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 19,2025

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The planned ceasefire agreement between the Palestinian Hamas resistance group and Israel has taken effect after deadly strikes by the usurping regime on the Gaza Strip.

The truce deal was set to begin at 8:30 a.m. local time (06:30 GMT) on Sunday to end the 15-month-long Israeli genocidal war on the besieged territory but was delayed for almost three hours. It finally went into effect at 11:15 a.m. local time.

Earlier in the day, the Israeli military said that it continued to carry out attacks on Gaza as Hamas had not provided a list of captives to be released under the ceasefire.

Israeli army spokesman Rear Admiral Daniel Hagari said in a televised statement that the regime’s military “continues to strike within the Gaza area at this time. According to the prime minister’s directives, the ceasefire will not come into effect until Hamas fulfills its commitments.”

He echoed an earlier statement from prime minister Benjamin Netanyahu, who ordered the occupation’s military not to implement the Gaza truce until Hamas issues the names of the Israeli captives to be released.

Meanwhile, Hamas said the delay in handing over the names of the captives is due to “technical and field reasons.”

In a statement issued on Telegram, the resistance group reaffirmed its commitment to the terms of the ceasefire agreement.

Afterwards, Hamas provided a list of the three Israeli captives to be freed later on Sunday.

13 Palestinians killed during ceasefire delay

Gaza’s Civil Defense said 13 people have been killed and more than 30 others injured in the Israeli bombing of Gaza on Sunday morning during the nearly three-hour delay in the start of the ceasefire.

Gaza’s Government Media Office announced that it had begun deploying thousands of Palestinian police officers tasked with maintaining security and order in the blockaded territory.

“Ministries and government institutions are fully prepared to begin work according to the government plan [and] to implement all measures that ensure life returns to normal as soon as possible,” it added.

Israel unleashed its brutal Gaza onslaught on October 7, 2023, after Hamas carried out a historic operation against the occupying entity in retaliation for its intensified atrocities against the Palestinian people.

However, the Tel Aviv regime failed to achieve its declared objectives of freeing captives and eliminating Hamas despite killing nearly 47,000 Palestinians, mostly women and children, in Gaza.

Earlier this week, Israel was forced to agree to a ceasefire, accepting Hamas' longstanding negotiation terms.

The ceasefire deal consists of three phases, each lasting 42 days. Negotiations for the second and third phases will begin 16 days after the implementation of the first phase. 

The first phase will see the release of some 1,900 Palestinian abductees in exchange for 33 Israeli captives held in Gaza. It also requires Israeli occupation forces to begin withdrawing from the Philadelphi corridor - also known as the Salah al-Din axis - on the Gaza-Egypt border.

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News Network
January 6,2025

Bengaluru: An eight-month old baby has been detected with the human metapneumovirus (HMPV) in a Bengaluru hospital on Monday, with reports going viral online. This is likely the first reported case of HMPV in the country after the recent spike in China.

The baby is reportedly undergoing treatment in a private hospital in northern Bengaluru.

The Karnataka state health department has maintained that there is no cause for concern.

"We don't know what strain of virus is spreading in China. Without knowing that, we cannot say that this reported case is concerning. We have been reviewing all influenza-like illnesses (ILIs) from December to check for any strain that is concerning. There is no such concerning spike across the state or country," said a well-placed source in the state health department.

The HMPV is a known virus (first discovered in 2001) that causes respiratory symptoms similar to that of a common cold, largely affecting children below the age of five. It is not a new virus.

Cases have been reported in the past, especially in the winter season, note experts and health department officials, making it not an immediate concern, unless an unusual spike is observed.

In December 2024, 714 suspected cases of HMPV were tested in 16 Virus Research and Diagnostic Laboratories (VRDLs) across the country, of which only nine were confirmed positive.

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News Network
January 16,2025

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Mumbai: In a shocking incident that has shaken Mumbai, actor Saif Ali Khan was stabbed six times in his residence in Bandra, one of the city’s most affluent areas. Sources in the police revealed that the attacker is suspected to have ties to one of the house helps, who reportedly facilitated the intruder's entry into the actor’s home. The house help is currently under police questioning.

The 54-year-old actor, who sustained one stab wound dangerously close to his spine, underwent surgery at Lilavati Hospital and is now reportedly out of danger.

Mumbai Police, under scrutiny after the audacious attack, stated, "An unidentified person intruded in the residence of actor Saif Ali Khan. The actor and the intruder had a scuffle. The actor is injured and is being treated. Investigation is going on."

CCTV footage at the actor’s residence did not show any unauthorized entry in the two hours leading up to the incident, leading investigators to believe that the attacker had gained access earlier and was waiting for the right moment to strike. Efforts are underway to identify the culprit from available CCTV footage.

Opposition Slams Government on Law and Order

The attack has sparked widespread criticism of Maharashtra’s law and order situation, with the Opposition targeting Chief Minister Devendra Fadnavis and his government. Shiv Sena (UBT) MP Priyanka Chaturvedi questioned Mumbai’s safety standards, particularly in Bandra, an area known for its high concentration of celebrities.

“What a shame that Mumbai sees another high-profile attack. The incident involving Saif Ali Khan raises serious questions about the safety provided by Mumbai Police and the Home Minister,” said Ms. Chaturvedi. She also referenced the murder of veteran politician Baba Siddique and the firing outside actor Salman Khan's home, calling it a series of deliberate attacks aimed at undermining Mumbai’s security.

“Baba Siddique’s family is still waiting for justice. Salman Khan lives in a bulletproof house. Now Saif Ali Khan is attacked—all in Bandra. If celebrities aren’t safe, who in Mumbai is? Wishing Saif Ali Khan a speedy recovery,” she added.

Celebrities Demand Action

Actor Pooja Bhatt also expressed her outrage over the incident, calling for increased police presence in Bandra. Taking to social media platform X, the 52-year-old actor demanded immediate action from authorities, tagging Maharashtra Chief Minister Devendra Fadnavis, his deputies Eknath Shinde and Ajit Pawar, and minister Ashish Shelar.

“Can this lawlessness please be curbed @MumbaiPolice @CPMumbaiPolice? We need more police presence in Bandra. The city, especially the queen of the suburbs, has never felt so unsafe before,” Bhatt tweeted. She further emphasized, “We have laws, but what about order?”

The incident has not only highlighted glaring security lapses in Mumbai but has also intensified the ongoing debate about the safety of both celebrities and ordinary citizens in India’s financial capital. Investigations are ongoing as the police work to apprehend the attacker and restore confidence in the city's safety.

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