By PTI Mar 5, 2020 4:11:45 PM IST (Published)
Presenting the state budget for 2020-21 in the Assembly, CM B S Yediyurappa said Karnataka's share in central taxes has come down by Rs 8,887 crore in 2019-20 as per the revised budget estimates of the central government.
Karnataka is facing unprecedented economic difficulties following a Rs 8,887 crore reduction in the state's share in central taxes, cut in allocation under 15th finance commission and a Rs 3,000 crore hit in GST compensation, Chief Minister B S Yediyurappa indicated on Thursday.
Presenting the state budget for 2020-21 in the Assembly, he said Karnataka's share in central taxes has come down by Rs 8,887 crore in 2019-20 as per the revised budget estimates of the central government.
Therefore the state's revenue resources have been reduced.