URBAN DEVELOPMENT
Vijayendra seeks CM’s resignation over ‘illegal’ allotment of plots in Mysuru to wife
BJP State president BY Vijayendra called for Chief Minister Siddaramaiah's resignation over allegations that he misused power to unlawfully allot 14 prime plots in Mysuru to his wife Parvathamma. Vijayendra demanded cancellation of the allotments, a CBI investigation, and vowed to pursue the issue inside and outside the Legislature. He accused the CM of concealing his wife's extensive land holdings and criticized Urban Development Minister Byrathi Suresh's actions as suspicious. Siddaramaiah defended the allotment as a mistake by MUDA, denying any wrongdoing by his family.
MUDA Scam: Complaint filed against Karnataka CM Siddaramaiah, nine others
A complaint has been filed against Karnataka CM Siddaramaiah and officials for alleged forgery in MUDA plot transfers. Both sides present conflicting claims, with calls for impartial investigation. Stay updated on the latest developments.
Maharashtra government to bring new law to crack down on bogus pathology labs
The issue concerns the urban development, public health and medical education departments, Samant said. BJP MLA Ashish Shelar said bogus pathology labs were looting money and playing with people's lives. Several collection centres that have come up over the years should be registered, he said, demanding criminal cases against violators.
Illegal Allotment of Plots: Kumaraswamy asks Siddaramaiah to fight for same compensation for farmers he is seeking for wife
Union Minister Kumaraswamy calls for fair compensation for farmers, echoing CM Siddaramaiah's demand for his wife's land. Allegations of illegal plot allotments and political motives arise, with hints at Deputy CM's involvement. BJP accuses CM of favoritism in land deals.
Mysuru DC who flagged MUDA’s illegal plot allotments transferred
The State Government transferred Mysuru Deputy Commissioner following his investigation into illegal plot allotments by MUDA. BJP and Opposition leaders criticize the move, citing concerns of retaliation and interference with ongoing investigations.
HUA ministry extends deadline for Smart Cities Mission till March 2025
The Union housing and urban affairs ministry has announced an extension of the Smart Cities Mission deadline until March 2025, allowing completion of ongoing projects. This comes after requests from states facing delays. As of July 3, 2024, 100 cities have completed 90% of projects worth Rs 1,44,237 crore, with remaining projects in advanced stages. The allocated budget of Rs 48,000 crore has seen 97 per cent released by the Union government, with 93 per cent funds utilised.
BJP accuses Karnataka CM Siddaramaiah’s family of accepting 14 pricey plots illegally alloted in Mysuru
In a sensational turn of events, the controversy escalates as revelations surface about gifted land, MUDA's involvement in plot cancellations, and the ongoing investigation into the Mysore Urban Development Authority's actions. The plot compensation scheme, CBI investigation demands, and the 50:50 ratio basis for awarding plots to landowners add fuel to the political firestorm surrounding Chief Minister Siddaramaiah and his family.
BJP leaders take out protest march to Karnataka CM's residence, taken into preventive custody
On Wednesday, opposition BJP leaders attempted to besiege the Karnataka chief minister's office-cum-residence, alleging rampant corruption by the ruling Congress government. They were prevented and taken into custody. Among the leaders were BJP state president B Y Vijayendra, Leader of Opposition R Ashoka, and former ministers. The BJP claims a Rs 4,000 crore scam in the Mysuru Urban Development Authority (MUDA), implicating Chief Minister Siddaramaiah's wife, and a cover-up in a Rs 180 crore Valmiki Corporation scam, which allegedly led to an official's suicide. Ashoka demanded a CBI investigation into the MUDA scam.
Karnataka CM Siddaramaiah says allotment of MUDA plots in Mysuru for wife are lawful
Controversy surrounds CM Siddaramaiah's wife's MUDA plot allotments as Urban Development Minister Byrathi Suresh uncovers rule violations and lack of Cabinet approval, sparking a major investigation.
MMRDA inks Rs 850-crore urban infra financing pact with German development bank KfW
The funds procured from KfW and MMRDA's resources will be primarily allocated towards various sustainable development projects within and around the Mumbai Metropolitan Region. These initiatives include the development of green corridors, solid waste management systems, recycling and reuse facilities, and the promotion of renewable energy solutions to address environmental concerns and enhancing the quality of life for residents in the bustling metropolitan area.
In 2020, only 4% could not access an urban centre in India, reveals study
In 2020, only four per cent of India's population lacked access to an urban centre, according to a study published in the journal Nature Cities. The research, led by the Food and Agriculture Organization (FAO) of the United Nations, Italy, examined over 30,000 urban centres globally. The study highlighted that three per cent of India's population could only reach towns within an hour of travel.
Who is going to be Trump's vice-presidential choice; here's what he has to say
Donald Trump has announced that he has picked the vice-presidential candidate who will be his running mate in the upcoming elections in November. This announcement is expected in the upcoming Republican Party national convention in July.
Narela to benefit from new metro extension linking Delhi, UP, Haryana
The Union Finance Ministry has approved the 26-km Rithala-Narela-Kundli Delhi Metro corridor, awaiting final Cabinet approval. This Rs 6,231 crore project will enhance connectivity among Uttar Pradesh, Delhi, and Haryana, transforming the Narela sub-city. Funding is shared between the central and state governments, with significant contributions from the DDA and loans. The corridor, with 21 stations, will be a boon for Narela and Rohini sub-cities, improving access to key institutions and promoting regional development. Completion is expected in four years, with daily ridership projected to grow significantly by 2055.
Investing in youth-led community development for lasting change
Technology serves as a powerful enabler in pushing youth-led community development to achieve sustainable change in our communities.
Quant Smallcap Mutual Fund hikes holding in Adani Power, exits Hindalco, Britannia
Quant Small Cap Fund increased holdings in Adani Power in May. Fund exited stocks like Hindalco, Bharat Electronics, and Britannia, as per ETMutualFunds analysis.
Mall developers see opportunity in tier 2 cities
Brands include H&M, Marks & Spencer, GAP and Tasva set up shop in cities like Indore, Mangalore, Patna, Ranchi, Mysore, and Coimbatore, according to data from real estate consultancy CBRE.
Defence stocks: Long runway, hedge a bit to avoid narrative-based decisions; 8 PSU & Pvt sector stocks, 4 with upside potential of upto 44%
In an election season, there are bound to be times when one or the other narrative may make one question about whether one should sell the stocks. The underlying reason would be fear of losing the gains on which one is sitting. Especially when it comes to sectors like defence, railways and others which have seen a strong re-rating and siting with big gains and already there has been skepticism about their stock price moving ahead of time. Now let's look at the issue in two ways, first is whether the fundamentals of the sector are on a strong foot and business is fine or not. Second, how to hedge the exposure so that one is not forced to sell due to narrative, because the fact is that a continuation in policy push means that the companies have just started their journey. While defence PSUs are well known, there are other private sector players, whose lifeline is dependent on defence expenditure and in the last few years they have also done well, both on the street and in terms of real business. So, it is better that one should hedge and stay with them and not get jittery because of one or the other narrative which will keep hitting the street till 4th June.
Pledged $2.6 bn sovereign loans to India in 2023: ADB
The Asian Development Bank (ADB) has pledged $2.6 billion in sovereign lending to India in 2023 for projects aimed at urban development, industrial corridor projects, power reforms, climate resilience, horticulture, and connectivity. The multilateral lender also committed over $1 billion for private sector projects and extended $23.53 million in technical assistance and $4.1 million in grants.
ADB commits USD 2.6 billion in sovereign lending to India
Asian Development Bank (ADB) committed USD 2.6 billion (about Rs 21,500 crore) in sovereign lending to India in 2023 for various projects. The fund is aimed to strengthen urban development, support industrial corridor development, promote power sector reforms, build India's climate resilience, and enhance connectivity.
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