Karnataka's financial position is sound, says CM

Karnataka's financial position is sound, says CM

Dismissing opposition parties' remarks on the financial health of the state as "far from truth", he said while tax revenue collection in commercial taxes witnessed a 24 per cent growth, it was 16 per cent in state excise, 32 per cent in Stamps and Registration and seven per cent in Motor Vehicle departments.

Presenting the performance card for the seven-month period in the 2011-12 financial year in the backdrop of opposition parties accusing the government of facing finance cruch to meet development and drought relief expenses, Gowda at a press conference here said the tax collection in four departments has touched Rs 25,137 crore, up by 22 per cent compared to Rs 20,648 crore during the same period last year.

When compared to budget estimates of Rs 42,475 crore, actual collection from four major taxes in the first seven months itself has reached 59 per cent of the annual budget estimates, he said.

Gowda also reeled out figures on release of funds on major schemes including Rs 1329 crore for social security pension as against the budget estimates of Rs 1742 crore, Rs 200 crore for Bhagyalakshmi child insurance scheme as against the earmarked outlay of Rs 408 crore, Rs 9871 crore grants to Panchayat Raj Institutions, Rs 400 crore for Suvarna grama and Rs 474 crore towards Suvarna Bhoomi project.

Preparations were in full swing for the first ever Global Agri-Investors meet slated for Decemeber one and two aimed at attracting Rs 50,000 crore investment, he said.

Road shows would be held in New Delhi on November eight and in Mumbai on November 15, he said.

The government has released Rs 225 crore out of Rs 300 crore set apart for interest subsidy on crop loan, Rs 200 crore for MLA local area development scheme, Rs 1196 crore for PWD managed road works and Rs 341 crore for rural road works, Gowda said.

He said steps were being initiated to manage the drought situation in 99 taluks and so far Rs 55 crore has been spent. "There is no fund scarcity for relief measaures", he declared.

Out of the targeted area of sowing of 74.65 lakh hecates, so far sowing has been done in 69.15 lakh hectares in this khariff season and crops in an area of 15.17 lakh hectares have suffered due to deficient moisture, he said.

The value of crop loss has been estimated to be around Rs 2,830.71 crore, he said, adding, the state would request the Centre to provide suitable compensation towards crop loss.

Karnataka is launching today a facility to register the properlty documents from any of the Sub-Registrar offices of Bangalore Registration district. The facility would be extended across the state later, he said.

The government would amend in the next six months, the Indian Registration Act to allow the citizens to do their registrtion of properties from anywhere in Karnataka, he said.

Registration of properties online would also be allowed by amending the act, he said.

Under Asare housing scheme, 43,439 houses have been completed out of the proposed 59,134, Gowda said.