Karnataka will lose revenue but welcomes GST reforms: CM Siddaramaiah
Bengaluru: Chief Minister Siddaramaiah has said that Karnataka is likely to lose between Rs 15,000 crore and Rs 20,000 crore annually due to the recent reforms in the Goods and Services Tax (GST) system. However, he added that the state government supports the decision in the larger interest of the people.
In a statement issued on Friday, Siddaramaiah welcomed the GST Council’s move to simplify the system, saying it would reduce the burden on taxpayers and traders while cutting down on procedural hurdles. At the same time, he demanded that the Union Government release Karnataka’s rightful share from the GST compensation cess, which is still being collected.
“This is not some new invention of the Narendra Modi government. When the flawed GST was hurriedly introduced by the NDA in 2017, opposition leaders including Rahul Gandhi had already called for essential corrections,” Siddaramaiah said.
He recalled how the Congress had repeatedly warned that the so-called “Gabbar Singh Tax” would ruin small traders by imposing heavy compliance costs and pushing them into financial hardship. “For the last eight years, we kept raising this issue, but the Prime Minister chose to ignore it,” he remarked.
The Chief Minister expressed concern that the GST system leaves states with little power. While the Centre holds one-third of the voting rights, the states together have two-thirds. Any reform requires a three-fourths majority, which gives the Union Government the power to block changes despite opposition from all states, he explained.
According to him, the Modi government has been using this authority to stall reforms for the last eight years. “The Centre’s support for the current reforms is not because of concern for the people, but because of mounting pressure from the states,” Siddaramaiah said.
He further added that if the reforms had been implemented earlier, citizens would not have suffered under the burden of a complicated tax regime. “It is now the responsibility of the Union Government and the Central Board of Indirect Taxes and Customs (CBIC) to ensure that the benefits of these reforms actually reach the people,” he stated.
Siddaramaiah also urged the Centre to prevent traders and companies from misusing the new system for excess profits. He said the state government remains committed to strengthening people’s purchasing power, expanding the tax-paying base, and driving inclusive economic growth so that prosperity is shared by all.
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Real Madrid fines Valverde and Tchouaméni half a million euros each for altercation
Barcelona (AP): Real Madrid slapped players Federico Valverde and Aurélien Tchouaméni with half-a-million-euro ($588,000) fines on Friday for their altercation during practice.
The massive fines came a day after the midfielders tussled when the team trained. Valverde said in a post on social media on Thursday that no punches were thrown. But Valverde knocked his head on a table and he suffered a small cut that required a brief hospital visit.
On social media, Valverde initially called it a “meaningless fight” with a teammate and said “everything has been blown out of proportion."
His employers, however, considered it a significant enough breach of team discipline to nail both Valverde and Tchouaméni with fines that bite even the bank account of a top soccer player. The half-a-million euro penalties reflect the reputational damage the club was enduring in a chaotic end to a disappointing season.
In a statement, the 15-time European champion said its disciplinary action was concluded after both players expressed to the club “their complete remorse for what happened and apologized to one another.”
Madrid added they also apologized to their teammates, the coaching staff and club supporters, as well as showing their willingness to accept whatever disciplinary action the club deemed “opportune.”
Tchouaméni was back training with Madrid on Friday, two days before they play at Barcelona in a clasico. Madrid has to win otherwise Barcelona will be crowned La Liga champion.
After being notified of the fine, he posted a public apology to the club and its fans on social media.
“What happened this week in training is unacceptable,” Tchouaméni wrote. "I say this while thinking about the example we are expected to set for young people, whether in football or at school.
“Above all, I am sorry for the image we projected of the club.”
Valverde was not at practice due to the head knock.
Both players are set to play in the World Cup next month, with Tchouaméni playing for France and Valverde for Uruguay.
Chaotic end to a poor season
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The run-in between the players, who for seasons have played side by side in Madrid's midfield, came after they argued this week in previous training sessions. But tempers boiled over on Thursday. Spanish media was rife with reports that the players previously disagreed over the club's decision to let coach Xabi Alonso go after just months on the job.
It was not the only altercation involving Madrid players during training this week. Álvaro Carreras confirmed he was in a “minor” incident with a teammate. Spanish media said he and fellow defender Antonio Rüdiger got into a scuffle.
Álvaro Arbeloa, the coach who was promoted from Madrid's reserve team when Alonso was fired in January, will face tough questions on what went wrong inside the changing room when he gives a press conference on Saturday ahead of the clasico at Camp Nou.
Madrid is facing a second consecutive campaign without a major trophy amid rumors in the Spanish media that club president Florentino Pérez is considering bringing back Jose Mourinho to straighten out his underperforming team.
