Lightning claims 94 lives in state: Deshpande
Govt. to give Rs 8.63 cr compensation for rain-related damages
Bengaluru, June 11: As the state has received 54 per cent more rains than normal rainfall in this season, total 104 persons lost their lives in the rain-related casualties and all of them were given Rs 5 lakh compensation each, said Revenue Minister RV Deshpande.
Speaking to reporters at the Vidhana Soudha here on Monday, the Minister said that all district administrations were directed to give compensation to the loss of lives and properties in the recent rains. As of now, there is no dearth for funds in the state. There is Rs 186 crore available in the deputy commissioners account and the State Disaster Management Authority has Rs 320 crore. This fund would be utilized for compensating the losses. Survey is being conducted to assess the crop loss and soon after getting the report, a proposal would be submitted to the centre for funds, he said.
Lightning claims 94
Out of total 104 people who lost their lives in the rain-related incidents, 94 persons died due to lightning and remaining 10 persons washed away in the rainwater. Out of total 2238 houses damaged in the rains, 189 houses were completely damaged, while 2101 houses were partially damaged. Each partially damaged house was given Rs 5200 and completely damaged house was given Rs 95,100 compensation. Apart from human lives, 332 cattle lost their lives and each cattle was given Rs 25,000 compensation. Total Rs 8.63 crore compensation was given from the State Disaster Management Funds, the Minister said.
Drinking water situation improved
As the monsoon advanced in the state, drinking water situation is improved a little bit. As of now, only 248 villages are facing the water scarcity and 401 tankers were being used to supply water to the needy villages, he said.
Following good rains in most parts of the state, agriculture activities are active and the Agriculture department has taken steps to distribute seeds and fertilizer on time. There is no scarcity of seeds and fertilizer in the state, he said.
Revenue department senior officers Ramana Reddy, Gangaram Baderia, Mounish Mudgil and others were present.
Surveyors appointment
Steps were taken to appoint the vacant surveyors posts in the state. Shortly appointment order will be issued to 1067 surveyors who are undergoing training. Title deeds would be issued to the bagair hukum farmers as per the norms.
- Revenue Minister RV Deshpande
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Rupee strengthens past 90/USD level in early trade
Mumbai (PTI): The rupee appreciated 24 paise to 89.96 against the US dollar in early trade on Friday, supported by corporate dollar inflows and easing crude oil prices.
Forex traders said the gain in the USD/INR pair follows the rupee’s string of record lows in recent weeks on likely intervention from the Reserve Bank of India.
Moreover, crude oil prices hovering around USD 59 per barrel level supported market sentiment.
ALSO READ:Rupee trades in narrow range against US dollar in early trade
At the interbank foreign exchange market, the rupee opened at 90.19 against the US dollar, then gained some ground and touched 89.96 against the US dollar, registering a gain of 24 paise over its previous close.
In initial trade it also touched 90.22 against the American currency. On Thursday, the rupee appreciated 18 paise against the US dollar to close at 90.20 against the greenback.
The rupee sank to a fresh record low, breaching the 91-a-dollar mark for the first time on Tuesday.
"Since the speculators are out of the market the buying of US dollar syndrome has come down a bit though intra-day we could see spikes," said Anil Kumar Bhansali Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
The US CPI came lower than expected but was also due to non-collection of sufficient data and therefore, the next month’s CPI becomes more important, Bhansali said, adding that "Rupee remains in a range of 90-90.50".
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.04 per cent higher at 98.46.
Brent crude, the global oil benchmark, was trading lower by 0.27 per cent at USD 59.66 per barrel in futures trade.
On the domestic equity market front, the 30-share benchmark index Sensex climbed 375.98 points to 84,857.79, while the Nifty was up 110.60 points to 25,934.15.
Foreign Institutional Investors purchased equities worth Rs 595.78 crore on Thursday, according to exchange data.
Meanwhile, Economic Advisory Council to the Prime Minister (EAC-PM) member Sanjeev Sanyal on Thursday said he is not concerned about the rupee at all, arguing that even China and Japan witnessed exchange rate weaknesses during their high growth phases.
Speaking at 'Times Network's India Economic Conclave 2025', Sanyal said since the 90s, the rupee has mostly been allowed to find its own level, but the RBI uses its reserves to intervene in either direction to stop excessive volatility.
"I am not concerned about the rupee at all... Let me say that the rupee and its current weakness should not be necessarily conflated with some economic worry, because historically, if you go over time, you will see that economies that are in their high growth phase very often go through a phase of exchange rate weakness," he said.
