Karnataka Shatters "bankrupt" Propaganda, Ranks 2nd in Tax Contributions: Siddaramaiah
Karnataka chief minister Siddaramaiah on Saturday expressed his proud over the state being ranked as India’s second-largest direct tax contributor for financial year 2024, replacing Delhi. Karnataka contributed over 11.9% of the nation’s direct tax collections this financial year.
In a social media post, the Congress leader stated the achievement shatters the opposition’s baseless propaganda that our economy is ‘bankrupt’ due to the government’s commitment to social welfare. “Our guarantee schemes are not only empowering our citizens but are also fueling robust economic growth. Karnataka’s strength lies in inclusive development, where progressive policies benefit both the people and the economy,” Siddaramaiah wrote in a post on X.
Karnataka proudly ranks as India’s second-largest direct tax contributor for FY24, contributing over 11.9% of the nation’s direct tax collections.
This achievement shatters the opposition’s baseless propaganda that our economy is ‘bankrupt’ due to our commitment to social… pic.twitter.com/c6mRJBWUhX
— Siddaramaiah (@siddaramaiah) October 26, 2024
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According to a report released by the State Bank of India, Karnataka accounted for 11.9 per cent of the total direct tax revenue, following Maharashtra’s 38.9 per cent in the fiscal year 2023-24. Delhi came down to third with 10.4 per cent. Tamil Nadu and Gujarat rank fourth and fifth contributing 6.5 per cent and 4.8 per cent to direct tax revenue, respectively. Notably, these five states contribute more than 70 per cent of the Centre’s total direct tax kitty.
