Federation of Karnataka Chambers of Commerce and Industry welcomes govt stimulus to boost demand

News Network
October 13, 2020

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Bengaluru, Oct 12: Expressing his happiness on the measures to stimulate consumer spending announced by Union Finance Minister Nirmala Sitharaman, Federation of Karnataka Chambers of Commerce and Industry (FKCCI) President Perikal M Sundar said that the move will enhance the purchasing power of the consumer and invigorate the retail sector economy.

In a statement, Sundar said that the one-time disbursement of Special Festival Advance Scheme will bring a surge in the government revenue through GST.

"The one-time disbursement of Special Festival Advance Scheme is expected to amount to Rs.4,000 crore. If given by all state governments, another Rs.8,000 crore is expected to be disbursed. Employees can spend this on any festival which will enhance the purchasing power of the consumer and invigorate the retail sector economy and thereby facilitate a surge in the government revenue through GST," he said.

The FKCCI President stated that the Special Festival Advance Scheme which was meant for non-gazetted government employees is being revived as a one-time measure, for gazetted employees too.

Talking about the LTC Cash Voucher Scheme, Sundar said that the government employees can opt to receive cash amounting to leave encashment plus three-time tickets fare to buy something of their choice.

"The government employees can opt to receive cash amounting to leave encashment plus three-time tickets fare to buy something of their choice under the LTC Cash Voucher Scheme. Only digital payment mode is accepted and employees should produce the GST invoice to get the benefit," he said.

Trying to give a boost to the plummeting economy, Finance Minister Nirmala Sitharaman on Monday announced two proposals -- Leave Travel Concession (LTC) Cash Voucher Scheme and Special Festival Advance Scheme -- to stimulate consumer demand.

Sitharaman said there are indications that savings of government and organised sector employees have increased, "We want to incentivise such people to boost demand for the benefit of the less fortunate. We are presenting two proposals -- the Leave Travel Concession (LTC) Cash Voucher Scheme and Special Festival Advance Scheme -- to stimulate consumer spending."

Finance Minister said under the LTC Cash Voucher Scheme, government employees can opt to receive cash amounting to leave encashment plus three times ticket fare, to buy items, which attract GST of 12 per cent or more. "Only digital transactions are allowed, GST invoice has to be produced," she said.

The Special Festival Advance Scheme for non-gazetted employees is being revived as a one-time measure, for gazetted employees too, Finance Minister said.

"All the central government employees can now get an interest-free advance of Rs 10,000, in the form of a prepaid RuPay Card, to be spent by March 31, 2021," she said.

The interest-free advance of Rs 10,000 under the Special Festival Advance Scheme to be paid back in 10 instalments.

"The one-time disbursement of Special Festival Advance Scheme is expected to amount to Rs 4,000 crore. If it is given by all state governments, another Rs 8,000 crore is expected to be disbursed Employees can spend this on any festival," she added.

Finance Minister Nirmala Sitharaman will chair 43rd Goods and Services Tax (GST) Council meeting through video conferenceing later in the day.

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News Network
January 7,2025

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Mangaluru: A tragic road accident claimed the life of a young medical store owner on Monday, January 6, near Tiblapadavu, Natekallu, located on the outskirts of the city.

The victim, identified as 25-year-old Ausaf, was the proprietor of Hajira Medicals and the son of Jaleel, a resident of Derlakatte. 

The unfortunate incident unfolded as Ausaf was riding his bike from Derlakatte toward Tiblapadavu. Upon approaching a divider near Tiblapadavu, a lorry made a sudden turn, resulting in a collision between the motorbike and the rear of the lorry. Ausaf succumbed to his injuries on the spot.

Having completed his education a few years ago, Ausaf had taken up the responsibility of managing Hajira Medicals at Derlakatte Junction. He was well-known in his community for his dedication and service.

Authorities at the Mangaluru South Traffic Police Station have registered a case, and CCTV footage capturing the incident is under review. The tragic loss has left the local community in shock, mourning the untimely demise of a promising young entrepreneur. 

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News Network
January 8,2025

Bengaluru: In a sweeping anti-corruption operation, the Karnataka Lokayukta conducted simultaneous raids on the properties of eight government officials across eight districts on Wednesday. The raids, part of ongoing investigations into disproportionate assets cases, targeted over 20 locations linked to these officials.

According to Lokayukta sources, the coordinated operation spanned Bengaluru, Mandya, Bidar, Belagavi, Tumakuru, Gadag, Ballari, and Raichur. Properties of the following officials were under scrutiny:

Shobha – Joint Commissioner, Bengaluru Transport Department

S. N. Umesh – Health and Family Welfare Officer, Kadur

Ravindra – Inspector, Minor Irrigation and Groundwater Development Sub-Division, Bidar

Prakash Sridhar Gaikwad – Tahsildar, Khanapur

S. Raju – Retired RTO Officer, Tumakuru

Huchesh alias Huchappa – Assistant Executive Engineer, Gadag Municipality

R. H. Lokesh – Welfare Officer, Backward Class Department, Ballari

Huliraja – Junior Engineer (Electric), Raichur

Lokayukta officials are thoroughly examining documents, assets, cash, and other valuables found during the raids.

This operation is the Lokayukta’s first major crackdown in 2025. Notably, on December 12, the watchdog had unearthed disproportionate assets worth Rs 48.55 crore in raids on properties belonging to 10 government officials.

The Lokayukta’s intensified efforts signal its commitment to curbing corruption and ensuring accountability among government officials.

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News Network
January 4,2025

Mangaluru: Dakshina Kannada MP Captain Brijesh Chowta met Union Home Minister Amit Shah in New Delhi on Friday to discuss key issues affecting the security and development of the region. The meeting highlighted several urgent concerns, ranging from counter-terrorism measures to infrastructure upgrades.

During the meeting, Chowta strongly advocated for establishing a National Investigation Agency (NIA) Centre in Mangaluru. He pointed out the city’s vulnerability to threats such as Islamic radicalisation, sleeper cells, and the activities of groups like SDPI and PFI. Citing the unrest during the Citizenship Amendment Act (CAA) protests, Chowta emphasized the ability of radical groups to incite large-scale disruptions. He argued that Mangaluru’s strategic coastal location necessitates an NIA Centre to bolster counter-terrorism operations and ensure regional security.

Chowta also discussed the Indian Coast Guard Academy, sanctioned for Mangaluru in 2020. He highlighted its potential to enhance India’s maritime security through advanced training in coastal defence, disaster response, and surveillance. Situated near the Arabian Sea and Mangalore Port, the academy is strategically positioned to address challenges in regions like Lakshadweep and the Maldives, aligning with India’s geostrategic interests.

The MP proposed the establishment of a Sainik School in Mangaluru to nurture leadership, discipline, and patriotism among local youth. He emphasized that such an institution would not only provide quality education but also act as a feeder for the armed forces, enhancing the region’s defence readiness. Chowta suggested pairing the school with a military installation, further strengthening coastal defence capabilities and supporting national security goals.

Addressing infrastructure, Chowta underscored the need to improve the Mangaluru-Bengaluru railway and road networks. He argued that enhanced connectivity would unlock the region’s economic potential, streamline logistics for New Mangalore Port, and support key industries such as fisheries, agriculture, and manufacturing. Additionally, upgraded infrastructure would boost trade, tourism, and employment opportunities.

On economic development, Chowta urged the revival of cooperative banks under the Ministry of Cooperatives. He proposed increased funding and loan facilities for businesses and farmers to enhance financial inclusion and regional economic stability. Strengthening fisheries cooperatives, he noted, would provide local fishermen with better access to financial services, loans, and insurance, improving productivity and security.

The MP’s discussions reflected a comprehensive vision for balancing security, infrastructure, and economic growth in Dakshina Kannada, aligning with both regional and national priorities.

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