‘K’taka to face revenue shortage of Rs 30,000 cr in 2021’

Bengaluru, Dec 31 : Describing 2020 year as “trial by fire” for the government with the onslaught of the pandemic, drought and floods, Karnataka Chief Minister B. S. Yediyurappa on Thursday said that the state was expected to face a revenue shortage of Rs 30,000 crore in 2020-21.

Addressing his customary press conference on the eve of New Year here, Yediyurappa said the state is likely to face a financial setback in the coming fiscal year too, as a ripple effect from the current year’s crisis owing to the pandemic.

Referring to the impact of pandemic on the state and its economy, the Chief Minister, who also holds the finance portfolio said, “We may face a fiscal setback of Rs 25,000 to Rs 30,000 crore and we may have to face this problem in the next budget as well.”

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He added that despite this shortfall the state government will make all out efforts to place emphasis on development of the state including the welfare of farmers, farm labourers, SC/ST community and backward communities, among others.

The Chief Minister described that the year 2020 was nothing short of an “acid test” for the government with the onslaught of the pandemic and floods. “It was a kind of trial by fire with drought, floods, pandemic and all of this led to fiscal setback, but despite all this all efforts are on to fulfill promises made in the budget and I am confident we will bounce back,” he said.

He added that in the last one-and-half years of his administration even for a day he did not lose focus on development of the state and he was focused on his work and development. “Despite the crisis, we have done our best to fulfill all the promises of the state budget 2020-21,” he claimed.

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Observing that his desire and dream was to take Karnataka to the first place in the development map of the country, Yediyurappa said all his cabinet colleagues were collectively working towards achieving the goal.

He further claimed that his government had topped in attracting Foreign Direct Investment (FDI) even during Covid pandemic. “We have approved 95 proposals worth Rs 1.54 lakh crore is testimony to the fact that the state is still attracting big ticket investment,” he said.

Disclaimer: This story is auto-generated from IANS service.

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