Kerala seeks special financial assistance from Centre
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New Delhi: Kerala on Wednesday sought special financial assistance from the Union government, citing a series of setbacks, including curbs on borrowing and cessation of GST compensation.
This was among various demands raised during state Finance Minister KN Balagopal's meeting with Union Finance Minister Nirmala Sitharaman in the national capital.
In a representation to the minister, Balagopal said effective measures could be initiated by the Union government like an ad hoc borrowing increase of 1 per cent above the ceiling equation for the 2023-24 fiscal, and also requested for extending the GST compensation period.
"Some kind of special financial assistance is also sought in the background of cessation of revenue deficit grant and the declining share of tax in the Finance Commission devolution," it said.
The Goods and Services Tax (GST) compensation ended last year.
Noting that fiscal constraints in 2023-24 will be more than that of previous years, Balagopal said there is a shortage of around Rs 8,400 crore in revenue deficit grants compared to the previous financial year.
There is also a loss of around Rs 10,000 to 12,000 crore by way of GST compensation annually due to the cessation of the compensation, as per the representation.
Further, Balagopal said there is a resource loss of about Rs 8,000 crore on account of restriction in the borrowing limit.
He said the tax share of Kerala in the divisible pool came down to 1.92 per cent during the 15th Finance Commission period, resulting in huge revenue loss.
"As the state recovers from the economic crisis, and is on the path of growth, this fiscal crunch due to the change in the policies of the Union Government will adversely affect the growth," he noted.
Besides, the state has asked the Centre to release pending funds under various schemes.
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Allen, Raghuvanshi, Green power KKR to 29-run win over GT
Kolkata (PTI): Finn Allen blasted a 35-ball 93, while Angkrish Raghuvanshi hit an unbeaten 44-ball 82 as Kolkata Knight Riders kept their playoff hopes alive with a 29-run win over Gujarat Titans in the IPL match here on Saturday.
Sent in to bat, Allen went on a six-hitting spree, smashing 10 maximums and four boundaries to add 95 off 41 balls with Raghuvanshi (82).
Raghuvanshi then shared another 108 off 53 balls with Cameron Green (52 not out) to power KKR to a challenging 247 for 2.
In reply, GT could manage 218-4, riding on skipper Shubman Gill's 49-ball 85 and a 35-ball 57 from Jos Buttler. Opener Sai Sudarsan was retired hurt but returned to make a 28-ball 53 not out.
Sunil Narine (2/29) claimed two wickets and Saurabh Dubey snapped one for KKR.
For GT, Mohammed Siraj (1/50), Sai Kishore (1/38) were the wicket-takers.
Brief Score:
KKR: 247 for 2 in 20 overs (Finn Allen 93, Angkrish Raghuvanshi 82 not out, Camero Green 52 not out; Mohammed Siraj 1/50).
GT: 218 for 4 in 20 overs (Shubman Gill 85, Sunil Narine 2/29).
