Karnataka's Asset Monetisation Scheme: A Boon for Real Estate Groups, Alleges Basavaraj Bommai
The Karnataka government's asset monetisation scheme is aimed at benefiting real estate groups, alleges former Chief Minister and BJP MP Basavaraj Bommai.
Asset MonetisationReal EstateKarnataka GovernmentCongressBjpReal Estate NewsJun 18, 2024
Bommai accused the Congress government of betraying the people who voted them into power, claiming that they have reached a state of financial distress. He likened the government's plan to sell and monetise state assets to a family selling ancestral property as a last resort, citing it as proof of the state's financial degradation.
The BJP MP also claimed that the state government has already borrowed Rs 1.05 lakh crore and imposed a new tax burden of around Rs 20,000 crore on the poor people of the state. He questioned the credentials of Chief Minister Siddaramaiah, who claims to be a financial expert, saying that his two economic advisors are worthless.
Bommai warned that a mass movement by the BJP against the asset monetisation scheme is both necessary and inevitable, given the state's financial condition. He claimed that it is impossible to hide the state's financial condition, and that the Congress government is betraying the state and its people by moving forward with such deals.
Frequently Asked Questions
What is the asset monetisation scheme?
The asset monetisation scheme is a plan by the Karnataka government to sell and monetise state assets.
Who has alleged that the scheme is aimed at benefiting real estate groups?
Former Chief Minister and BJP MP Basavaraj Bommai has alleged that the scheme is aimed at benefiting real estate groups.
How much has the state government borrowed, according to Bommai?
According to Bommai, the state government has borrowed Rs 1.05 lakh crore.
What is the new tax burden imposed on the poor people of the state, according to Bommai?
According to Bommai, the new tax burden imposed on the poor people of the state is around Rs 20,000 crore.
What is Bommai's warning to the Congress government?
Bommai has warned that a mass movement by the BJP against the asset monetisation scheme is both necessary and inevitable, given the state's financial condition.
Related News Articles
Devendra Fadnavis Sworn in as Maharashtra’s 21st Chief Minister; Shinde and Pawar as Deputies
Mumbai, December 5, 2024: Devendra Fadnavis was sworn in as the 21st Chief Minister of Maharashtra at a grand ceremony held at Azad Maidan in Mumbai. The oath-taking ceremony was attended by a number of dignitaries and political leaders.
Pune's Beloved Crossword Store Closes Down: A Heartfelt Farewell
The closure of India's largest Crossword store in Aundh, Pune, has left a void in the hearts of many bibliophiles. Real estate costs and changing reading habits have forced the store to shut down, leaving book lovers mourning the loss of a cherished landm
FICCI, ASSOCHAM Push for Input Tax Credit for Real Estate Developers under CGST
Leading industry bodies, FICCI and ASSOCHAM, have strongly advocated for the inclusion of real estate developers in the Input Tax Credit (ITC) scheme under the Central Goods and Services Tax (CGST). This move aims to reduce the financial burden on develop
Prabhat Road, Erandwane: Pune's Most Expensive Area for Real Estate
Prabhat Road in Erandwane has emerged as Pune's most expensive area for real estate, with skyrocketing land and flat prices. This trend has significant implications for both buyers and the government's revenue collection.
Creditors Demand Bankruptcy for Xinyuan Real Estate in China
Creditors of Chinese real estate developer Xinyuan Real Estate Co Ltd. are taking drastic measures to recover their losses by seeking the company's bankruptcy. This move highlights the financial turmoil in China's property market.
Mumbai's Unfurnished 2-BHK Flat With ₹1 Lakh/M Rent Shocks Netizens
The city of Mumbai, known for its fast-paced life and opportunities, is becoming increasingly unaffordable for many. A recent listing of an unfurnished 2-BHK flat in Mumbai at a staggering rent of ₹1 lakh per month has left netizens stunned and sparked a debate on the city's real estate market.