State Guarantee Schemes Drive GST Growth in Karnataka

Boosting GST Collection: Congress Guarantee Schemes

Chief Minister Siddaramaiah has attributed the surge in Goods and Services Tax (GST) collection in Karnataka to the effective implementation of guarantee schemes by the Congress-led state government. Speaking at an event in Chamarajanagar, Mr. Siddaramaiah highlighted that GST collection in Karnataka has seen an 18% increase since the introduction of these guarantee schemes, propelling the state to the top position in GST collection nationwide.

Positive Impact on Economy:

Addressing a gathering of beneficiaries of various state guarantee schemes, Chief Minister Siddaramaiah underscored the positive impact of these initiatives on the state’s economy. He shared accolades received from Dharmasthala Dharmadhikari D. Veerendra Heggade, praising the Shakti scheme for boosting temple visits and subsequently increasing temple revenues. Additionally, he emphasized the financial relief provided to women through the Shakti scheme, enabling them to save money with free travel on KSRTC buses.

Allocation and Beneficiaries:

The state government has allocated approximately ₹36,000 crore towards five key guarantee schemes this year: Shakti, Gruha Jyothi, Gruha Lakshmi, Anna Bhagya, and Yuva Nidhi. These schemes, collectively benefitting around 1.2 crore families comprising 4.6 crore people in Karnataka, provide monthly assistance ranging from ₹4,000 to ₹5,000 per family.

Economic Ripple Effect:

Chief Minister Siddaramaiah emphasized the ripple effect of increased spending power, asserting that it leads to heightened economic activities and subsequently boosts government tax revenues. Despite criticism from the BJP claiming financial strain, the state government remains committed to expanding the scope of guarantee schemes. For the upcoming fiscal year, the government has earmarked ₹57,000 crore for these schemes, in addition to ₹68,000 crore allocated for developmental programs.

Reinforcing Chief Minister’s Position:

In his address, Chief Minister Siddaramaiah also dismissed superstitious beliefs regarding visits to Chamarajanagar, asserting that his visits only reinforce his position as Chief Minister. Furthermore, he cautioned against the BJP’s agenda of amending the Constitution, urging voters to support the Congress, which upholds constitutional values. With these remarks, Chief Minister Siddaramaiah reiterated the significance of state guarantee schemes in not only uplifting the socio-economic status of citizens but also contributing to the overall fiscal health of Karnataka.