Karnataka govt`s financial status very sound: Governor
Karnataka government`s financial status is sound, with tax revenue among the highest in the country, doubling in the last five years, Governor HR Bhardwaj said on Monday.
Bangalore: Karnataka government`s financial status is sound, with tax revenue among the highest in the country, doubling in the last five years, Governor HR Bhardwaj said on Monday.
Stating that the financial status has been very good, he told the joint session of the legislature on the opening day of the Budget Session in his customary address, "Fiscal deficit and public debt have been within the targets prescribed by the Central government and the 13th Finance Commission".
Over the last five years, the tax revenues of the state have more than doubled. Tax revenue is 10 per cent of GSDP and per-capita plan expenditure is Rs 6810, both among the highest in the country, he said. The Plan size has increased by two and a half times over the last five years.
Inspite of deficit rainfall, annual food grain production is 125 lakh tonnes, higher than last year`s 118 lakh tonnes.
Bhardwaj said a centre of good governance is being constituted and a compendium of citizen-centric innovations has been brought about to replicate success stories. The state has crossed transactions amounting to Rs 1,63,000 crore through e-procurement, leading to a saving of ten per cent to state exchequer.
Maintenance of land records is being modernised through scanning and digitisation, in order to ensure that individual`s property title is protected, the Governor said in his 25-minute address.
Noting that first phase of Bangalore Metro project has already been commissioned, Bhardwaj said another 10.5 km between Peenya and Malleswaram would be operational in June this year. Approval of 72 kms long phase-2 costing Rs 26,405 crore is on the cards.
In order to reduce global warming, generation through renewable energy sources is emphasised, he said. So far 1913 mw of renewable energy projects are commissioned.