Siddaramaiah challenges Sitharaman’s claim on disbursal of recommended grants
In a robust response to the Finance Minister Nirmala Sitharaman’s denial of recommended grants for Karnataka, Chief Minister Siddaramaiah reiterated the state's demand for its rightful share as recommended by the 15th Finance Commission (15 FC).
Expressing deep concern over the Finance Ministry's refusal to acknowledge the recommended allocations, Siddaramaiah emphasized the significance of adhering to federal principles enshrined in the Constitution.
Addressing the issue through his social media platform, Siddaramaiah highlighted the interim report of the 15 FC for the fiscal year 2020-21, which sanctioned significant sums for Karnataka, Telangana, and Mizoram. He emphasized that these grants were not bestowed out of favoritism but to ensure equitable distribution among states, safeguarding against a decrease in their share of devolution compared to the previous year.
Siddaramaiah further shed light on the final report of the 15 FC, which recommended substantial funds for Karnataka, including allocations for water body revival and infrastructure projects like the Peripheral Ring Road for Bengaluru. However, he lamented the Ministry of Finance's rejection of these recommendations, thereby depriving Karnataka of its rightful share.
ALSO READ: FM Nirmala Sitharaman rubbishes Karnataka govt's claim of injustice in release of central grants
Stating that the state budget for essential expenditures for the five guarantees of the state government Siddaramaiah asserted that Karnataka's demand for its share was not a plea but a rightful assertion of its constitutional entitlement. He underscored the need for the central government to comprehend the essence of equitable distribution among states and fulfill its obligations accordingly.
“We are not asking for funds to our 5 Guarantees. We have adequate provision for those in our budget, thank you,” he said.
Contrary to Siddaramaiah's claims, Finance Minister Nirmala Sitharaman had earlier refuted allegations of withholding recommended grants for Karnataka. Dismissing the notion of any such recommendation by the 15 FC in its final report, Sitharaman maintained that Karnataka's claims of non-release of special grants were baseless. This rebuttal followed Karnataka's filing of a writ petition in the Supreme Court, seeking the immediate release of grants under the National Disaster Response Fund to address the state's severe drought conditions.
Sitharaman asserted that every due penny to Karnataka had been disbursed transparently. She provided statistical evidence, highlighting significant increases in tax devolution and grants-in-aid to Karnataka during the tenure of the current government. Sitharaman also referenced additional financial support extended to states post-COVID-19, including interest-free loans for infrastructure development, which Karnataka had reportedly received.
The Finance Minister had urged the state government to review the factual records and desist from misleading the public regarding fund allocation.
One expects the country’s Finance Minister to speak the truth. Unfortunately, she has been consistently denying the written word.
— Siddaramaiah (@siddaramaiah) March 24, 2024
The interim report of the 15 FC for 2020-21 sanctioned Rs 6764 crores for three states, viz Karnataka (Rs 5495 crores), Telangana (Rs 723 crores) &… pic.twitter.com/8kFhl70oo2
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New application filed in SC against Adani group over US indictment
New Delhi: A fresh application has been submitted to the Supreme Court of India, seeking the inclusion of key documents related to the recent US indictment of the Adani Group. Filed by advocate Vishal Tiwari, the petition aims to introduce two critical pieces of evidence into an ongoing case related to the Adani Group's financial practices.
The first document is a formal US court indictment accusing Gautam Adani, his relative Sagar Adani, and other company executives of orchestrating a massive bribery scheme to secure solar energy contracts worth billions of dollars in India. The indictment alleges that over $250 million in bribes were paid to Indian government officials to obtain these lucrative contracts.
The second document is a complaint from the US Securities and Exchange Commission (SEC), which accuses the Adani Group of securities fraud. The SEC alleges that Adani executives misled investors to raise funds for these solar projects, despite knowing that part of the capital was linked to corrupt activities.
This development follows the US Attorney's Office's recent charges against the Adani executives, who are accused of masterminding a bribery scheme to secure power supply contracts with state-run utilities in India. The contracts were expected to yield up to $2 billion in profits over two decades.
These charges come amid an ongoing investigation by India's Securities and Exchange Board (SEBI) into the Adani Group, after allegations of stock manipulation and market irregularities surfaced, particularly following the release of the Hindenburg Report in early 2023. The new US legal documents could play a crucial role in strengthening the investigation into the Adani Group's business operations.
