K'taka inks MoUs for investments worth around Rs 10 lakh crore
Bengaluru, Nov 4: Karnataka has signed Memoranda of Understanding (MoUs) for investments worth nearly Rs 10 lakh crore, during the three-day Global Investors' Meet (GIM) - 'Invest Karnataka 2022', which concluded here on Friday.
Over Rs 2 lakh crore of these investment proposals, are said to be in the green energy sector.
"Investments (proposals) have come beyond our expectations...we are a very serious government and want serious investors...these MoUs are just an indicator. How much of these MoUs gets converted into investments is important," Chief Minister Basavaraj Bommai said addressing the valedictory function of GIM.
Stating that of the total MoUs worth Rs 9.8 lakh crore so far, projects worth Rs 2.83 lakh crore have been cleared already, which is 29 per cent realisation, he said, "We had actually expected investment (proposals) of Rs 5 lakh crore, but it has now come up to nearly Rs 10 lakh crore."
"I have given the timeline to the Industries Secretary that in next three months, all the MoUs should be decided, either they are on board or not. I want to give a report to my people and legislature after three months that so much was signed and so much has been realised into investment," he said, adding that all the niche areas have been covered for investments.
Industries Minister Murugesh Nirani, Power Minister Sunil Kumar, Union Minister of State for New and Renewable Energy Bhagwanth Khuba, top officials of the state government, and industry representatives were present at the event.
Noting that his government means business, the Chief Minister claiming to be candid, said what the administration is looking for is "genuine investors".
"I don't want guys, who get all the clearances from the government and try to market it in the stock market. No, we are not for that," he said.
He further listed out that in the first GIM in way back in 2000, MoUs for investments worth Rs 27,057 crore were signed, but only 44 per cent of it -- Rs 12,000 crore was invested.
In 2010, Rs 3,94,768 crore worth MoUs were signed, but only 14 per cent was realised, he said, adding that Rs 6,77,158 crore worth MoUs were inked in 2012 but only 8 per cent was realised; and in 2016, Rs 3,00,500 crore investment was promised, but only 15 per cent of it materialised.
"I dont want to repeat this. No government will reveal these figures, but I want to bring transparency and I want to be honest to people and investors," Bommai added.
Minister Nirani, in his address, said out of nearly Rs 10 lakh crore worth investment MoUs signed, more than 70 per cent are for "beyond Bengaluru".
He said the GIM hereon will be held every alternate year, and the next one will be in January 2025.
Minister Sunil Kumar said, in this GIM, about Rs 2 lakh crore worth investment proposals have come in the green energy sector, and his department is making all preparations for this large-scale investment to be realised and for possible power generation from it.
'Invest Karnataka-2022' is said to be the first such major investors conclave to meet in the country after the COVID-19 pandemic.
This investment summit is much more important than the previous ones, the Chief Minister said, adding that this was an extraordinary effort, during extraordinarily challenging times, amid recession, fear of inflation, and economic/financial crisis across the globe.
At a time when several developed countries that are economic powerhouses have been facing hard times, Karnataka in India "dared" to hold this conclave, he said, as he credited the trust reposed by the investors, strength of the people here, technology-driven industries, skilled manpower, a forward looking government and its policies, for it.
"With these kinds of assets -- what Karnataka thinks today, India thinks tomorrow," he quipped.
Speaking about the renewable or green energy sectors, Bommai said, "Proposals on hydrogen fuels, green ammonia, have already come and we have cleared in the state-level committee, and I'm sure we are going to compete with Gulf countries, as to who will produce it first."
"I want us to produce (green hydrogen) first. Of course, they (Gulf nations) have better infrastructure, but we have strong resolve and determination and we are at it. I want to see first renewable energy in hydrogen, will start breaking ground by February-March. That's our target," he said.
Highlighting that investment-friendly infrastructure is readily available beyond Bengaluru, the Chief Minister said there are more than 50,000 acres of land bank from across the state, airports are getting opened this year in Shivamogga, Vijayapura and in Karwar, besides 6,000 kms of national highway are getting ready.
He also said that Bengaluru, which is already renowned as a major IT hub, is now emerging as a financial centre, and very soon it will emerge as the number one in this space.
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LoP Ashoka targets CM govt over corruption, says being 'shameless' in public life not forgivable
Bengaluru (PTI): Targeting Chief Minister Siddaramaiah and the Congress government in Karnataka on corruption, BJP leader R Ashoka on Friday said, being foolish was forgivable, but being "shameless" in public life was not.
The Leader of Opposition in the state Assembly claimed that in just 30 months of its tenure, the Congress administration has broken every previous record on corruption-related controversies.
He was responding to Siddaramaiah's post on 'X' on Thursday hitting back at the BJP, stating that Upa Lokayukta Justice Veerappa's claims of "63 per cent corruption" were based on his report in November 2019, when BJP's B S Yediyurappa was the CM.
"But Ashoka, without understanding the Upa Lokayukta's statement properly, has ended up tying the BJP's own bells of sins onto our heads and has effectively shot himself in the foot," the CM had said, as he accused Ashoka of foolishness for trying to twist Veerappa's statement to target the current government.
Responding, Ashoka said, "it is one thing to be called foolish in politics, that can be forgiven."
"But in public life, especially in the Chief Minister's chair, one must never become shameless," Ashoka posted on 'X' on Friday addressing Siddaramaiah.
Noting that the CM himself had admitted on the floor of the Assembly that a Rs 87 crore scam took place in the Valmiki Development Corporation, he said that when a CM acknowledges such a massive irregularity inside the floor of the House, the natural expectation is immediate action and accountability.
"But instead of taking responsibility, you continue in office as if nothing has happened. What should the people of Karnataka call this, if not sheer shamelessness," he asked.
Pointing out that the CM's Economic Advisor and senior Congress MLA Basavaraja Rayareddy had publicly stated that under Congress rule, Karnataka has become No.1 in corruption, Ashoka said, "Yet, you still cling to the Chief Minister's chair without a moment of introspection. What should the people of Karnataka call this, if not sheer shamelessness."
Senior Congress MLA C R Patil had exposed the "money for House" racket in the Housing Department and even warned that the government would collapse if the details he has were made public, Ashoka said.
"Despite such serious allegations from within your own party (Congress), you neither initiated an inquiry nor acted against the concerned minister. What should the people of Karnataka call this, if not sheer shamelessness," Ashoka asked the CM.
Highlighting the "40 percent commission" allegation Congress made against the previous BJP government, the opposition leader said, the commission that the Siddaramaiah government appointed concluded that the accusation was baseless.
"After your own panel demolished your own claim, what moral right do you have to continue repeating that allegation. What should the people of Karnataka call this, if not sheer shamelessness," he asked.
For the last two and a half years, Karnataka has been 'drowning' in corruption, scandals, irregularities and allegations across departments. Ashoka said, "If I begin listing every case that emerged under your government, even 24 hours would not be enough."
"And the most tragic aspect of your administration is this: the unbearable pressure, corruption demands and administrative harassment under your government pushed several officers and contractors into extreme distress - including the suicide of Chandrasekharan which exposed the Valmiki Development Corporation scam - a sign of how deeply broken the system has become under your watch," he said.
Instead of fixing this hopeless environment, the government has tried to bury every complaint and silence every voice, he charged.
"Being foolish is forgivable, but being shameless in public life is definitely not."
"When your own ministers admit scams, when your own advisors certify Karnataka as No.1 in corruption, and when your own MLAs expose rackets inside your departments - clinging to power without accountability is not leadership. It is shamelessness in its purest form." PTI KSU
Earlier on Thursday Ashoka had demanded that the corruption case and allegations in the state against the Congress government be handed over to a CBI investigation, citing a reported statement by Upalokaykta Justice Veerappa alleging "63 per cent corruption", following which Siddaramaiah hit back at the BJP leader.
