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Karnataka revenues up 20 percent

Bangalore, Oct 19 (IANS) Karnataka, one of the most economically vibrant states in the country, has registered a 20 percent increase in revenues during the first half of the current fiscal to Rs.68.83 billion.

Thursday, October 19, 2006 | 10:51:14 PM IST (+05:30 GMT)
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Bangalore, Oct 19 (IANS) Karnataka, one of the most economically vibrant states in the country, has registered a 20 percent increase in revenues during the first half of the current fiscal to Rs.68.83 billion.

'The enhanced revenue generation signifies the financial health of the state. Reforms in excise licence auctioning and increase in land registration across the state have contributed substantially to the revenue growth,' Deputy Chief Minister B.S. Yediyurappa, who also holds the finance portfolio, told reporters here Thursday.

'The additional revenue generated will be used for funding welfare programmes. We have already started distributing bicycles to schoolgirls belonging to the below poverty line (BPL) families at a cost of Rs.350 million. The scheme will be extended to boys too,' he said.

The state government has released Rs.1.07 billion as seed subsidy to farmers as against Rs.250 million in the last fiscal.

'We are also taking up road improvement works at a cost of Rs.1.1 billion. About Rs.200 million has been released for the Gadag-Bagalkot railway gauge conversion work in north Karnataka,' he added.

Copyright : Indo-Asian News Service
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