Thaindian News

Bangalore, May 31 (IANS) On completion of three years in office by the first Bharatiya Janata Party (BJP) in Karnataka, Chief Minister B.S. Yeddyurappa Tuesday said the financial position and resource mobilisation in the state was sound.

“The financial position of the state, which has improved due to consistent resource mobilisation efforts, has been acknowledged by the Reserve Bank of India (RBI) and the Planning Commission. Our aim is to take Karnataka to the forefront among the developed states in the country over the next two years,” Yeddyurappa told reporters here.

Releasing a booklet listing the achievements of his government during the last three years since the BJP came to power in 2008, he said that revenue increased by 19 percent to Rs.58,541 crore in last fiscal 2010-11, from Rs.49,156 crore in fiscal 2009-10.

The resource mobilisation includes Rs.22,767 crore from commercial taxes, registering 27 percent increase year-on-year (YoY), Rs.8,268 crore from excise (19 percent YoY) and Rs.2,688 crore from motor vehicle tax (37 percent YoY).

Collection from stamps and registration also went up 36 percent YoY to Rs.3.568 crore.

“The 27 percent growth in commercial taxes by our state was ahead of 26 percent by Maharashtra, 25 percent by Tamil Nadu and 23 percent each by Andhra Pradesh and Kerala,” said Yeddyurappa, who also holds the finance portfolio.

Noting that the state government had achieved all the financial targets set for fiscal 2010-11, the chief minister said the total plan achievement, including the internal and extra budgetary resources at Rs.31,750 crore was 18 percent higher than the previous fiscal (2009-10).

An upbeat Yeddyurappa also said that the state was the first in India to unveil a ‘Vision 2020′ document for comprehensive development and thereby provide a model for the country.

“Karnataka is the first state in the country to present a separate agriculture budget for this fiscal (2011-12) to the tune of Rs.17,000 crore and providing farmers short-term loans from cooperative societies and state-run banks at the lowest interest rate of one percent per annum,” Yeddyurappa said.

Admitting that the state was facing a whopping energy deficit of 2,500 mega watts due to lack of farsightedness of the previous governments ruled by the Congress and the Janata Dal-Secular (JD-S), the chief minister said the demand for power was ever increasing.

“To meet the growing demand, which has shot up to 39,774 million units in 2010-11 from 36,118 million units in 2009-10, we have been purchasing power (1,300 mw) daily from private producers. We have also taken up new projects to increase the generation capacity by 1,000 mw in the next three years,” Yeddyurappa added.