KARNATAKA ECONOMIC DEVELOPMENT
Bengaluru's 5G Dreams: DoT's RoW rules to clear the path
India's tech hub, Bengaluru, faces a critical connectivity challenge due to roadblocks in implementing right-of-way rules for telecom infrastructure. While removing unauthorized cables, disruptions caused by these removals highlight the urgent need for streamlined policies and collaboration between the government and telecom providers to ensure reliable, high-speed connectivity for businesses and essential services.
100 engineering colleges in Karnataka to be 'adopted' by corporates by next year: IT Minister Kharge
Karnataka's IT Minister announced that 100 engineering colleges will be "adopted" by corporations to enhance student employability. The initiative, part of the 'Nipuna Karnataka' program, aims to equip youth with in-demand skills through collaborations with industry giants like IBM and Microsoft.
Housing: It is a chain rather than one industry; 13 stocks from housing ecosystem with an upside potential above 24%
In some sectors, owning a whole chain of stocks makes more sense than taking exposure to a single stock. A sector has many industries, and each has its own internal cycle. There are times when one segment of the sector might be facing problems. So, having exposure to a number of segments helps in diversification of the portfolio. It also helps you take better advantage of a sectoral bull run. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components ¨C earnings, fundamentals, relative valuation, risk, and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.
Karnataka inked MoUs bringing in Rs 46,375 crore investments, says CM Siddaramaiah
Karnataka Chief Minister Siddaramaiah announced that the state has secured Rs 46,375 crore in investments across various sectors, projected to create 27,170 jobs. Speaking at the Indian Institute of Metals meet, he emphasized the state's focus on green technologies and sustainable industrial growth, highlighting Karnataka's commitment to becoming a global leader in advanced manufacturing.
Ten newly approved industrial cities to boost India's economic corridors: DPIIT
India is developing ten new industrial smart cities along its economic corridors, representing a Rs 28,602 crore investment. These cities aim to boost industrial growth and connectivity across various regions, including the densely populated north and the coastal east. The government highlights these corridors as transformative for India's industrial landscape, promoting trade, exports, and balanced regional development.
Bengaluru Tech Summit: Karnataka launches GCC policy, to create 6k jobs
The policy aims to generate over 5,000 jobs in Bengaluru, with an additional 1,000 jobs expected in areas beyond the city. ¡°Companies setting up dedicated campuses in these emerging locations will also be eligible for customised incentives, assessed on a case-by-case basis, to drive investment and development in the region,¡± the 72 page policy read.
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IT minister Kharge calls for level-playing field in semiconductor investments
"I'm not saying that other ecosystems don't deserve support, but who deserves it the most? It's not just about Karnataka; it's about the nation becoming a manufacturing hub. It's about India becoming an economic superpower and leading in technologies." Kharge also said that it's disheartening that states like Karnataka, Tamil Nadu, and to some extent, even Maharashtra, are getting the raw deal.
"I'll retire from politics if PM proves his allegations against Congress in Karnataka": CM Siddaramaiah
Karnataka Chief Minister Siddaramaiah challenged Prime Minister Narendra Modi's allegations of fund misuse for Maharashtra elections. Siddaramaiah denied claims of looting and dared PM Modi to prove the allegations, vowing to quit politics if found true. He highlighted his government's welfare schemes and urged Maharashtra to vote for development and progress.
Today's welfare measures aim to empower: Union Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman inaugurated a dividend distribution program for Self-Help Groups (SHGs) under the Sri Kshetra Dharmasthala Rural Development Project (SKDRDP). Sitharaman emphasized the shift in welfare approach, focusing on empowerment and recognizing the market potential of products created by beneficiaries.
UK businesses drive growth and sustainability in India, generating over Rs 5,000 bn in revenue: Report
UK businesses are making a big impact in India, generating over Rs 5 trillion in revenue and employing over half a million people. The India-UK Free Trade Agreement is expected to further boost this growth, particularly in sectors like renewable energy and technology. British investments are supporting India's economic development and sustainability goals.
Karnataka govt has approved Tourism Policy 2024-29, says Minister Hebbalkar
The Karnataka government has sanctioned the Tourism Policy 2024-29 with a Rs 1,349 crore budget for infrastructure development to attract international tourists. Minister Laxmi Hebbalkar also announced educational grants, irrigation projects, and initiatives to promote Kannada language and culture, reflecting the government's comprehensive socio-economic empowerment plans.
'What have you done for Bengaluru? Our lives are miserable,' Mohandas Pai confronts minister; Gundu Rao says don't be Maundas
Mohandas Pai criticizes the Karnataka government for its poor handling of Bengaluru's infrastructure following heavy rains. He questions the state health minister, Dinesh Gundu Rao, about what has been done for the city in the past 18 months. Rao invites Pai to help demand the state's rightful GST share to improve Bengaluru.
IT companies in Bengaluru considering options beyond the city amid infra woes, Karnataka govt warned
The Karnataka government faces criticism over Bengaluru's recurring infrastructure issues. Recent heavy rains exacerbated problems like flooding and traffic disruptions, prompting concerns among residents and industry leaders. Multinational companies may reconsider their presence, potentially impacting jobs and investments if immediate action isn't taken, industry leaders pointed out.
RITES shares in focus after securing Rs 454 crore turnkey contract in Karnataka
RITES Share Price: Shares of RITES are in the spotlight on Wednesday following the company's announcement that its previously awarded project management consultancy (PMC) contract from the Karnataka Mining Environment Restoration Corporation (KMERC) has been converted into a turnkey contract.
When greed gets better of green
Despite the severe impact of landslides in Wayanad due to ecosystem damage and climate change, six Western Ghat states refuse to propose eco-sensitive areas, arguing economic needs. The states need a comprehensive conservation plan as the risk of inaction escalates, highlighting the urgency of balancing development and ecological preservation.
Valmiki scam: Rs 15 crore funds siphoned distributed to influence voters in Lok Sabha elections
Former Karnataka Minister Nagendra and his aides allegedly siphoned off Rs 89.63 crore, of which Rs 15 crore was used to influence voters during the 2024 Lok Sabha elections, according to an ED chargesheet. The investigation uncovered a sophisticated money-laundering operation involving fraudulent accounts and shell companies.
Siddaramaiah fumes at opposition for targeting his wife in MUDA case
Karnataka Chief Minister Siddaramaiah criticizes BJP and JD(S) for bringing his wife into the MUDA case. He believes the opposition is targeting him because of his background. Siddaramaiah states his government's schemes empower minorities and backward communities, which frustrates the opposition. He denies any wrongdoing and attributes opposition attacks to political motives.
Karnataka launches GCC policy, first state to do so
¡°Through this policy, we expect the GCC sector to grow at a compound annual rate of 12-14% over the next decade and foresee Karnataka holding nearly 50% of the national GCC market share by 2029", Information Technology and Biotechnology Minister of the state, Priyank Kharge said.
Karnataka unveils GCC policy, aims to generate USD 50 billion economic output by 2029
The Karnataka Government has launched a draft Global Capacity Centres (GCC) policy aiming to generate USD 50 billion in economic output and attract 500 new GCCs by 2029, creating 3.5 lakh jobs. The policy aims to enhance investor confidence, promote collaboration with the local innovation ecosystem, and position Karnataka as a global leader in AI research and development.
Kalaburagi to be developed into smart city with Rs 1,685 cr investment: Karnataka CM Siddaramaiah
Karnataka Chief Minister Siddaramaiah announced plans to develop Kalaburagi into a smart city with an investment of Rs 1,685 crore. Under the Mahatma Gandhi Nagar Vikas Yojana 2.0, Rs 200 crore each will be allocated for infrastructure in Kalaburagi and Ballari. The state also aims to improve road connectivity and rural development in the Kalyana Karnataka region.
Why Telugu cuisine needs a culinary ambassador to accelerate Andhra's economic development
The article covered the rise of Telugu actors in the film industry and the rich culinary traditions of Telugu cuisine. It emphasized diverse regional flavors from Guntur and Rayalaseema and mentioned efforts to promote these through culinary research. It also connected the spread of popular culture to economic progress and migration patterns.
Backdoor politics won¡¯t work, Siddaramaiah warns Centre; says development not possible without funding support
By ignoring constitutional principles, there is a tendency to delay the financial share due to the states, Siddaramaiah said, adding that this attitude was compelling the states to seek legal recourse to get their rightful share from the Centre.
Siddaramaiah says guarantee schemes will continue, highlights challenges in Centre-State relations
On Independence Day, Chief Minister Siddaramaiah reaffirmed the continuation of Karnataka's five guarantee schemes despite internal calls for reassessment. He emphasized the "Karnataka model" of development, focusing on social justice and economic equality to contribute to national progress. Siddaramaiah criticized the central government for deviating from federal principles and unfairly allocating funds to states, urging for a fair distribution of grants to support state development.
Minister says technical glitch resolved, Gruha Lakshmi scheme money transfer from today
Beneficiaries of the Gruha Lakshmi scheme in Karnataka would begin receiving Rs 2,000 from Tuesday. Minister Laxmi Hebbalkar cited delays caused by technical issues as the reason for the disruption in payments for June and July. Launched in August, the scheme was a major pre-election promise by the Congress party.
Why Indians need to shed weight for the developed economy goal
"Obesity is emerging as a serious concern among India¡¯s adult population. According to National Family Health Survey 5 (NFHS-5), the percentage of men facing obesity in the age bracket 18-69 has increased to 22.9 per cent in NFHS-5 from 18.9 per cent in NFHS-4. For women, it has increased from 20.6% (NFHS-4) to 24.0% (NFHS-5)," the Economic Survey says.
How the Ambani wedding sparked global interest and economic development: Tracing the memorable celebration of love, culture, and unity, that will be remembered for years
Radhika and Anant Ambani's wedding fused tradition and elegance. Featuring Justin Bieber and attended by PM Modi, former UK PMs and John Cena, it included traditional ceremonies at Jio World Convention Centre. Boosting local industries and inspired by Nita Ambani, it supported the 'Make in India' initiative while uniting global cultures and highlighting Indian heritage.
There's no right to a job & one has to compete for it; Karnataka job quota bill is unconstitutional and fascist, says Mohandas Pai
¡°Karnataka produces a lot of jobs. If you look at all the data, there are more jobs than people graduating. If you look at multiple sectors, construction, and infrastructure, there are not enough people from Karnataka. Security, we are not getting enough people from Karnataka. Even in IT, we are not getting enough qualified people,¡± says Mohandas Pai
Government won't protect anyone in illegal money transfer case, says Karnataka CM Siddaramaiah
Karnataka Chief Minister Siddaramaiah and Deputy CM DK Shivakumar stated that the state government will not shield anyone involved in the illegal money transfer case at the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Ltd. They promised action according to the law. The BJP demanded Minister B Nagendra's dismissal and a CBI probe. A suicide note revealed unauthorised transfer of Rs 187 crore, leading to a SIT probe led by Manish Kharbikar. Happiest Minds Technologies Ltd denied any connection to the embezzled funds.
Road ministry sanctions Rs 1,385.60 cr for 295 road development projects
As per another statement, the Ministry of Road Transport and Highways (MoRTH) has also sanctioned Rs 850 crore for the widening and strengthening of 31 state road projects, encompassing a total length of 435.29 Km in Telangana.
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