'Gruha Jyoti' free electricity scheme can be availed by tenants as well: CM Siddaramaiah
Bengaluru (PTI): Karnataka Chief Minister Siddaramaiah on Tuesday said tenants are also eligible to avail the Gruha Jyoti' scheme, under which 200 units of free power will be provided to all domestic consumers in the state from July 1.
The clarification comes a day after the Congress government had issued guidelines to avail the free electricity under the scheme.
"We will provide free power (up to 200 units) to those living in rented accommodation as well. Poor people who consume less than 200 units of power will not have to pay the bills. This (scheme) will be applicable to the tenants," Siddaramaiah told reporters here.
He also clarified that this scheme was not applicable for commercial usage.
The 'Gruha Jyoti' scheme was one of the 5 guarantees promised by the Congress ahead of the 2023 assembly elections.
Reacting to BJP's protest against the power tariff hike as well as the state government's decision to revisit the anti-cow slaughter law enacted by the then Yediyurappa government, Siddaramaiah sought to know what moral right the saffron party has to protest.
The Chief Minister accused the BJP of 'plundering' the state when in power and bringing a bad name to the state.
"The BJP leaders are protesting because they have nothing else to do. What moral rights do they have?" he asked.
According to Siddaramaiah, the BJP did not fulfill any of its election promises such as 10 hours free power, waiving farm loans and spending Rs 1.5 lakh crore on irrigation.
Charging the BJP with finding fault with the pro-people measures, the CM said, "These people (BJP) are anti-people party. They looted and indulged in bribery when they were in power, brought a bad name to the state and then left. What to say when they come to preach us?"
Meanwhile, the BJP's protest against the hike in power tariff by Rs 2.89 per unit and state Animal Husbandry Minister K Venkatesh's remark over the anti-cow slaughter law, entered the second day.
Protests took place in different parts of the state including Bengaluru, Mysuru, and Davangere.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Rupee rises 10 paise to 92.41/USD; faces risks from rising global tensions
Mumbai (PTI): The rupee appreciated 10 paise to 92.41 against the US dollar in early trade on Friday, even as the USD/INR pair faces risks from rising global tensions, especially the US-Iran conflict.
Forex traders said the rupee is likely to see high volatility intra-day as the deadline for RBI's instructions to banks to curb their overnight positions to USD 100 million closes today.
At the interbank foreign exchange market, the rupee opened at 92.58 against the US dollar, then gained ground to touch 92.41 against the US dollar in initial trade, registering a gain of 10 paise over its previous close.
On Thursday, the rupee settled with a marginal gain of 3 paise at 92.51 against the US dollar.
"An estimated 80–85 per cent of these positions have already been unwound, which means the bulk of this supportive flow is now behind us. In simple terms, the cushion that held the rupee steady is beginning to thin, and this is where the story starts to shift," CR Forex Advisors MD Amit Pabari said.
Pabari further noted that looking ahead, the picture for the rupee appears to be changing. "With most of the NOP-related support now fading and global uncertainties still elevated, the scope for further strength seems limited. USDINR is likely to find a base in the 92.20–92.50 zone, with a gradual move higher towards 93.50–94.00 levels," he said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was higher by 0.07 per cent at 98.69 as the safe-haven demand has come down after the ceasefire, but as the ceasefire is fragile, the US dollar is getting bids at lower levels.
Brent crude, the global oil benchmark, was trading higher by 0.51 per cent at USD 96.44 per barrel in futures trade, as the ongoing uncertainty over the Strait of Hormuz opening is keeping the oil trade well bid.
Pabari further noted that just as domestic support begins to fade, the global backdrop is turning uneasy again. "The World Bank has flagged that India's growth for FY27, expected at 6.6 per cent, faces risks from rising global tensions, especially the Iran conflict," he said.
According to Pabari, India continues to have strong buffers in the form of forex reserves and a stable banking system, but pressure points are slowly beginning to build.
On the domestic equity market front, the stock markets witnessed a rebound in early trade. The 30-share Sensex jumped 630.08 points to 77,261.73, while the Nifty climbed 203.6 points to 23,978.70.
Foreign Institutional Investors offloaded equities worth Rs 1,711.19 crore on Thursday, according to exchange data.
_vb_63.jpeg)