No dearth of funds for Greater Bangalore: CM

No dearth of funds for Greater Bangalore: CM
New Indian Express

BANGALORE: Chief Minister H D Kumaraswamy on Thursday said that the government faced no shortage of funds to manage Greater Bangalore.

“The city has enough assets owned by civic bodies which can be leveraged to generate funds for urban governance,” he said.

The CM was speaking after renaming Shankar Park Extension in the city as Chandrashekhar Bharathi Extension.

Kumaraswamy attempted to allay the fears that Greater Bangalore would result in poor services by assuring to take all precautions.

He said that the government did not need to borrow from the Centre nor from any international agency.

“House committee on encroachment on government land in and around Bangalore has found ample number of cases and the same land can be used to finance Bangalore’s development,” he added.

Former CM N Dharam Singh said that revenues to civic bodies had dwindled after Centre withdrew octroi.

Mumbai still levies octroi and Karnataka government should take measures to bring it back to Bangalore, he said.

Basaavanagudi MLA K Chandrashekhar, former MP V S Krishna Iyer, deputy mayor M Laxminarayana, leader of ruling party at BMP H Ravindra along with HC judges K L Manjunath, N Kumar and R Gururajan were present.