Karnataka cabinet approves holding of global investors meet next year
Bengaluru, Jun 13: Karnataka cabinet on Thursday gave its approval for holding 'Invest Karnataka 2025', the Global Investors Meet, from February 12-14 here next year.
The cabinet headed by Chief Minister Siddaramaiah, which met for the first time after the Lok Sabha polls and completion of the Model Code of Conduct, also approved a proposal to procure the services of 'The Boston Consulting Group (India) Private Ltd. ' as the knowledge partner, for attracting investments in Karnataka, Law and Parliamentary Affairs Minister H K Patil said.
"The cabinet has given its approval to hold Invest Karnataka 2025, the Global Investors Meet (GIM) at Bengaluru's Palace Ground. To hold GIM at least 10-12 months time is required. So it has been decided to hold it from February 12 to 14, 2025," he said.
While briefing reporters about the cabinet decisions after the meeting, Patil said, "already Rs 75 crore was provided for this, and the cabinet today gave its approval to provide additional Rs 15 crore for this."
The cabinet also took stock of the implementation of tender proposals approved during the last 11 cabinet meetings from November 23, 2023 to March 14, 2024, and the Chief Minister directed officials to ensure that tenders are called and works start for all the approved proposals in a month's time.
According to the data, Patil said, out of 147 tender proposals approved by the cabinet during the said period, tenders have been invited for 94 proposals, 19 are under consideration, for 18, work orders have been given; in seven cases, work has been completed, and in 53 cases, tenders are yet to be invited.
"The cabinet took note of it seriously, and the Chief Minister through the Chief Secretary has directed officials that all the necessary measures should be taken to ensure that tenders are called for all the tender proposals approved by the cabinet and the work begins in the next one month's time," he added.
The other cabinet decisions include: administrative approval for the construction of new court buildings in Uttara Kannada district at an estimated cost of Rs 12 crore, and purchase of, new 112 fully built Bharat Stage (BS) IV 'Vegadoota' buses for Kalyana Karnataka Road Transport Corporation (KKRTC) and North Western Karnataka Road Transport Corporation - (NWKRTC), at an estimated cost of Rs 46.48 crore.
Topics like implementation of seventh pay commission and holding legislature session were informally discussed at the cabinet meeting, but no decisions were taken, the Minister said.
Patil said, discussions were also held regarding improving the governance, making the administration more stronger and people-friendly.
"On the whole regarding improving the governance, the Chief Minister gave several directions and guidance. Some of them were told to district Ministers, some of them were to bureaucrats through the Chief Secretary. He (CM) also suggested holding Janata Darshans and to respond to the needs of the people immediately....you will see the change and improvement in the whole administration." he added.
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AI, IndiGo, SpiceJet seek ATF price relief; say airline industry on verge of 'stopping operations'
Mumbai (PTI): Air India, IndiGo and SpiceJet have told the government that the country's airline industry is under extreme stress and on the verge of "stopping operations", as they sought revision in ATF pricing and financial support.
The West Asia turmoil has pushed up oil prices, and airspace restrictions have increased airlines' operating costs, especially on long-haul routes. Aviation Turbine Fuel (ATF) accounts for around 40 per cent of a carrier's operational expenses.
Against this backdrop, the Federation of Indian Airlines (FIA) has written to the civil aviation ministry, seeking steps to extend the same fuel pricing mechanism uniformly across both domestic and international operations as was done in the past with the establishment of the crack band.
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With an unprecedented rise in jet fuel prices and exorbitant crack/differential between crude and ATF, the federation said the operation of airlines is being challenged in totality.
"... any ad hoc pricing (domestic vs international) and/or irrational increase in the price of ATF will result in unsurmountable losses for airlines and will lead to grounding of aircraft, resulting in cancellation of flights," the federation, which represents Air India, IndiGo and SpiceJet, said.
"In order to survive, sustain and continue operation, we request your urgent intervention for immediate and meaningful financial support to tide over the current situation," it said in a letter on April 26.
Also, the airlines have sought temporary deferment of excise duty on ATF, which is at 11 per cent.
"With the abnormal increase in ATF prices from the pre-crisis period, adding rupee depreciation to the increased prices, the 11 per cent excise duty also increases manifold for the airlines and adds to the ATF price as a big impact on airlines," they said.
Last month, the government limited the hike in ATF price to Rs 15 per litre for domestic operations, but for international operations, the price rose by Rs 73 per litre.
The airlines said the situation has practically made international operations, along with domestic operations, completely unviable and resulted in significant losses for the aviation sector in April.
Seeking urgent intervention on the current ATF ad hoc pricing, FIA said the current situation is creating a severe imbalance in domestic and international operations and rendering airline networks unviable and unsustainable.
"The airline industry in India is under extreme stress and is on the verge of closing down or of stopping its operations."
The federation has pitched for a transparent pricing framework under the crack band mechanism (USD 12–22/BBL) that was implemented in October 2022, saying there was a fair and reasonable margin for Oil Marketing Companies (OMCs).
According to FIA, the country's largest aviation hub Delhi has the second-highest value-added tax (VAT) of 25 per cent on jet fuel, while the highest rate is 29 per cent levied in Tamil Nadu.
"The other major aviation cities, viz. Mumbai, Bangalore, Hyderabad, and Kolkata range between 16 per cent and 20 per cent. These 6 cities cover more than 50 per cent of airlines' operations within India," the federation said.
