Bengaluru, Aug 29 (Reporter) Karnataka Chief Minister Siddaramaiah on Thursday raised concerns over the drastic reduction in the state's share of funds from the 15th Finance Commission, claiming it has caused a significant revenue loss of Rs 68,275 crore over five years. Addressing the 16th Finance Commission, chaired by Arvind Panagariya, Siddaramaiah called for greater devolution of resources to meet the shortfall and rectify regional imbalances. The reduction saw Karnataka's share plummet from 4.713 percent to 3.647 percent, a cut that Siddaramaiah argues has unfairly penalised the state despite its strong fiscal and demographic performance. The loss has been further compounded by the Central Government’s rejection of state-specific grants recommended by the Finance Commission, leading to a total loss of Rs 79,770 crore during the period from 2021-26. In his appeal to the 16th Finance Commission, Siddaramaiah emphasised the urgent need for financial support to address the significant regional disparities in Karnataka, particularly in the Kalyana Karnataka region. He pointed out that the state has been transferring Rs 35,000-40,000 crore annually to other states during the 15th Finance Commission period, amounting to 1.8 percent of its Gross State Domestic Product (GSDP). This transfer, he noted, represents 50-55 percent of Karnataka’s total revenue generation, highlighting a severe fiscal imbalance. The Chief Minister also highlighted the pressing infrastructure needs of Bengaluru, which requires an investment of Rs 55,586 crore over the next five years to cope with rapid urbanisation. The state is seeking a grant of Rs 27,793 crore from the Finance Commission to cover nearly half of this requirement. To promote equitable development, Siddaramaiah proposed a matching grant of Rs 25,000 crore from the Finance Commission to support the state’s investment in the underdeveloped Kalyana Karnataka region. Additionally, he requested a grant of Rs 10,000 crore to fund disaster mitigation and relief efforts in the ecologically vulnerable Western Ghats. Siddaramaiah concluded his address by urging the Finance Commission to adopt a more balanced approach in its future allocations, ensuring that states like Karnataka are not penalized for their achievements and that the principle of equity does not disproportionately disadvantage well-performing states...////...