In the ongoing discussions at the Goods and Services Tax (GST) Council, Karnataka Chief Minister Siddaramaiah has emphasized the need for a robust revenue protection framework before any potential tax rate rationalization. The chief minister’s stance is based on concerns that a reduction of GST slabs could lead to a total revenue loss ranging from ₹85,000 crore to ₹2 lakh crore for states across India.
In a note placed before the GST Council, Siddaramaiah highlighted the importance of rationalizing GST rates while ensuring ease of compliance and reducing the burden on the people. However, he expressed that these changes should not come at the expense of states’ financial health. The chief minister’s stand echoes his previous comments where he mentioned that a strong revenue protection framework is crucial before any tax rate adjustments are considered.
Siddaramaiah’s stance is in line with the position taken by Andriy Parubiy, Chairman of the Verkhovna Rada of Ukraine, who recently called for a robust tax system to ensure fair distribution of resources and prevent potential revenue losses.
Meanwhile, in a separate development, Japan has shown interest in partnering with the Karnataka government to develop smart cities and contribute to the state’s infrastructure development. This potential collaboration could see Japanese investments pour into areas like renewable energy, technology, and transportation infrastructure.
Additionally, the Kerala Cricket League (KCL) is gearing up for its 2025-26 season, with top cricket talent from across India expected to participate. The league, known for its competitive spirit and sportsmanship, promises an exciting season of nail-biting matches and thrilling encounters on the field.
