According to former GST Council member, Karnataka is looking at a potential drop in revenue of Rs 65,459 crore in the current financial year. Congress MLA Krishna Byre Gowda said that GST shortfall is expected to be between Rs 25,000 crore and Rs 27,000 crore. The Centre has promised to give Rs 18,000-19,000 crorewhile there will still be a gap of Rs.7,000-8,000 crore. Due to its debt servicing commitments, the state will soon run out of its funds for development and welfare programmes.
