CM to FM Nirmala: Release Rs 5,495 cr

Bengaluru, NT Bureau: Chief Minister Siddaramaiah on Monday wrote to Union Finance Minister Nirmala Sitharaman demanding Rs 5,495 crores in pending special grants to Karnataka which were recommended to the 15th Financial Commission (FC).

The CM also complained that the current tax devolution plan has hit Karnataka adversely as the state’s share plummeted from 4.71 per cent under the 14th FC as opposed to 3.64 per cent under the 15th FC.

“Further, the 15th Finance Commission has recommended Rs 5, 495 crore to Karnataka as Special Grants but the Government of India has not considered the recommendation,” the CM said.