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Karnataka Chief Minister Siddaramaiah met Prime Minister Narendra Modi, urging for urgent clearances for the Mekedatu Balancing Reservoir and Kalasa Bandhuri projects, along with a request for Rs 10,000 crore in financial support. He highlighted a significant reduction in short-term farm loan limits by NABARD, which could adversely affect farmers, and sought Rs 5,300 crore for the Upper Bhadra Project to aid drought-prone areas.
Karnataka Chief Minister Siddaramaiah launched the Karnataka Milk Federation's Nandini brand in the Delhi-NCR market, offering competitive prices to attract customers. The cooperative will sell various cow milk variants, curd, and buttermilk, with cow milk priced at Rs 56 per litre and curd at Rs 74 per kg. KMF plans to market 3-4 lakh litres of surplus milk daily in the region.
Karnataka"s draft Global Capability Centre (GCC) policy aims to establish three Global Innovation Districts, enhancing GCC investments and office space demand, particularly in north Bengaluru. Chief Minister Siddaramaiah announced that the new Bengaluru GCC district will be part of the Knowledge, Wellbeing, and Innovation City, located 45 minutes from Kempegowda International Airport. With GCCs driving nearly half of Bengaluru’s Grade A office space demand, the city could see an annual uptake of 8-10 million sq ft in the coming years.
Karnataka faces a Rs 12,000 crore revenue shortfall, prompting the government to seek internal funding to reduce new borrowing. With Rs 90,000 crore allocated to welfare schemes, a review of subsidies is necessary as expenses rise. The state may establish an investment trust and issue bonds to alleviate financial pressures exacerbated by the GST regime.
Nara Lokesh, Andhra Pradesh's Minister and General Secretary of the Telugu Desam Party, addressed concerns from former Infosys CFO Mohandas Pai regarding the state's governance and infrastructure. He acknowledged the challenges faced over the past five years but emphasized ongoing efforts to rebuild and attract investment, particularly in Amaravati. Lokesh highlighted the state's potential, citing the return of talent and commitment to developing world-class infrastructure as key factors in regaining investor trust.
Bengaluru faces a crisis as heavy rains reveal significant infrastructural issues, prompting former Infosys CFO TV Mohandas Pai to criticize the Karnataka government for its inaction on vital concerns like roads and drainage. His tweets express widespread frustration among residents and MNCs reconsidering expansion plans in the city. Pai also highlighted the need for urgent action from Andhra Pradesh's leadership to restore trust after previous governance failures.
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