India News
Despite a Rs 5,300 crore allocation in the previous year's budget by the Centre, CM Siddaramaiah said that not a single rupee has been released for the Upper Bhadra Scheme.
The Karnataka government sought Rs 17,901 crore in compensation from the Centre. However, despite an actual crop damage cost of Rs 35,000 crore, no relief has been provided.
Siddaramaiah points out a decrease in Karnataka's tax share from 4.71% to 3.64% between the 14th and 15th Finance Commissions, resulting in a staggering Rs 62,098 crore loss.
Despite being a substantial tax contributor, Karnataka only receives Rs 12-13 out of every Rs 100 in taxes, contributing Rs 4,30,000 crore annually.
Siddaramaiah emphasizes the pending environmental clearances and permissions for the Mahadayi and Mekedatu projects.
A reduction in tax share coupled with increasing cess and surcharge creates an unjust scenario, resulting in a missed opportunity of Rs 73,593 crore for various projects.