News Karnataka
Wednesday, October 05 2022

Bengaluru: ‘State expected to generate more revenue in 2022-2023’

Photo Credit : IANS

Bengaluru: The State is expected to generate more revenue in 2022 – 2023 than expected due to the recovery of the economy following the COVID – 19 pandemic said Chief minister Basavaraj Bommai to the Legislative Assembly on Thursday September 22.

While leading the supplementary estimates in the Legislative Assembly, the Chief Minister, who also holds the Finance portfolio said “Post-COVID economic recovery is ongoing. Previous year we performed better than expected and in the last six months too, as the trend continued, there has been additional revenue collection,” he added.

He claimed that in the past six months, the State has got Rs 8,633 Crore in GST compensation.

“With the Central Government’s revenue collection being strong, the State’s share from the Centre is likely to rise. Based on the last six months’ trend, we are likely to exceed the target, ” he added.

“In addition, Bommai stated that Rs 14,015 Crore in GST compensation is pending, of which Rs 8,633 has already come. The State has also claimed an additional Rs 6,000 Crore, which is expected soon after the Centre’s audit of the accounts,” he noted.

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