Karnataka is estimated to see its total liabilities cross Rs 11.20 lakh crore in the next four years, according to the 5th state finance commission report which recommended several measures to shore up revenues to mitigate the growing fund crunch. The measures include tax reforms, increasing non-tax revenue, asset monetisation, rationalisation of schemes, reducing non-scheme based committed expenditure (salaries), debt management, improving efficiency in GST collections, entertainment tax and several other initiatives.

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