Karnataka faces financial crunch as debt zooms 255% in fiscal 2018-19

News Network
September 23, 2020
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Kumaraswamy

Bengaluru, Sep 23: Karnataka is facing a financial crunch, evident from a record 255 per cent increase in its net debt for fiscal 2018-19, an official said on Wednesday while citing a Comptroller and Auditor General (CAG) report.

"In its state finance audit report, the CAG red-flagged that Karnataka's net debt was Rs 17,766 crore in 2018-19 financial year, a whopping increase of 255 per cent over the 2017-18 fiscal," said the report, which was tabled in the state legislature on Tuesday.

A 6-day Monsoon Session of the legislature began on Monday after it was delayed due to the Covid-induced lockdown and surging virus cases across the southern state.

To meet the growing expenditure, the previous Janata Dal-Secular (JD-S)-Congress coalition government borrowed heavily -- 55 per cent of the debt from the open market, 27 per cent from public account, 6 per cent from national social security fund and 5 per cent from the central government.

A fractured verdict in the May 2018 Assembly elections forced the outgoing Congress to ally with the JD-S to form the coalition government, with HD Kumaraswamy appointed the Chief Minister on May 23, 2018.

The resignation by 17 rebel legislators, including 14 from the Congress and 3 from the JD-S in July 2019, however, led to the fall of the 14-month-old coalition government on July 26, 2019 after Kumaraswamy lost the trust vote in the Assembly for want of a simple majority.

Holding the finance portfolio, Kumaraswamy presented two Budgets in July 2018 for fiscal 2018-19 and February 2019 for fiscal 2019-20.

The CAG found that an expenditure of Rs 2,901 crore was wrongly classified by oversight, while the supplementary provision of Rs 1,319 crore was unwarranted.

"The total provision for the fiscal under review was Rs 2.45 lakh crore and expenditure Rs 2.2 lakh crore, while Rs 25,139 crore remained unspent," said the report.

Reappropriation of funds in 27 cases was not judicious, resulting in excess provision.

Noting that the Supplementary Budget was also not properly assessed to be fiscally neutral, the report said it failed to curtail expenditure.

The report advised the BJP government to ensure adjustment of abstract contingent bills in the stipulated time.

"The tax revenue growth rate decreased to 11.13 per cent in 2018-19 from 12.1 per cent in 2014-15," the report added.

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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 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.

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News Network
January 4,2025

Mangaluru: In a shocking case of fraud, six individuals posing as officials from the Enforcement Directorate (ED) swindled a beedi businessman of Rs 25 to 30 lakh in cash and five mobile phones at Kolnad in Bantwal taluk of Dakshina Kannada on Friday night.

The incident came to light after Mohammed Iqbal, 27, lodged a complaint with the police, stating that his father, a beedi trader, was targeted by the imposters.

According to the complaint, the six accused arrived at the businessman’s residence around 8:10 pm in a car with Tamil Nadu registration plates. Claiming to be ED officials, they announced that they had orders to search the house and began confiscating mobile phones from the family members.

The fraudsters reportedly discovered Rs 25 lakh to Rs 30 lakh in cash, which the businessman had kept aside for business purposes. They claimed that keeping such a large amount was illegal and threatened to arrest him unless he complied. By 10:30 pm, the group left the house, instructing the businessman to submit documents at the ED office in Bengaluru to reclaim the money.

Later, upon discussing the incident with his family, Iqbal realized that the individuals were not ED officials but fraudsters who had impersonated authorities to rob them.

A case has been registered at Vittal Police Station under relevant sections of the Indian Penal Code. An investigation is underway, and the police have promised swift action to apprehend the culprits.

Dakshina Kannada Superintendent of Police Yathish N, along with senior officers, visited the crime scene and assured the family that the perpetrators would be brought to justice at the earliest.

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