Ktk`s financial position is sound, says CM

Karnataka Chief Minister DV Sadananda Gowda on Saturday said that the financial position of the state "is very sound".

Last Updated: Nov 05, 2011, 17:32 PM IST

Bangalore: Karnataka Chief Minister D V Sadananda
Gowda on Saturday said that the financial position of the state "is
very sound" and revenue collection in the last seven months in
four key sectors has registered a 22 per cent increase.

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 December one and two aimed at
attracting Rs 50,000 crore investments, he said.

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

PTI