Karnataka Chief Minister D V Sadananda Gowda on Monday said the State’s finances were sound as the government mopped up Rs 58,541 crore revenue during 2010-2011 as compared to Rs 49,156 crore during 2009-2010.

In his first Independence Day address here, Mr. Gowda, who became the ruling BJP’s second Chief Minister in the State on August 4 after B S Yeddyurappa stepped down following his indictment by a Lokayukta report on illegal mining, said revenue receipts of the State increased to Rs 58,541 crore in 201—2011, a growth of 18 per cent.

He said the State government spent a record Rs 31,750 crore, while the target of plan expenditure for 2010—2011 was fixed at Rs 31,050 crore.

“The Planning Commission, Reserve Bank of India, and 13th Finance Commission have commended our efforts in resource mobilisation, fiscal management and increasing the plan expenditure,” he said.

Talking about tax collections, Mr. Gowda said commercial tax grew at 27 per cent in 2010-2011 and motor vehicles tax grew by 37 per cent. Moreover, the stamp duty collection went up to 36 per cent and excise tax by 19 per cent, he said.

Referring to agriculture, he said the State has received good rains, except in Chitradurga, Tumkur and Gadag districts, which received less than the average rainfall.

“The government will initiate relief works if the situation worsens in these areas,” he said.