation protocols for suspected cases, ensure the availability of essential medicines, and promptly report ILI and SARI cases through the Integrated Health Information Platform (IHIP).

Precautions to Take:

To reduce the risk of HMPV infection, individuals are advised to:

  • Wash hands frequently with soap and water for at least 20 seconds.
  • Avoid close contact with people who have respiratory symptoms.
  • Wear masks in crowded or high-risk areas, especially during seasonal outbreaks.
  • Maintain good indoor ventilation by keeping windows open when possible.
  • Disinfect commonly touched surfaces regularly, such as doorknobs, toys, and tables.
  • Monitor infants, the elderly, and people with chronic illnesses for symptoms like persistent cough or breathing difficulties.
  • Seek prompt medical attention if respiratory symptoms worsen or persist. 

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.