Work together to address southern states’ tax concerns
10 months, 2 weeks ago

Work together to address southern states’ tax concerns

New Indian Express  

When Karnataka Chief Minister Siddaramaiah leads the ‘Chalo Delhi’ protest at Jantar Mantar in New Delhi today to highlight the “injustice” meted out to the southern states over their share of taxes, he hopes to transform it into a ‘South Tax Movement’. On this, Siddaramaiah has the support of the chief ministers of Kerala, Telangana and Tamil Nadu, who have closed ranks to claim that the southern states must preserve fiscal federalism. Tamil Nadu CM M K Stalin has pledged support and accused the Centre of misusing its powers to “stifle” the states’ development. The current tax share is formulated by the 15th Finance Commission—while all of the state GST goes to the states, the central GST is pooled by the Centre and 41 percent of it is divided among the states; this formula is periodically reviewed.

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History of this topic

Share of central taxes to states should be hiked to 50%: Stalin
1 month ago

Share of central taxes to states should be hiked to 50%: Stalin

Hindustan Times  

The Union government’s share of central taxes to states should be increased to 50% to ensure greater fiscal autonomy, chief minister MK Stalin said during a meeting with the 16th finance commission members in Chennai on Monday. “I hope that the Commission will make recommendations that will address the needs and aspirations of all states in India and enable the …

CM Stalin Seeks 50 Percent Tax Share for States, Cites Financial Strain
1 month ago

CM Stalin Seeks 50 Percent Tax Share for States, Cites Financial Strain

Deccan Chronicle  

Chennai:Appealing for a 50 per cent share of the taxes collected by the Union Government to all the States, in an equitable fashion, and for an allocation of additional funds to better performing States, including Tamil Nadu, to ensure the overall development of the nation, Chief Minister M K Stalin said the lowering of fund allocation had come as a …

Stalin demands 50% share of central taxes for Tamil Nadu, cites financial burden
1 month ago

Stalin demands 50% share of central taxes for Tamil Nadu, cites financial burden

India Today  

Tamil Nadu Chief Minister MK Stalin on Monday called for an increase in the state’s share of central taxes to 50%, citing concerns over reduced devolution of funds and mounting financial burdens due to centrally- Speaking to the Chairman and members of the 16th Finance Commission at the Secretariat in Chennai, Stalin emphasised the need for a revised fiscal framework …

Tamil Nadu’s own tax revenue grew 14% in H1, 2024-25: CAG
1 month, 2 weeks ago

Tamil Nadu’s own tax revenue grew 14% in H1, 2024-25: CAG

The Hindu  

Tamil Nadu’s Own Tax Revenue grew about 14% to ₹86,975.28 crore in the first half of fiscal 2024-25 from ₹76,257.13 crore in the first half of 2023-24, according to the provisional figures from the Comptroller and Auditor-General. Among the SOTR components, the State Goods and Services Tax collection grew 20.12% to ₹35,414.05 crore in the first half of 2024-25 from …

BJP's 40% Commission Drained Karnataka's Resources, Leaving State in Debt and Undermining Development
1 month, 3 weeks ago

BJP's 40% Commission Drained Karnataka's Resources, Leaving State in Debt and Undermining Development

Hindustan Times  

Karnataka Chief Minister Siddaramaiah has expressed his deep disappointment over Prime Minister Narendra Modi's 'empty' promises and the 40% commission corruption within the BJP Karnataka unit. He claims that the party has failed to fulfill its promises to the state, leaving Karnataka to suffer under a heavy debt burden. Modi, on the other hand, has defended his policies and highlighted …

Karnataka's Fair Share of Tax Revenue: Siddaramaiah's Call to Action
Trending News
1 month, 3 weeks ago

Karnataka's Fair Share of Tax Revenue: Siddaramaiah's Call to Action

Hindustan Times  

Karnataka Chief Minister Siddaramaiah calls for greater fairness in the distribution of central taxes. He argues that the state contributes over ₹400,000 crore in taxes, yet receives only ₹55,000 crore to ₹60,000 crore in return. He urges Karnataka's members of Parliament to bring the issue of fiscal inequity to national attention, urging them to press the government for fairer treatment. …

Karnataka Tax Collection: Chief Minister Warns Officials of Missed Targets
1 month, 3 weeks ago

Karnataka Tax Collection: Chief Minister Warns Officials of Missed Targets

India Today  

Karnataka Chief Minister Siddaramaiah has issued a warning to government officials, emphasizing the importance of meeting tax collection targets. The state has set a target of Rs 1,10,000 crore for commercial tax collection for the financial year 2024-25, and as of October, Rs 58,773 crore has been collected. The state has achieved 53.5% of its target so far, but it …

Implement SCSP/TSP Act at national level, Karnataka CM Siddaramaiah tells Modi
2 months, 3 weeks ago

Implement SCSP/TSP Act at national level, Karnataka CM Siddaramaiah tells Modi

New Indian Express  

BENGALURU: With Prime Minister Narendra Modi alleging a scam in SC/ST funds in Karnataka, Chief Minister Siddaramaiah refuted the charges and urged PM Narendra Modi to implement the Scheduled Caste Sub-Plan and Scheduled Tribe Sub-Plan Act at the national level, to allocate funds proportionate to the Dalit population. “It is ridiculous that Narendra Modi, who has not agreed to implement …

No friction between Centre-states on GST, federal structure should be respected: Nirmala Sitharaman
3 months, 2 weeks ago

No friction between Centre-states on GST, federal structure should be respected: Nirmala Sitharaman

Deccan Chronicle  

Chennai: Union Finance Minister Nirmala Sitharaman on Thursday denied any "friction" in the ties between the Centre and States over Goods and Services Tax and emphasised that the federal structure in this economic reform should be respected. Addressing a meeting on "The Finance Minister's Insight: Path Forward" held under the aegis of the Revenue Bar Association here, she said the …

Finance Commission open to revising Karnataka's tax devolution criteria
3 months, 3 weeks ago

Finance Commission open to revising Karnataka's tax devolution criteria

New Indian Express  

BENGALURU: The 16th Finance Commission on Thursday said that it is open to considering the Karnataka government’s suggestion on rejudging the criterion with regard to devolution of taxes to the states, but the final decision is “far away”. Commission chairman Dr Arvind Panagariya said Karnataka has submitted a proposal stating that the 45% weightage given to the distance of per …

Medak MP Praises Finance Bill for Tax Transparency, Criticizes State Govt
4 months, 2 weeks ago

Medak MP Praises Finance Bill for Tax Transparency, Criticizes State Govt

Deccan Chronicle  

Hyderabad: Medak MP M. Raghunandan Rao lauded the Finance Bill saying that the government had brought in transparency in the income-tax and other sections of the administration and this has resulted in an increase in the number of taxpayers. The Centre is sharing 42 per cent of funds with the state governments.” He further said the BRS government did not …

BJP slams Siddaramaiah government in Karnataka for diverting SC
5 months, 2 weeks ago

BJP slams Siddaramaiah government in Karnataka for diverting SC

Op India  

The Congress government in Karnataka recently decided that it will utilise funds meant for the SC/ST communities to implement the five guarantee schemes it had promised during the assembly elections. Self-proclaimed champion of Social Justice CM @siddaramaiah avare, you looted the ₹187 crore Dalit's money in Valmiki ST welfare board, now… pic.twitter.com/0farmJKGSA — R. Ashoka July 6, 2024 R Ashoka …

Taxes should be shared appropriately with states: Karnataka CM Siddaramaiah
5 months, 3 weeks ago

Taxes should be shared appropriately with states: Karnataka CM Siddaramaiah

Hindustan Times  

Karnataka Chief Minister Siddaramaiah on Monday emphasised on distribution of the net proceeds of taxes to be shared between the Centre and the States, and the allocation between the States of the respective shares of such proceeds. Explaining that GST is an indirect tax, the CM said that before GST was introduced, the Government of Karnataka collected taxes through VAT. …

Centre must share taxes fairly with states: CM Siddaramaiah
5 months, 3 weeks ago

Centre must share taxes fairly with states: CM Siddaramaiah

New Indian Express  

BENGALURU: Chief Minister Siddaramaiah on Monday said the Centre should share taxes appropriately and proportionately with the states. Inaugurating the GST Day programme organised by the Commercial Taxes Department here, he said, “GST is an indirect tax and before it was introduced, the state government collected Value-Added Tax. There is an outcry now as states are not getting their fair …

Southern Lights | Karnataka Congress’ internecine strife spills out into the open
5 months, 3 weeks ago

Southern Lights | Karnataka Congress’ internecine strife spills out into the open

Hindustan Times  

The Congress’ poor show in Karnataka during the general elections and the lack of accountability despite a growing clamour for correcting lapses are at the heart of the demand for multiple deputy chief ministers in the state, party leaders have said. The Congress scored a measly nine out of twenty-eight Lok Sabha seats in the state as opposed to the …

Karnataka Chief Minister defends fuel price hike: 'Will ensure funding for...'
6 months, 1 week ago

Karnataka Chief Minister defends fuel price hike: 'Will ensure funding for...'

India Today  

Karnataka Chief Minister Siddaramaiah on Sunday justified the petrol and diesel price hike in the state, highlighting the state's "reduced revenue", and said it would ensure funding for essential public services and development projects. Defending the decision, the Chief Minister said, “The Government of Karnataka has increased VAT on petrol to 29.84% and on diesel to 18.44%. We remain committed …

BJP leader Basavaraj Bommai criticizes Karnataka state budget, warns of economic downturn
10 months ago

BJP leader Basavaraj Bommai criticizes Karnataka state budget, warns of economic downturn

Hindustan Times  

In a scathing critique of Chief Minister Siddaramaiah's 15th budget presentation, BJP leader and Former Chief Minister Basavaraj Bommai expressed concerns over the fiscal direction of the state, asserting that "Development is not possible from Dasoha without Kayaka". Bommai also raised concerns about the government's borrowing practices, stating that despite borrowing ₹1.5 lakh crore, only ₹1,000 crore was allocated for …

‘Centre should not try to weaken states’: Karnataka CM Siddaramaiah
10 months ago

‘Centre should not try to weaken states’: Karnataka CM Siddaramaiah

Hindustan Times  

Karnataka Chief Minister Siddaramaiah on Wednesday said that a country is secure only if the states are secure, adding that the Centre should not try to weaken the states. Replying to the debate on the Governor's speech in the Legislative Council, Chief Minister Siddaramaiah said," Our constitution has designed that we will have a federal system. READ | 'Anti-Hindu': BJP …

A Budget for the people of T.N. in the present times, says TNCC president K. Selvaperunthagai
10 months ago

A Budget for the people of T.N. in the present times, says TNCC president K. Selvaperunthagai

The Hindu  

Tamil Nadu Congress Committee president K. Selvaperunthagai on Monday said that the Tamil Nadu Finance Minister Thangam Thennarasu has presented a Budget for ‘the people of Tamil Nadu in the present times. Looking at this Budget, it is clear that even though Union Government may have denied tax revnues meant for the State, the government’s budget has shown that people …

BJP Government Did Not Rectify Injustice Meted out To Karnataka Alleges CM In His Budget
10 months, 1 week ago

BJP Government Did Not Rectify Injustice Meted out To Karnataka Alleges CM In His Budget

Deccan Chronicle  

Bengaluru: Chief Minister Siddaramaiah pointed out that Central Government led by Bharatiya Janata Party had meted out three injustices to States including Karnataka such as “unscientific” implementation of Goods and Services Tax, increase in Cesses and Surcharges and change in allocation of formula in tax devolution and grants-in-aid, adversely affected the financial strength of the State. Siddaramaiah accused the previous …

Siddaramaiah presents Budget for 15th time in Karnataka
10 months, 1 week ago

Siddaramaiah presents Budget for 15th time in Karnataka

Deccan Chronicle  

BENGALURU: Chief Minister Siddaramaiah on Friday presented State budget 2024-25 which was his 15th budget presentation in his political career and in the budget presented the Chief Minister holding Finance ministry, stated that the total expenditure for the financial year is estimated to be Rs 3, 71, 383 crore which includes Revenue expenditure of Rs 2, 90, 531 crore, capital …

Union Minister Pralhad Joshi Says Karnataka Got More From NDA Then UPA
10 months, 1 week ago

Union Minister Pralhad Joshi Says Karnataka Got More From NDA Then UPA

Deccan Chronicle  

Bengaluru: In response to the ruling Congress government accusations of “injustice” in tax devolution and in release of grants to Karnataka by the Bharatiya Janata Party led Central Government, Union Minister for Parliamentary Affairs Pralhad Joshi on Tuesday furnished details on contributions of Central Government to Karnataka under Prime Minister Narendra Modi from 2014 to till date and stated that …

Inside the Centre vs states battle over funds
10 months, 2 weeks ago

Inside the Centre vs states battle over funds

Hindustan Times  

Karnataka protested against the Centre on Wednesday, claiming it was not getting its fair share of taxes, which crimps its ability to do good for the state, and Kerala and Tamil Nadu have similar protests lined up in Delhi in the coming days, as the fractures in India’s fiscal federalist framework become more marked. Of the shortfall of ₹1.65 lakh …

No discrimination in tax sharing with States: FM Nirmala Sitharaman
10 months, 2 weeks ago

No discrimination in tax sharing with States: FM Nirmala Sitharaman

The Hindu  

Union Finance Minister Nirmala Sitharaman on Wednesday sought to dismiss allegations that the Centre was not giving money to the States and termed the Karnataka government’s charges about inadequate tax devolutions and discrimination in sharing Central taxes “patently wrong and mischievous”. Noting that even Tamil Nadu had voiced concerns, the Minister assured the House that the government had followed the …

Siddarmaiah DK Shivakumar Rights Karnataka Congress Leaders Protest Centre Injustice New Delhi
10 months, 2 weeks ago

Siddarmaiah DK Shivakumar Rights Karnataka Congress Leaders Protest Centre Injustice New Delhi

ABP News  

Karnataka CM Siddaramaiah and Deputy CM DK Shivakumar along with other Karnataka Congress leaders held a protest against the Centre over the alleged 'injustice' against the state at Jantar Mantar in New Delhi on Wednesday. Karnataka Congress Protest: Top Points During the protest at Delhi's Jantar Mantar, Karnataka CM Siddaramaiah said, "Karnataka is number two as far as tax collection …

‘We are asking for our rights’: Karnataka CM, Deputy CM lead protest in Delhi
10 months, 2 weeks ago

‘We are asking for our rights’: Karnataka CM, Deputy CM lead protest in Delhi

Hindustan Times  

Karnataka Chief Minister Siddaramaiah, Deputy CM DK Shivakumar and other senior party leaders on Wednesday held a protest against the Central leadership in Delhi's Jantar Mantar over funds, reduced tax devolution and unfair resource distribution to the state. Karnataka Deputy Chief Minister DK Shivakumar during a protest by the Karnataka state Congress leaders against the centre, at Jantar Mantar, in …

'Drama…': Former CM Yediyurappa criticizes Karnataka Congress-led protest in Delhi
10 months, 2 weeks ago

'Drama…': Former CM Yediyurappa criticizes Karnataka Congress-led protest in Delhi

Hindustan Times  

Former Karnataka Chief Minister and BJP leader BS Yediyurappa criticized the ruling Congress government in the state for staging a protest in Delhi on Wednesday against the Centre's alleged financial injustice to Karnataka, stating that the Congress had no reason to protest and was merely attempting to create drama ahead of the upcoming elections. Meanwhile, Karnataka Chief Minister Siddaramaiah on …

CM Siddaramaiah, DCM DK Shivakumar arrive in Delhi, gear up to protest against Centre over tax devolution
10 months, 2 weeks ago

CM Siddaramaiah, DCM DK Shivakumar arrive in Delhi, gear up to protest against Centre over tax devolution

Hindustan Times  

Karnataka Chief Minister Siddaramaiah and Deputy Chief Minister DK Shivakumar along with other officials including state Home Minister G Parameshwara on Tuesday arrived in the national capital ahead of the ‘Chalo Delhi’ protest set to be held today. Karnataka Chief Minister Siddaramaiah arrives in Delhi to hold the 'Chalo Delhi' protest at Jantar Mantar on Wednesday. The leaders reached Delhi …

‘Siddaramaiah raking up North-South divide is a typical characteristic of Cong leaders’: Amit Malviya
10 months, 2 weeks ago

‘Siddaramaiah raking up North-South divide is a typical characteristic of Cong leaders’: Amit Malviya

Hindustan Times  

BJP's IT cell in charge Amit Malviya on Tuesday hit out at Karnataka Chief Minister Siddaramaiah for raking up the North-South divide and said it was a typical characteristic of Congress leaders, who are trusted allies of the ‘Tukde Tukde’ gang. Taking to the micro-blogging site 'X', Malviya said Siddaramaiah should examine the funds Bengaluru gets versus the regions like …

'Chalo Delhi': Karnataka CM Siddaramaiah decries tax inequality during protest at Jantar Mantar | WATCH
10 months, 2 weeks ago

'Chalo Delhi': Karnataka CM Siddaramaiah decries tax inequality during protest at Jantar Mantar | WATCH

India TV News  

Karnataka ministers and Congress MLAs initiated a protest at Delhi's Jantar Mantar on Wednesday, accusing the Centre of unfair treatment regarding tax devolution and grants-in-aid to the state over recent years. CM Siddaramaiah's stand Addressing the gathering, CM Siddaramaiah emphasised the collective stand of Karnataka's ministers, MLAs, and MLCs against what they perceive as the Centre's failure to meet Karnataka's …

135 Karnataka MLAs, Congress leaders to stage protest against Centre in Delhi
10 months, 2 weeks ago

135 Karnataka MLAs, Congress leaders to stage protest against Centre in Delhi

Hindustan Times  

Chief minister Siddaramaiah on Tuesday announced that MLAs and MPs from the state will stage a protest in New Delhi on Wednesday against the central government’s tax devolution policies, according to an official letter. Karnataka chief minister Siddaramaiah with state deputy chief minister DK Shivakumar, state home minister G Parameshwara, Congress general secretary Randeep Surjewala and others during the party …

‘Is Finance Commission merely facade under BJP’: Karnataka CM Siddaramaiah
10 months, 2 weeks ago

‘Is Finance Commission merely facade under BJP’: Karnataka CM Siddaramaiah

Hindustan Times  

Karnataka Chief Minister Siddaramaiah has hit out at the Central government over the release of funds for the state, saying that the dwindling grants-in-aid and the glaring absence of budgeted funds raise the question of whether the autonomy of the Finance Commission is merely a 'facade' under the BJP. Siddaramaiah further said that under the 14th Finance Commission, Karnataka received …

Will stage stir in Delhi against Centre’s injustice on Feb 7: Siddaramaiah
10 months, 2 weeks ago

Will stage stir in Delhi against Centre’s injustice on Feb 7: Siddaramaiah

Hindustan Times  

Chief minister Siddaramaiah announced on Monday that the state government, along with all MPs and MLAs, will protest in New Delhi on Wednesday against the “injustice” by the Centre to the state in tax devolution and grants-in-aid. CM Siddaramaiah and deputy CM DK Shivakumar address a joint press conference on budget “On February 7, all the ministers, MPs and all …

K'taka lost ₹1.87 lakh crore during 15th Finance Commission: CM Siddaramaiah
10 months, 2 weeks ago

K'taka lost ₹1.87 lakh crore during 15th Finance Commission: CM Siddaramaiah

Hindustan Times  

Stepping up the attack on the NDA government over the issue of tax devolution, Karnataka Chief Minister Siddaramaiah on Monday said the state has incurred a total loss of ₹1.87 lakh crore during five years under the 15th finance commission due to declining Central grants and urged that they be set right. Pointing out at the federal structure of the …

'Politically-vitiated narrative': Sitharaman on allegations of fund discrimination to some states
10 months, 2 weeks ago

'Politically-vitiated narrative': Sitharaman on allegations of fund discrimination to some states

Hindustan Times  

Union Finance Minister Nirmala Sitharaman on Monday came down heavily on allegations that the Centre is withholding funds meant for non-BJP governed states, saying it is a "politically-vitiated narrative" that "vested interests" are happy to go about saying. Replying to a question by Congress leader Adhir Ranjan Chowdhury in the Lok Sabha on the Karnataka government's claim that the Centre …

‘Karnataka faces loss of ₹45K cr over reduced tax devolution’: CM Siddaramaiah
10 months, 2 weeks ago

‘Karnataka faces loss of ₹45K cr over reduced tax devolution’: CM Siddaramaiah

Hindustan Times  

Karnataka Chief Minister Siddaramaiah on Sunday alleged “injustice” to the southern state by the Central leadership over a reduction in tax devolution, which he claimed has given way to a loss of more than ₹45,000 crore to the state in the last four years. In this light, CM Siddaramaiah said the taxes paid by the people of Karnataka were not …

Tamil Nadu to get higher amount as share of Central taxes
10 months, 3 weeks ago

Tamil Nadu to get higher amount as share of Central taxes

The Hindu  

February 01, 2024 07:29 pm | Updated 07:29 pm IST - CHENNAI Tamil Nadu would get ₹44,760.83 crore as its share of Central taxes as per the revised Union Budget estimates for 2023-24, presented by Finance Minister Nirmala Sitharaman on Thursday. As per the revised Union Budget estimates for 2023-24, after some adjustments made for previous years, Tamil Nadu would …

The Hindu continues to peddle the North-South divide based on lies peddled by Communist Party leader and JNU prof: 15th Finance Commission report and the truth
1 year, 2 months ago

The Hindu continues to peddle the North-South divide based on lies peddled by Communist Party leader and JNU prof: 15th Finance Commission report and the truth

Op India  

Just about 15 days back, The Hindu published an article on an imaginary North-South divide and we had given a detailed rebuttal to it. KCR’s son, KTR, for example, claims that while Telangana paid 3.68 lakh crores to the central government, it only got back 1.68 lakh crores in return. In this particular example, the INR 3.68 lakh crores is …

Are southern States being punished for their success? | The Hindu Parley podcast
1 year, 2 months ago

Are southern States being punished for their success? | The Hindu Parley podcast

The Hindu  

A week ago, Tamil Nadu Finance Minister Thangam Thennarasu accused the Union government of showing a “step-motherly attitude” towards the State over devolution of funds. Around at the same time, at a media conclave, Thiruvananthapuram Lok Sabha MP Shashi Tharoor spoke about the potential danger of political disenfranchisement in the south when the delimitation freeze ends in 2026. These statements …

Why federalism in India is more an aspiration than a reality
1 year, 3 months ago

Why federalism in India is more an aspiration than a reality

New Indian Express  

The Centre now transfers 41% to the states from its divisible tax pool as against 32% earlier. While previous finance commissions used the 1971 population as the benchmark to decide the share of the states, the 15th Finance Commission went by the 2011 Census data. Many states, mostly in the South, objected to this as they felt the changed parameters …

Kumaraswamy accuses Karnataka govt of corruption
1 year, 5 months ago

Kumaraswamy accuses Karnataka govt of corruption

Hindustan Times  

Bengaluru Former chief minister and Janata Dal JD leader HD Kumaraswamy on Monday alleged rampant corruption in the Congress government, and said officials in chief minister Siddaramaiah’s office were demanding money for transfers. Kumaraswamy alleged that Tahsildar Ajit Rai who was suspended recently after the Lokayukta raid, had paid ₹ 3 crore to get a posting in the previous government …

Measures to make T.N. revenue-neutral to be keenly watched
1 year, 9 months ago

Measures to make T.N. revenue-neutral to be keenly watched

The Hindu  

Apart from the anticipation of an announcement on the monthly honorarium of ₹1,000 for women family heads, measures to achieve the goal of making the State revenue-neutral in three years would be keenly watched in the Tamil Nadu Budget for 2023-24 to be presented by Finance Minister Palanivel Thiaga Rajan on Monday. As per the provisional figures of the Comptroller …

Friction over fiscal federalism: Why do some States get more money from the Centre?
1 year, 9 months ago

Friction over fiscal federalism: Why do some States get more money from the Centre?

The Hindu  

For every one rupee that Tamil Nadu gives the Centre, it gets back 29 paise. Click to remove AMP mode The Centre’s tax collections are pooled-in from States and a part of it is distributed among them, based on the Finance Commission’s formula. In an event in Chennai, Union Finance Minister Nirmala Sitharaman said, “If every State thinks I am …

Revamp of Kerala State GST department completed
1 year, 11 months ago

Revamp of Kerala State GST department completed

The Hindu  

Chief Minister Pinarayi Vijayan on Thursday said that an attempt was being made to create the impression that Kerala was heavily dependent on financial assistance from the Centre. Announcing the completion of the reorganisation of the State Goods and Services Tax department, Mr. Vijayan said the Central share accounted for only 36% of the State’s revenue. Reorganisation of taxes department …

Finance Commission decides distribution of net tax revenue to states: Nirmala
2 years, 3 months ago

Finance Commission decides distribution of net tax revenue to states: Nirmala

Deccan Chronicle  

HYDERABAD: Union finance minister Nirmala Sitharaman on Saturday slammed the Telangana government for claiming that taxes paid by the state were driving development elsewhere in the country and that the state was not getting recognition on this front. The distribution of net tax revenues among the states was decided by the Finance Commission based on a devolution formula and not …

Why Tamil Nadu is staring at an economic crisis
3 years, 4 months ago

Why Tamil Nadu is staring at an economic crisis

India Today  

To say that Tamil Nadu’s fiscal situation is dire is just exposing the tip of the iceberg that Palanivel Thiaga Rajan, investment banker turned finance and human resources minister, unveiled in his white paper on August 9. The public debt is Rs 263,976 per family in Tamil Nadu, PTR emphasised, explaining why the state can’t delay recasting its financial planning …

Karnataka Budget: No Burden of Additional Taxes on Common People, Says CM Yediyurappa
3 years, 9 months ago

Karnataka Budget: No Burden of Additional Taxes on Common People, Says CM Yediyurappa

News 18  

Karnataka Chief Minister B S Yediyurappa presenting the state budget 2021-22 on Monday, said he has not put the burden of additional taxes on the common people. Presenting the Budget 2021-22 in the legislative Assembly, he said, the state government levies Karnataka Sales Tax on petrol and diesel and it is already lesser compared to the other southern states. “Despite …

Centre to transfer second tranche of funds to states to meet GST shortfall
4 years, 1 month ago

Centre to transfer second tranche of funds to states to meet GST shortfall

Live Mint  

New Delhi: The central government said it release ₹6,000 crore to 16 states and three union territories on Monday under the special borrowing arrangement meant to meet states’ Goods and Services Tax revenue shortfall. So far, 21 states and three union territories have opted for the borrowing scheme to meet their GST revenue shortfall. States like Kerala, Punjab and West …

GST Compensation Due to States Stands at Rs 1.51 Lakh Crore, Maharashtra Leads: Anurag Singh Thakur
4 years, 3 months ago

GST Compensation Due to States Stands at Rs 1.51 Lakh Crore, Maharashtra Leads: Anurag Singh Thakur

News 18  

The GST collection during April-August declined on account of COVID-19 induced lockdown, and the compensation due to states stands at over Rs 1.51 lakh crore, Minister of State for Finance Anurag Singh Thakur said on Monday. The provisional GST compensation due to states/UTs for 2020-21 was highest for Maharashtra at Rs 22,485 crore, followed by Karnataka, Uttar Pradesh, Gujarat and …

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