RBI projects 7 pc growth for next financial year
Mumbai (PTI): The Reserve Bank of India on Thursday projected a GDP growth of 7 per cent for 2024-25 financial year, which is lower than the 7.3 per cent expansion estimated for the current fiscal.
Announcing the bi-monthly monetary policy, RBI Governor Shaktikanta Das said rural demand continues to gather pace, urban consumption remains strong and investment cycle is gaining steam on the back of increased capex.
Das said there are signs of revival in private investments.
The real GDP for 2024-25 is projected to grow at 7 per cent, with June and September quarters growth at 7.2 per cent and 6.8 per cent, respectively.
The growth in December and March quarters is projected at 7 per cent and 6.9, per cent, respectively.
Das said domestic economic activity remains strong and growth in the current fiscal as per estimates by the NSO is 7.3 per cent.
"The momentum of 2023-24 is expected to continue in 2024-25 fiscal," Das said.
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Bengaluru MLAs 'blackmailing' us, says Deputy CM DK Shivakumar as garbage crisis worsens
Bengaluru, Mar 14 (PTI): Karnataka Deputy Chief Minister D K Shivakumar on Friday alleged that the city MLAs across political parties are "blackmailing" the government over Bengaluru's garbage crisis.
Referring to them as "blackmailers" in the Legislative Council, he claimed that these MLAs are demanding Rs 800 crore in development funds.
He further alleged there is a "big mafia" controlling the city's solid waste management.
The Deputy CM was replying to MLC M Nagaraju’s question on the garbage issue in the city.
Nagaraju pointed out that many garbage transporting vehicles are stranded on the roads due to lack of waste disposal facilities. He also expressed concerns about waste not being cleared from the city.
“I have seen reports about the garbage problem in the media. There is a big mafia. The garbage contractors have formed a cartel and quoted prices 85 per cent higher than the standard rates. Now, they have approached the court preventing us from taking action,” Shivakumar, who is Bengaluru Development Minister, told the Council.
He further claimed that legal hurdles are delaying government efforts to streamline solid waste management.
Shivakumar revealed that the government had planned to divide the city's garbage disposal work into four packages and transport waste 50 km away, but the initiative has been stalled.
“Our Bengaluru MLAs are blackmailing us. I don’t want to name them. I am telling you the fact. They are from all the parties. They want Rs 800 crore as development funds. I cannot take their names here.”
He told the Council that for the past three days vehicles were stranded in Mahadevapura in the city.
Noting that he wanted to take the garbage at least 50 km away from the city, the Deputy CM appealed to the MLAs to help the BBMP identify 100 acres land in Kolar, Nelamangala, Kanakapura Road, or next to a forest land.
“I (government) will purchase it (land) and get a permanent solution. I asked the Industries Minister for 100 acres land, to which he wondered whether garbage be dumped inside industries?” Shivakumar said.
The Deputy CM said the experiment to generate power has failed.
“I had been to Hyderabad and Chennai. All electric (units) have failed. The only option is gas. There is a chance to generate gas. I had seen it at three to four places,” he opined.
Two locations have been identified for waste disposal – one is with the Nandi Infrastructure Corridor Enterprise (NICE) Road authorities and another one in Doddaballapura.
According to him, technologies exist to manage waste disposal efficiently without causing inconvenience to anyone or contaminating groundwater through leachate.
Shivakumar pointed out that all the governments have failed to find a humane solution to the garbage issue.
“What was done in the past was not done from the human perspective. Siddaramaiah and even the BJP had made promises but ultimately we have failed. We have to make a respectful arrangement for garbage disposal,” he noted.
He told the House that he would give a detailed reply on the issue on Monday.
