Meeting to decide on location for Bengaluru's second airport soon: Minister MB Patil
Bengaluru: A meeting will be convened soon to decide the location for the proposed second airport for the city, Karnataka Minister for Infrastructure M B Patil said on Sunday.
Before making a final decision, the government would consider two main aspects: passenger load and connectivity to the existing Kempegowda International Airport , he said.
"If we prioritise passenger load, areas such as Sarjapura and Kanakapura Road are strong contenders. On the other hand, if connectivity to the existing airport becomes a priority, places like Tumkur and Dabaspete will be in the lead," Patil said.
"These considerations will be discussed in the next departmental meeting and further reviewed with the chief minister. The matter will also be taken up in the cabinet meeting," he told reporters.
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The exclusivity clause with the KIA's operator Bengaluru International Airport Limited which restricts the establishment of another airport within a 150-kilometer radius, ends in 2032, allowing the potential development of a new airport by 2033.
Considering the time required for land acquisition and compensation for landowners, the government has initiated the planning process, the minister said.
Highlighting that major cities like New York and London have multiple airports in close proximity, he said, "In Mumbai, the distance between the two airports is 36 kilometers."
Regarding the Tamil Nadu government's decision to build an airport in Hosur, Patil mentioned that it needs to be examined whether the exclusivity clause with BIAL applies to this situation.
Noting that KIA is the third busiest airport in the country, following Delhi and Mumbai, the minister's office had recently said, last year the airport handled 37.5 million passengers and over 4,00,000 tonne of cargo.
The current airport is projected to reach its peak passenger handling capacity by 2033 and its maximum cargo handling capacity by 2040, it has said.
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Rupee falls 32 paise to all-time low of 95.20 against US dollar
Mumbai, Apr 30 (PTI): The rupee depreciated 32 paise to an all-time low of 95.20 against the US dollar in early trade on Thursday, weighed down by elevated Brent crude oil prices, hovering around USD 122 per barrel, and strong American currency.
Forex traders said the USD/INR pair may see further downside, as rising crude oil prices are likely to sharply impact India's import costs, while concerns over potential wider conflict in West Asia are fuelling investor anxiety.
Meanwhile, the US dollar added to gains after the US FED Reserve kept rates unchanged. Safe-haven demand was also boosted by another diplomatic setback between Washington and Tehran.
At the interbank foreign exchange market, the rupee opened at 95.01 against the US dollar, then lost some ground and touched an all-time low of 95.20 against the US dollar in initial trade, registering a fall of 32 paise over its previous close.
On Wednesday, the rupee depreciated 20 paise to close at an all-time low of 94.88 against the US dollar.
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"The main effect on the rupee has been from the rising oil prices, which touched USD 120 per barrel and looked headed for further upside as the US continues with its blockade of Iranian ports, while Iran does not allow any ship/tanker to pass through the Strait of Hormuz," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.01 per cent higher at 98.96.
Brent crude, the global oil benchmark, was trading higher by 3.16 per cent at USD 121.76 per barrel in futures trade.
On the domestic equity market front, Sensex tumbled 821.79 points to 76,674.57 in early trade, while the Nifty dived 287.3 points to 23,890.35.
Foreign Institutional Investors offloaded equities worth Rs 2,468.42 crore on Wednesday, according to exchange data.
"FPIs continue with their sale of Indian Equities and debt (the yield touched 7 per cent on Wednesday) and are also dollar buyers consistently," Bhansali added.
