Karnataka CM Slams Centre Over 58 Percent Cut in Nabard Farm Loans
1 month ago

Karnataka CM Slams Centre Over 58 Percent Cut in Nabard Farm Loans

Deccan Chronicle  

Bengaluru: Expressing displeasure over the attitude of Bharatiya Janata Party led Central Government over drastic cut in loans from National Bank for Agriculture and Rural Development to Karnataka, Chief Minister Siddaramaiah on Monday pointed out loans from NABARD came down to Rs 2, 340 crore this year while it was Rs 5, 600 crore the previous year. Regarding the cut in loans to farmers from NABARD, Chief Minister told reporters in Bengaluru that he in a letter to Prime Minister Narendra Modi and Union Finance Minister Niramala Sitaraman asked not to cut the loans to farmers from NABARD which will be ‘injustice’ and ‘betrayal’ of farmers trust. He wanted the BJP-led Central Government to emulate Karnataka in disbursement of farm loans and stated the Karnataka Government offers farm loans interest-free loans up to Rs 5 lakh and charges 3 percent interest for farm loans availed between Rs 10-15 lakh. The Chief Minister also referred to the ‘injustice’ to Karnataka in tax share from Central Government, Siddaramaiah stated Karnataka collects about Rs 4.5 lakh crore as taxes to Central Government and in return, the State receives about Rs 60,000 crore.

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Cut in NABARD funding to hit interest-free loans in Karnataka
1 month ago

Cut in NABARD funding to hit interest-free loans in Karnataka

New Indian Express  

BENGALURU: The reduction in the National Bank for Agriculture and Rural Development funding to Karnataka this year would impact interest-free loans provided to farmers. Cooperation Minister KN Rajanna said Karnataka got Rs 2,340 crore, which is over 58 per cent less than last year’s Rs 5,600 crore. Rajanna and Agriculture Minister N Chaluvarayaswamy urged the Centre to direct the NABARD …

Nirmala terms Karnataka govt.’s attack on Centre about funds as ‘false and misleading’
8 months, 4 weeks ago

Nirmala terms Karnataka govt.’s attack on Centre about funds as ‘false and misleading’

The Hindu  

Terming the Karnataka government’s attack on the Centre on funding as “completely false and misleading”, Union Finance Minister Nirmala Sitharaman on Sunday said the devolution to the State and the Centre’s grants in aid had increased while GST compensation had been completely paid. So do they acknowledge that what was received was not part of Finance Commission’s recommendation?” On the …

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 …

Karnataka Budget 2023: Interest Free Loan For Farmers Hiked To Rs 5 Lakh
1 year, 10 months ago

Karnataka Budget 2023: Interest Free Loan For Farmers Hiked To Rs 5 Lakh

News 18  

Karnataka CM Basavaraj Bommai proposed to hike the interest-free loan for farmers to Rs 5 lakh from existing Rs 3 lakh while presenting the state budget 2023-24 on Friday. The increased loan amount will directly help more than 30 lakh farmers in the state and a total amount to the tune of Rs 25,000 crore is estimated to be disbursed. …

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