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

News Network
September 2, 2020
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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.

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News Network
January 9,2025

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Who will be the next captain of the Indian cricket team? After India's 1-3 loss in the Border-Gavaskar Trophy, this question has become the hottest topic in Indian cricket circles. Current skipper Rohit Sharma, despite stepping aside for the final Test, has confidently declared that he is not stepping down as captain. However, with India not playing another Test until June (in England), questions loom over whether the BCCI selectors will retain Rohit for the next World Test Championship cycle.

Amid the debate, former Indian cricketer Mohammad Kaif has cautioned against appointing star pacer Jasprit Bumrah as the full-time captain. Kaif emphasized that Bumrah’s primary focus should remain on taking wickets and maintaining his fitness. “BCCI should think twice before appointing Bumrah as a full-time captain. He needs to solely focus on taking wickets and staying fit. Added leadership responsibility and heat-of-the-moment decisions can lead to injuries and shorten an outstanding career. Don’t kill the golden goose,” Kaif posted on X (formerly Twitter).

However, legendary Indian batter Sunil Gavaskar has offered a contrasting perspective. Gavaskar recently expressed confidence in Bumrah’s ability to lead the Indian Test team in the near future. Speaking on Channel Seven, Gavaskar praised Bumrah’s calm demeanor and leadership qualities. “He will be the next man because he leads from the front. He has an aura of leadership but doesn’t pressurize players. Some captains put undue pressure on their teammates, but Bumrah allows others to perform their roles without micromanagement,” Gavaskar remarked.

Bumrah showcased his leadership skills during the Border-Gavaskar Trophy, where he captained India in two Tests, including the series-opening match in Perth, which India lost by 295 runs. Despite the series defeat, Bumrah’s individual performance stood out. He claimed 32 wickets in five matches at an impressive average of 13.06 and a strike rate of 28.37, earning him the Player of the Series award.

Gavaskar highlighted Bumrah’s brilliant handling of the fast-bowling unit, often seen guiding them from mid-off or mid-on. “With the fast bowlers, he’s been absolutely brilliant. He’s always at hand to provide advice without overwhelming them. I wouldn’t be surprised if he takes over the captaincy very soon,” Gavaskar added.

India’s bowling attack, however, suffered in crucial moments during the series. In the Sydney Test, Bumrah’s absence in the fourth innings due to a back spasm proved costly. India was defending a modest target of 162 but lacked the firepower to challenge Australia’s batting lineup. Gavaskar lamented Bumrah’s unavailability, noting the impact he could have had. “What a difference it would have made if Bumrah was available to bowl in that final innings. Even an early spell of four or five overs could have turned the match in India’s favor,” he observed.

As India gears up for its next phase in Test cricket, the debate over captaincy intensifies. While some caution against burdening Bumrah with added responsibility, others see his leadership as a natural progression for the team’s future.

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News Network
January 8,2025

Mangaluru: Air India Express (AIE) has postponed its much-anticipated direct flight service between Mangaluru International Airport (MIA) and Singapore, citing low bookings. Passengers who had booked tickets for the inaugural flight scheduled for January 21 and subsequent dates have been notified of the cancellation through email.

In its email, AIE assured passengers of alternative travel arrangements, including connecting flight options between MIA and Singapore. However, the decision to delay the direct service has left travelers and travel agents disappointed.

An AIE official attributed the postponement to operational challenges but clarified that the airline has not abandoned plans for the route. “We are committed to starting the service, but there is no immediate confirmation on the new launch date,” the official stated. He further explained that sustaining a route requires consistent demand, and seasonal travel alone is insufficient to justify operations.

Another AIE representative admitted that the number of bookings for the inaugural flight was below expectations but declined to disclose specific figures.

Rajesh H Acharya, director of HQ Connections Pte Ltd in Singapore and coordinator of the Singapore Tuluver community, expressed his disappointment. Acharya, who has been advocating for a direct flight between Mangaluru and Singapore since 2017, said, “After years of effort, we finally convinced the airline to start this service, but it has now been deferred.”

Taking to X (formerly Twitter), Acharya posted: "Did not expect such behavior from @AirIndiaX, now owned by @TataCompanies & @SIAirlines. If there are issues, travelers deserve to be informed well in advance. This decision needs investigation at the highest level."

The delay has raised questions among the travel community, with many hoping the airline will address these concerns and provide a clear timeline for the launch of the Mangaluru-Singapore direct flight.

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News Network
January 15,2025

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Another Palestinian journalist has been killed in an Israeli attack in the Gaza Strip, taking the death toll to 205 since early October 2023 when the occupying Tel Aviv regime launched its all-out onslaught against the blockaded coastal sliver.

Local organizations identified the new victim as Ahlam al-Nafed, who recently reported from the besieged Indonesian Hospital in northern Gaza for Drop Site News and other media outlets.

She was killed on Tuesday as she was walking to al-Shifa Hospital – the largest medical complex and central hospital in the Gaza Strip, and located in the neighborhood of northern Rimal in Gaza City.

“For the past 100 days, Ahlam chronicled the genocide in northern Gaza, capturing evidence of Israeli war crimes from the besieged Indonesian Hospital.

“Through her words and images, she ensured that atrocities which might have been silenced were brought to light, allowing the world to witness the brutal reality unfolding there,” Drop Site News wrote in a statement published on its X account on Tuesday.

It underlined that Ahlam’s work documenting the attacks on the Indonesian Hospital was irreplaceable.

“She was one of the last remaining voices in northern Gaza — a voice the world desperately needed. Without her, the full extent of Israel’s actions might never have been known,” the statement also read.

For its part, the Indonesian Hospital said, “Ahlam courageously documented the genocide in north Gaza, residing in the medical facility during its siege, taking evidence of war crimes and bearing witness to tell the story with her pictures and her words, many of which we shared with you.”

Journalists working within the Palestinian territory face heightened risks while covering the genocidal war, particularly in light of Israeli ground assaults and airstrikes, as well as challenges such as disrupted communications, shortages of supplies, and power outages.

In the face of these difficulties, Palestinian journalists have continued to document the atrocities of the war, acting as the global community's eyes and ears throughout one of the most deadly wars of the 21st century.

Backed by the United States and its Western allies, Israel launched the war on Gaza on October 7, 2023, after the Palestinian resistance movement Hamas carried out Operation Al-Aqsa Flood against the Israeli regime in response to its decades-long campaign of oppression against Palestinians.

The regime’s bloody onslaught on Gaza has so far killed at least 46,645 Palestinians, mostly women and children, and injured 110,012 others. Thousands more are also missing and presumed dead under rubble.

On November 21 last year, the International Criminal Court (ICC) issued arrest warrants for Israeli prime minister Benjamin Netanyahu and former minister of military affairs Yoav Gallant for war crimes and crimes against humanity in Gaza.

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