Bengaluru BJP MLAs and MPs meet CM, demand higher allocation of funds for city in budget
Bengaluru (PTI): A delegation of BJP legislators and MPs from Bengaluru on Friday met Chief Minister Siddaramaiah and sought higher allocation of funds in the upcoming state budget for the city's development.
The delegation led by party state BJP President B Y Vijayendra and Leader of Opposition in the Legislative Assembly R Ashoka asked for allocation of Rs 150 crore for each Assembly segment in the city.
Relook into the Metro fare hike, allocation of funds for constituencies represented by first time MLAs, and holding of Bruhat Bengaluru Mahanagara Palike (BBMP) polls at the earliest are among the issues that were highlighted at the meeting.
Siddaramaiah who also holds the finance portfolio is scheduled to present the budget for 2025-26 on March 7, marking his 16th budget.
"All our MLAs, MPs, MLCs and district unit presidents from Bengaluru met the Chief Minister and requested for more funds in the budget, funds to the legislators for the development of their constituencies, keeping in mind the development of Bengaluru," Vijayendra said.
Speaking to reporters here after meeting the CM, he said, when BJP's B S Yediyurappa and Basavarj Bommai were Chief Ministers earlier Rs 6,000-8,000 crores were given to Bruhat Bengaluru Mahanagara Palike (BBMP) for the development of Bengaluru in every budget.
"No such allocations have been made for Bengaluru in the last two years, so we have requested Rs 6,000-8,000 crores for Bengaluru city in the budget," he said.
Noting that infrastructure projects like flyovers and others are going on at a slow pace, the state BJP chief said, priority should be given for completion of such projects by allocating more funds for them.
He said, during the meeting, Bengaluru MPs PC Mohan and Tejasvi Surya suggested that the Chief Minister send necessary communication to the fare fixation committee to reduce the metro fare that was hiked recently.
"Requests were made to the CM for enhanced allocation in the budget for Bengaluru's development and to the constituencies represented by first time MLAs. We have also requested that the BBMP polls should be held at the earliest ," he said, adding that the CM has responded positively and has assured that he will ensure allocation of funds within limitations.
Claiming that never had such a plight come for Bengaluru and Rs 6,000-8,000 crore was allocated to the city in every budget. When BJP was in power allocations were made to the constituencies irrespective of the party of MLAs who represent them, he said.
"Keeping in mind Bengaluru's global and national reputation, we have urged the CM to give more funds to the city, and we are hopeful that the Chief Minister will consider it," he added.
Vijayendra in response to a question said, the party will discuss the proposal to divide BBMP into multiple corporations. "BBMP polls should not be postponed citing creation of Greater Bengaluru Authority as the reason," he said.
In July last year, the Greater Bengaluru Governance Bill was referred to a joint select committee headed by Shivajinagar Congress MLA Rizwan Arshad. The committee submitted its report to Assembly Speaker U T Kharder on Monday.
As per the report, the IT city may be divided into multiple corporations, replacing the BBMP, which will report to a central body known as the Greater Bengaluru Authority, official sources said.
Vijayendra said the party will also raise the issue of an "unscientific" tunnel road that has been planned in the city.
Ashoka said, with Bengaluru's development stunted for the last two years the delegation of BJP legislators have met the Chief Minister and demanded for allocation of more funds in the budget.
"We have told the CM that allocation of funds to the constituencies of all legislators including those from the opposition parties is crucial for the all round development of the city and the state. We have told him how allocation was made without any discrimination when BJP was in power and asked him on why discrimination is being shown now," he said.
He also said that they have urged the CM to provide Rs 120-150 crore funds for every constituency, so that development works can go on for at least a couple of years.
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Rupee hits record low of 96.14/USD, settles at fresh closing low of 95.86/USD
Mumbai (PTI): The Indian rupee crashed below the 96/USD mark on Friday before closing at an all-time low of 95.86 (provisional) against the US dollar as elevated crude oil prices and inflation concerns added to the downside pressure on the rupee.
Rupee has registered over 6 per cent losses so far this year, and in the past six trading sessions, it has depreciated nearly 2 per cent as Iran war risk escalation pushed crude oil prices higher. The dollar index moved northwards after strong US retail sales and stable labour market data reduced expectations of aggressive Federal Reserve rate cuts.
Forex traders said global uncertainties, relatively high valuations, and the lack of AI-led investment opportunities have weighed on capital flows.
Moreover, weak net FDI inflows are likely to exert pressure on the balance of payments, while rising crude oil prices stoke inflation worries.
At the interbank foreign exchange, the rupee opened at 95.86, then slumped to a record low of 96.14 in intraday trade, registering a fall of 50 paise from its previous close.
The USD/INR pair finally settled at 95.86 (provisional) against the US dollar, registering a fall of 22 paise from its previous close, helped by likely RBI intervention.
On Thursday, the rupee weakened to a fresh record low of 95.96 before closing with a marginal gain of 2 paise at 95.64 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.15, higher by 0.34 per cent.
Brent crude, the global oil benchmark, was trading up 3.14 per cent at USD 109.04 per barrel in futures trade.
On the domestic equity market front, Sensex fell 160.73 points to settle at 75,237.99, while Nifty declined 46.10 points to 23,643.50.
Foreign Institutional Investors turned net buyers, purchasing equities worth Rs 187.46 crore on Thursday, according to exchange data.
Meanwhile, the country's exports in April rose by 13.78 per cent to USD 43.56 billion despite global challenges, Commerce Secretary Rajesh Agrawal said on Friday.
Imports grew 10 per cent year-on-year to USD 71.94 billion in April. The trade deficit during the month stood at USD 28.38 billion.
"We expect the rupee to trade with a negative bias on elevated crude oil prices and inflation concerns. Strong dollar and FII outflows may also weigh on the rupee. However, any intervention by the RBI and hiking of import duty on gold and silver may support the rupee at lower levels. USD-INR spot price is expected to trade in a range of 95.60 to 96.20," said Anuj Choudhary, Research analyst at Mirae Asset ShareKhan.
Chinese President Xi Jinping and his US counterpart Donald Trump on Friday hailed their talks as "historic" and "landmark", as the American leader wrapped up his three-day visit on a high note, but no deals on any contentious issues were announced.
Both Presidents, who held several rounds of talks covering a range of global issues, including the Iran war and bilateral trade frictions, concluded their discussions with a private meeting at Zhongnanhai, the well-guarded compound in Beijing where top leaders reside.
