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
Shaila Merchant Acquires Luxury Sea-Facing Apartment in South Mumbai for ₹20.76 Crore
Shaila Merchant, mother of Anant Ambani’s wife Radhika Merchant, has made a significant purchase in Mumbai's luxury real estate market. The sea-facing apartment in Prestige Ocean Tower, South Mumbai, spans 2,565 sq ft and comes with a 83 sq ft balcony and
Mumbai's Real Estate Market Booms with 77 New Launches at HOMETHON Property Expo 2024
The Mumbai Metropolitan Region's vibrant real estate sector saw a spectacular showcase at the HOMETHON Property Expo 2024, with over 77 new projects launched and Rs 10,000 crore worth of inventory on display.
Emerging Cities Fuel India's Real Estate Boom: Key Factors Driving Growth
The impressive property price appreciation and robust demand underscore the growing confidence in Tricity's real estate market. Explore the key reasons behind this surge.
RERA Project Registrations Drop by 21% Between 2022-2024: Insights and Implications
A recent report reveals a significant 21% decline in RERA project registrations between 2022 and 2024, raising concerns and implications for the real estate sector. The drop highlights the need for strategic adjustments and regulatory reforms.
IT Salaries Fueling Real Estate Ponzi Scheme in India: Redditor’s Insight
A recent Reddit post highlights how inflated IT salaries in India are exacerbating the real estate bubble, turning it into a 'wealth transfer machine'. The post delves into the dynamics of how the IT sector's high salaries are driving up property prices,
The Rise of Multi-Asset Investing in Real Estate and Beyond
A recent consulting paper by the Securities and Exchange Board of India (SEBI) proposes allowing mutual funds to increase their holdings in real estate and other multi-asset classes. This move could revolutionize the investment landscape, offering investors more diversified and potentially lucrative opportunities.