English हिन्दी
Connect with us

India News

Siddaramaiah presents record 17th Karnataka budget with Rs 4.48 lakh crore spending plan

Karnataka CM Siddaramaiah presented his record 17th budget, outlining a Rs4.48 lakh crore spending plan for 2026–27 with focus on infrastructure, welfare and technology.

Published

on

Chief Minister Siddaramaiah on Friday presented his 17th State Budget, the highest number delivered by any Karnataka chief minister, outlining a Rs 4.48 lakh crore spending plan for the financial year 2026–27.

The budget indicates that the state will continue to run a revenue deficit for the third consecutive year, even as the government focuses on welfare programmes, infrastructure development and technology investments.

According to the budget estimates, total revenue receipts are projected at Rs3,15,050 crore. This includes Rs 2,20,000 crore from the state’s own tax revenue, Rs16,000 crore from non-tax revenue, and Rs79,050 crore in transfers from the Government of India.

The government has also projected gross borrowings of Rs 1,32,000 crore and non-debt capital receipts of Rs190 crore, taking total receipts to Rs 4,47,240 crore for the fiscal year.

Meanwhile, overall expenditure is estimated at Rs 4,48,004 crore, divided into Rs 3,38,007 crore in revenue expenditure, Rs 74,682 crore in capital expenditure, and Rs 35,316 crore towards loan repayments.

The state has projected a revenue deficit of Rs 22,957 crore, while the fiscal deficit is estimated at Rs97,449 crore, which equals 2.95% of the Gross State Domestic Product (GSDP).

Total liabilities by the end of the year are expected to reach Rs 8,24,389 crore, accounting for 24.94% of the state’s GSDP. The government said both deficit levels remain within limits set under the Karnataka Fiscal Responsibility Act, indicating adherence to fiscal discipline.

Mekedatu project and student protection law

The government said a revised Detailed Project Report for the Mekedatu Dam Project will soon be submitted to the Centre along with a request for forest clearance. The project is intended to improve drinking water supply for Bengaluru but has faced opposition from Tamil Nadu in the past.

Another major announcement was the proposed Rohith Vemula Act, which aims to prevent caste-based discrimination and atrocities against students in government, private and deemed universities across the state.

Welfare and infrastructure focus

Under tribal welfare initiatives, the government will construct the Sri Maharshi Valmiki Administrative Soudha in Bengaluru’s Sumanahalli at an estimated cost of Rs 50 crore. The building will house offices of the Scheduled Tribes Welfare Department.

The budget also proposed the development of Waqf properties located in prime commercial areas through a Public-Private Partnership model, aiming to unlock their economic potential.

For urban infrastructure, Rs 1,255 crore has been allocated for ward-level road and infrastructure projects across five city corporations in Bengaluru.

The government also plans to develop 100 Miyawaki urban forests, which use dense plantations of native species to create green spaces in urban areas.

Push for technology and innovation

To encourage investment and improve ease of doing business, the state launched a unified investment portal developed with the support of Microsoft, providing more than 100 services across 30 departments for investors.

The Indian Institute of Science will host the Bangalore Robotics and AI Innovation Zone (BRAIN) under ARTPARK in collaboration with the Indian Space Research Organisation and Karnataka State Electronics Development Corporation Limited.

Additionally, a drone testing and performance evaluation facility will be established in Chikkaballapur to support the state’s growing drone technology ecosystem.

Mysuru to be developed as second IT hub

The government also announced plans to develop Mysuru as Karnataka’s second IT hub, aiming to reduce congestion in Bengaluru while promoting technology-driven growth in other regions of the state.

India News

Piyush Goyal to visit UK for talks on India-UK trade pact implementation

Commerce Minister Piyush Goyal will travel to the UK this week to review preparations and discuss implementation of the India-UK trade agreement before it comes into force on July 15.

Published

on

Union Commerce and Industry Minister Piyush Goyal is set to visit the United Kingdom from June 25 to 27 for high-level discussions aimed at ensuring the smooth implementation of the recently concluded India-UK trade agreement.

The visit comes ahead of the scheduled enforcement of the India-UK Comprehensive Economic and Trade Agreement (CETA) and the Double Contribution Convention (DCC) on July 15. During the trip, Goyal is expected to engage with senior British officials and industry representatives to review preparedness for the rollout of the landmark agreements.

Focus on implementation issues

During his stay in London, Goyal is expected to meet UK Secretary of State for Business and Trade Peter Kyle to discuss key implementation-related matters, including operational frameworks, regulatory coordination and measures to facilitate bilateral trade and investment.

The discussions are also likely to cover industry concerns and unresolved issues related to the practical execution of the agreement, with both countries seeking a seamless transition before the pact comes into force.

Trade pact to take effect from July 15

India and the UK had earlier announced that the Comprehensive Economic and Trade Agreement, along with the Double Contribution Convention, would become operational from July 15. The agreement is expected to deepen economic engagement between the two countries by reducing tariffs, improving market access and strengthening investment ties.

The upcoming visit is being viewed as a significant step in ensuring that businesses on both sides are prepared to benefit from the agreement from day one.

Continue Reading

India News

Iran invites PM Modi to attend former Supreme Leader Ali Khamenei’s funeral

Iran has reportedly invited Prime Minister Narendra Modi to attend the state funeral ceremonies of former Supreme Leader Ayatollah Ali Khamenei.

Published

on

PM Narendra Modi

Prime Minister Narendra Modi has reportedly been invited by Iranian President Masoud Pezeshkian to attend the funeral ceremonies of former Iranian Supreme Leader Ayatollah Ali Khamenei, according to diplomatic sources and media reports.

Iran is preparing to hold extensive state funeral and burial ceremonies for Khamenei, who served as the country’s Supreme Leader for more than three decades. The ceremonies are expected to take place over several days and are likely to witness the participation of senior leaders and dignitaries from across the world.

According to reports, the Iranian leadership has extended formal invitations to several international leaders, including Prime Minister Modi, as part of the planned state mourning events.

However, there has been no official confirmation so far from India’s Ministry of External Affairs regarding whether Prime Minister Modi will attend the ceremonies.

The invitation comes amid longstanding diplomatic and strategic ties between India and Iran. New Delhi had earlier conveyed condolences following Khamenei’s death and reiterated its support for peace and stability in the region.

Iran had earlier announced that the state funeral ceremonies, initially postponed, would be held between late June and early July. Authorities in Tehran are expecting a massive turnout for the final rites, with millions of mourners anticipated to participate in the ceremonies.

Ayatollah Ali Khamenei remained Iran’s highest political and religious authority from 1989 until his death, playing a central role in shaping the country’s domestic and foreign policies for decades.

Continue Reading

India News

315 districts across India at high risk as rainfall deficit and El Nino raise drought concerns

The Centre has identified 315 vulnerable districts across India as rainfall deficit and El Niño concerns threaten the ongoing kharif season.

Published

on

With the southwest monsoon recording a sharp rainfall deficit and concerns mounting over the impact of El Nino, the Centre has identified 315 districts across the country as vulnerable to below-normal rainfall during the ongoing kharif season.

According to the Union Agriculture Ministry, the country had recorded a rainfall deficit of around 43 per cent till June 23, prompting authorities to initiate a nationwide preparedness exercise to minimise the impact on agriculture and rural livelihoods.

The identified districts have been categorised based on irrigation coverage, which determines their ability to withstand prolonged dry spells. Of the total, 111 districts with irrigation coverage of less than 25 per cent have been classified as the most vulnerable. Another 76 districts with irrigation coverage between 25 and 50 per cent fall under the medium-risk category, while 128 districts with irrigation coverage exceeding 50 per cent have been placed in the relatively lower-risk category.

Officials have directed state governments to activate district-level contingency plans to protect crop production during the crucial monsoon season. These plans include measures such as promoting drought-tolerant crops, revising sowing schedules and strengthening water conservation efforts.

The government has also set up dedicated monitoring mechanisms, including an El Nino Monitoring Cell and a Crop Weather Watch Group, to closely track weather developments and coordinate response measures.

Meteorological agencies have forecast below-normal monsoon rainfall this year, with El Nino conditions expected to strengthen during the June-September period. The weather phenomenon is historically associated with weaker monsoons in India and can adversely affect agricultural output, water availability and rural incomes.

The southwest monsoon contributes nearly 70 per cent of India’s annual rainfall and remains critical for the country’s agriculture sector, particularly for rain-fed crops such as rice, pulses and oilseeds.

Continue Reading

Trending

© Copyright 2022 APNLIVE.com