FM Sitharaman assured to release Karnataka’s share of funds and pending GST compensation: Bommai

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FM Sitharaman assured to release Karnataka’s share of funds and pending GST compensation: Bommai







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1970-01-01T05: 30: 00 + 0530

Bangalore, July 2 (PTI) Union Finance Minister Nirmala Sitharaman has agreed to release funds as part of Karnataka’s share in central allocation programs in addition to pending GST compensation Karnataka Interior Minister Basavaraj Bommai said on Friday. According to him, Sitharaman assured him that a balance of Rs 11,800 crore of GST would be released. In addition, the Center will provide compensation of Rs 18,000 crore in GST by borrowing from financial institutions.

The state’s interior minister said he also asked Sitharam to release the state’s first installment of the GST collected in the first quarter of the current fiscal year.

The Union Minister is on a two-day visit to Bengaluru where she participated in various events.

On Friday, Bommai called her and submitted the application, after which she assured her that she would release the grants under the central scholarship programs.

Later, in a statement, Bommai said he had had discussions with Sitharaman over the state’s economic situation and various central government plans.

“A request was made to provide financial assistance to the state government under various programs of the Center … Responding positively, Nirmala Sitharaman assured to release Karnataka’s share of funds under the central programs in the earlier, “Bommai said in a statement.

During the meeting, Bommai discussed with Sitharaman the financial arrangements required for handling the coronavirus and a possible third wave of COVID.

“In response, she assured us to ensure that there are no financial obstacles to the management of COVID,” the minister said.

According to Bommai, Sitharaman praised the COVID-19 management of the Karnataka government PTI GMS BN BALA BN BALA


Warning :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI


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