Bengaluru to get ₹1.04 lakh crore development boost: Deputy CM D.K. Shivakumar
Bengaluru: Deputy Chief Minister D.K. Shivakumar announced that the Karnataka government has prepared a comprehensive ₹1.04 lakh crore development plan for Bengaluru, which will be implemented over the next four to five years. The initiative includes tunnel roads, elevated corridors, double-decker flyovers, buffer roads, LED streetlight installations, and city beautification projects such as decorative lighting.
Speaking to reporters after interacting with citizens at the “Bengaluru Nadige” (Walk for Bengaluru) programme held at the Veer Yodha Park in Koramangala on Sunday, Shivakumar said the government intends to bring administration closer to the people.
“To ensure effective governance, we have created five municipal divisions within the city. The grievances and suggestions received today have been recorded, and our officials will follow up with citizens,” he said.
Highlighting the state’s welfare priorities, Shivakumar stated that the government is spending ₹52,000 crore annually to implement the five guarantee schemes aimed at providing relief from inflation and ensuring basic needs for citizens. In addition, ₹20,000 crore is being allocated every year to supply free electricity to farmers. “In total, nearly ₹1 lakh crore is being dedicated annually to welfare and public benefit programmes,” he added.
The Deputy CM also urged citizens to take advantage of the government’s property documentation drive. “We have provided an opportunity for everyone to get their e-khata prepared and to convert ‘B Khata’ properties to ‘A Khata’. Do not miss this chance,” he advised.
Responding to public concerns regarding CA (Civic Amenities) sites, Shivakumar said the government is formulating a specific policy to address the issue. He further mentioned that the responsibilities previously handled by the Bangalore Development Authority (BDA) have now been transferred to the Greater Bengaluru Authority (GBA).
Minister Ramalinga Reddy, GBA Chief Commissioner Mahadeshwar Rao, and other senior officials were present at the event.
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India proposes preferential trade agreement with Mexico to deal with high tariffs
New Delhi (PTI): India has proposed a preferential trade agreement (PTA) with Mexico to help domestic exporters deal with the steep tariffs announced by the South American country, a top government official said on Monday.
Mexico has decided to impose steep import tariffs - ranging from about 5 per cent to as high as 50 per cent on a wide range of goods (about 1,463 tariff lines) from countries that do not have free trade agreements with Mexico, including India, China, South Korea, Thailand and Indonesia.
Commerce Secretary Rajesh Agrawal said that India has engaged with the country on the issue.
"Technical level talks are on...The only fast way forward is to try to get a preferential trade agreement (PTA) because an FTA (free trade agreement) will take a lot of time. So we are trying to see what can be a good way forward," he told reporters here.
While in an FTA two trading partners either significantly reduce or eliminate import duties on maximum number of goods traded between them, in a PTA, duties are cut or removed on a limited number of products.
Trading partners of Mexico cannot file a compliant against the decision on imposing high tariffs as they are WTO (World Trade Organisation) compatible.
The duties are within their bound rates, he said, adding that their primary target was not India.
"We have proposed a PTA because its a WTO-compatible way forward... we can do a PTA and try to get concessions that are required for Indian supply chains and similarly offer them concessions where they have export interests in India," Agrawal said.
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Citing support for local production and correction of trade imbalances, Mexico has approved an increase in MFN (most favoured nation) import tariffs (5-50 per cent) with effect from January 1, 2026 on 1,455 tariff lines (or product categories) within the WTO framework, targeting non-FTA partners.
Preliminary estimates suggest that this affects India's around USD 2 billion exports to Mexico particularly -- automobile, two-wheelers, auto parts, textiles, iron and steel, plastics, leather and footwear.
The measure is also aimed at curbing Chinese imports.
India-Mexico merchandise trade totalled USD 8.74 billion in 2024, with exports USD 5.73 billion, imports USD 3.01 billion, and a trade surplus of USD 2.72 billion.
The government has been continuously and comprehensively assessing Mexico's tariff revisions since the issue emerged, engaging stakeholders, safeguarding the interests of Indian exporters, and pursuing constructive dialogue to ensure a stable trade environment benefiting businesses and consumers in both countries.
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Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai has said that Mexico's decision is a matter of concern, particularly for sectors like automobiles and auto components, machinery, electrical and electronics, organic chemicals, pharmaceuticals, textiles, and plastics.
"Such steep duties will erode our competitiveness and risk, disrupting supply chains that have taken years to develop," Sahai said, adding that this development also underlines the little urgency for India and Mexico to fast-track a comprehensive trade agreement.
Domestic auto component manufacturers will face enhanced cost pressures with Mexico hiking duties on Indian imports, according to industry body ACMA.
