Karnataka govt spending over Rs 1 lakh cr to improve infrastructure in Bengaluru city: Shivakumar
Bengaluru (PTI): Pitching Bengaluru as an "ever-evolving engine of transformation", Karnataka Deputy Chief Minister D K Shivakumar on Tuesday said that the state government is improving the infrastructure by spending over Rs 1 lakh crore on the city.
Shivakumar, who is also the Minister incharge of Bengaluru Development, was speaking at the inaugural of the 28th edition of Bengaluru Tech Summit 2025.
Touted to be Asia's largest technology event, it is being organised by the Department of Electronics, IT & Bt, Government of Karnataka and Software Technology Parks of India (STPI).
"We recognise that technology, innovation, and investment flourish only when the foundations are strong. That's why our government is accelerating infrastructure at unprecedented speed," Shivakumar said.
Addressing the gathering, he highlighted that the government has launched mega infrastructure projects in Bengaluru -- twin tunnel project of 40 KMs at Rs 42,500 crore, double Decker Metro 41 KMs at Rs 18,000 crore, elevated corridor 110 KMs at Rs 15,000 crore, buffer roads 320 KMs at Rs 5,000 crore, SkyDeck at Rs 500 crore, and Bangalore Business Corridor of 74 KMs at Rs 27,000 crore.
"We are spending over 1 lakh crore on Bengaluru city to improve infrastructure," he added.
Pointing out that a second airport is being planned for Bengaluru, the Deputy CM said, in order to help and co-ordinate the NRI's, the Government of Karnataka is starting a separate Secretariat for NRIs.
"We are developing residential layouts for NRI's; a world class city near Bidadi in 9,000 acres - AI City. We are building an international complex to house all international business houses," he said, adding that no other cities match Bengaluru weather and culture.
Asserting that technology and talent are Bengaluru's twin pillars, Shivakumar said, Bengaluru's strength lies not just in its infrastructure or policy incentives--it lies in its people.
Appealing industry captains to help the government in making rural education strong with CSR, while stating that necessary policies are being brought in this regard, the Deputy CM said, together, let us build a future where technology, creativity, and enterprise create opportunities not only for our state or our country, but for the entire world.
"I assure you on behalf of Karnataka that we will co-operate and extend all possible support for mutual growth," he said.
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 falls 9 paise to all-time low of 90.58 against US dollar in early trade
Mumbai (PTI): Rupee depreciated 9 paise to an all-time low of 90.58 against US dollar in early trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
Forex traders said rupee is trading with a negative bias as investors are in wait and watch mode and awaiting cues from the India-US trade deal front.
At the interbank foreign exchange market, the rupee opened at 90.53 against the US dollar, then fell further to an all-time intraday low of 90.58 against the greenback, registering a fall of 9 paise over its previous close.
On Friday, the rupee had slipped 17 paise to close at an all-time low of 90.49 against the American currency.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 98.35.
Brent crude, the global oil benchmark, was trading higher by 0.52 per cent at USD 61.44 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex was trading 298.86 points lower at 84,968.80, while the Nifty was down 121.40 points at 25,925.55.
Foreign Institutional Investors sold equities worth Rs 1,114.22 crore on Friday, according to exchange data.
"FPIs continue to be in selling mode in equity and debt while RBI has been selling dollars to fund their long positions," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
