New Delhi, Jan. 10 -- As the Centre moves closer to finalising the Budget 2026-27, Karnataka and Punjab have intensified their demands for urgent financial support, highlighting deepening fiscal pressures and extraordinary economic challenges faced by both states.
In Saturday's pre-budget consultation meeting chaired by Finance Minister Nirmala Sitharaman here, Karnataka's revenue minister pressed the Centre to address a growing revenue shortfall caused by the recent rationalisation of the Goods and Services Tax (GST).
The state has called for compensation to offset losses incurred after changes in tax rates led to a significant dip in its receipts, arguing that sustained revenue erosion could hinder its ability to fund critical services ...