Key Points
Thrissur:Kerala gets only Rs 21 for every Rs 100 collected by the state in tax revenue while Uttar Pradesh is getting Rs 46, Finance Minister K.N. Balagopal said Monday as he lashed out at the Centre for curtailing the states share in tax devolution...
Presenting the 2024-25 State Budget, Balagopal said the state attained a record-breaking growth in tax revenue with a rise from Rs 47,661 crore in 2020-21 to Rs 71,968 crore in 2022-23..
The minister added that the state lost tens of thousands of crores due to the decreasing share of the divisible pool of tax collected by the Centre and said the share was reduced from 3.87 percent during the 10th Finance Commission to 1.925 per cent in the 15th Finance Commission...
Keralas borrowing entitlement as per the Centres own criteria has been denied during the fiscal year and the State was allowed to borrow only Rs 28,830 crore against the borrowing limit of Rs 39,626 crore, he said.. Balagopal said the state is hopeful that the legal battle in the Supreme Court and the political agitation outside the court will improve matters...
Days after the Kerala governments announcement, the Congress government in Karnataka too announced that it will hold a protest in New Delhi on 7 February against the Centres step-motherly treatment towards the state in budget and other financial matters...
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