When India’s GDP declines, Karnataka set to record higher growth rate of 8.5%

News Network
February 17, 2018

Buoyed by a robust growth in services sector, the Gross State Domestic Product (GSDP) of Karnataka is set to record higher growth rate of 8.5% even as the country's GDP growth is projected to decline to 6.5% in 2017-18 as compared to 7.1% in 2016-17 at constant prices (2011-12).

According to the state Economic Survey for 2017-18 tabled in the legislature ahead of the Budget for 2018-19 by Chief Minister Siddaramaiah, the services sector is expected to grow by 10.4% in 2017-18 as against a growth of 8.9% during 2016-17.

During the last few years, the services sector has been contributing a larger portion of GSDP. The share of the sector saw a marginal increase from 65.53% in 2016-17 to 66.63% in 2017-18. The contribution of real estate, professional services and ownership of dwellings is highest with 35% in 2017-18, followed by manufacturing (13.88%), trade and repair services (9.27%) and crops (7.68%), the survey said.

GSDP is the most important indicator in measuring economic growth of the state. While in 2016-17, the country's GDP was 7.1% at Rs 1,21,96,006 crore at constant (2011-12) prices, the state's GSDP was growing at 7.5% at Rs 8,74,395 crore. This is now (2017-18) expected to grow at 8.5% and reach Rs 9,49,111 crore.

The gross state value added (GSVA) growth rate of agriculture and allied sector in 2017-18 has been lowered to 4.9% compared to 5.7% in 2016-17 on account of the decline in the area under tur and paddy to 3 lakh hectares and 2 lakh hectares respectively, in kharif 2017-18 compared to 2016-17.

The industry sector, which comprises of mining and quarrying, manufacturing, construction and electricity, gas and water supply, is expected to grow by 4.9% in 2017-18 against a growth of 3.7% during 2016-17. Also, the state's real estate, professional services and ownership of dwellings, is expected to grow at 11.5% in 2017-18, whereas, the first revised estimates (FRE) of 2016-17 was 10%.

"Our government is managing finances without causing deficit of resources for the developmental schemes of the state, even in the midst of financial burden caused on account of waiver of farm loan and pay revision of government employees," Siddaramaiah said in his Budget speech.

The Net State Domestic Product (NSDP) at constant prices is estimated at Rs 8,48,692 crore, showing a growth of 8.5%. The NSVA growth of agriculture and allied activities, industry and services sectors are expected to be 4.8%, 4.8% and 10.3% respectively, the survey added.

Per capita state income of Karnataka (at current prices) is estimated to increase by 10.9% to touch Rs 1,74,551 during 2017-18, against Rs 1,57,436 in 2016-17. In 2015-16, it was Rs 1,42,267. Karnataka's per capita income is higher by 56.2% over all-India per capita income for 2017-18, which is Rs 1,11,782. The level of per capita state income at constant prices is also expected to grow from Rs 1,20,496 during 2016-17 to Rs 1,29,362 for 2017-18 to reach an increase of 7.4%.

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Media Release
February 28,2025

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ಫೆಬ್ರವರಿ 22 ನೇ ಶನಿವಾರ ಸಂಜೆ ದುಬೈ ಡೌನ್ ಟೌನ್ ನ ಪಂಚತಾರಾ ಹೋಟೆಲ್ ಪುಲ್ಲ್'ಮನ್ ನಲ್ಲಿ ಅಲ್ ಮಿರಾತ್ ರಿಯಲ್ ಎಸ್ಟೇಟ್ಸ್ 2025 ರ ವಾರ್ಷಿಕೋತ್ಸವವನ್ನು ವಿಜೃಂಭಣೆಯಿಂದ ಆಚರಿಸಿತು.

ಮುಖ್ಯ ಅತಿಥಿಯಾಗಿ ಮಾನ್ಯ ಅಬ್ದುಲ್ಲ ಅಹಮದ್ ಶಿಝಾವಿ (Chairman of Total Building Contracting) ಯವರು ಭಾಗವಹಿಸಿ ಕಾರ್ಯಕ್ರಮಕ್ಕೆ ಮೆರುಗು ನೀಡಿದರು. ಸಭೆಯನ್ನು ಉದ್ದೇಶಿಸಿ ಮಾತನಾಡಿದ ಅವರು ದುಬೈ ರಿಯಲ್ ಎಸ್ಟೇಟ್ ಕ್ಷೇತ್ರದಲ್ಲಿ ಮಿರಾತ್ ನ ಕೊಡುಗೆ ಪ್ರಶಂಶನೀಯ, ಸಂಸ್ಥೆಯು ಈ ಮಟ್ಟಕ್ಕೆ ಸಾಧನೆಗೈಯಲು ಮಾಲಕರ ಅನುಭವೀಯ ಮಾರ್ಗದರ್ಶನ ಹಾಗೂ ಉದ್ಯೋಗಿಗಳ ಟೀಂ ವರ್ಕ್ ಮೂಲ ಕಾರಣ ಎಂದರು. ಮುಂದಿನ ವರ್ಷಗಳಲ್ಲಿ ದುಬೈ ರಿಯಲ್ ಎಸ್ಟೇಟ್ ಕ್ಷೇತ್ರದಲ್ಲಿ ಮಿರಾತ್ ಉತ್ತಮ ಪ್ರಗತಿಯನ್ನು ಸಾಧಿಸಲಿ ಎಂದು ಶುಭ ಹಾರೈಸಿದರು.

ಕಾರ್ಯಕ್ರಮದಲ್ಲಿ ಅಬ್ದುಲ್ ರಹಿಮಾನ್ ರನ್ನು 2024 ರ BEST PERFORMER,  ಅಹಮದ್ ಕಬೀರ್ ರನ್ನು RISING STAR, ಅಶ್ರಫ್ ಅಹಮ್ಮದ್ ರನ್ನು EMPLOYEE OF THE YEAR ಹಾಗೂ ಮೊಹಮ್ಮದ್ ರಿಝ್ವಾನ್ ರನ್ನು OUTSTANDING FEEDBACK ಪ್ರಶಸ್ತಿಗಳನ್ನು ನೀಡಿ ಗೌರವಿಸಲಾಯಿತು.

ಮಿರಾತ್ ರಿಯಲ್ ಎಸ್ಟೇಟ್ ನ ಚೇರ್ಮನ್ ಶ್ರೀ ಸಾದಿಕ್ ಅಲಿ ಯವರು ಮಾತನಾಡಿ ರಿಯಲ್ ಎಸ್ಟೇಟ್ ನ ಹೂಡಿಕೆಗೆ ದುಬೈ ಅತ್ಯುತ್ತಮ ಮಾರುಕಟ್ಟೆಯಾಗಿದೆ. 2024 ರಲ್ಲಿನ ಆಸ್ತಿ ಖರೀದಿದಾರರಲ್ಲಿ 51% ಭಾರತೀಯರು ಮಾತ್ರವಲ್ಲ ಆ ವರ್ಷ 760 ಬಿಲಿಯನ್ ದಿರಾಮ್ ನ ದಾಖಲೆಯ ಪ್ರಾಪರ್ಟಿ ವಹಿವಾಟು ನಡೆದಿದೆ ಎಂಬ ಮಾಹಿತಿಯನ್ನು ನೀಡಿದರು. ನಮ್ಮ ಸಂಸ್ಥೆಯು ಉತ್ತಮ ಹಾಗೂ ಗುಣಮಟ್ಟದ ಸೇವೆಗೆ ಗ್ರಾಹಕರ ಪ್ರಶಂಸೆಗೆ ಪಾತ್ರವಾಗಿದೆ.

ಕಾರ್ಯಕ್ರಮದಲ್ಲಿ ಅತಿಥಿಗಳಾಗಿ ಮಾನ್ಯ ಮೊಹಮ್ಮದ್ ಅಬ್ದುಲ್ರಹೀಮ್ ಮೊಹಮ್ಮದ್ ಎ ಅಲಹಮ್ಮದ್, ಮಾನ್ಯ ಯಾಸರ್ ಅಬ್ದುಲ್ಲ ಅಬ್ದುಲ್ ಖಾದರ್ ರವರು ಭಾಗವಹಿಸಿದ್ದರು.

ಅಬ್ದುಲ್ಲಾ ಹಮ್ದಾನ್ ಸಂಸ್ಥೆಯ ವಾರ್ಷಿಕ ವರಧಿಯನ್ನು ಮಂಡಿಸಿದರು, ಅತಿಥಿಗಳ ಸ್ವಾಗತ ಹಾಗೂ ಧನ್ಯವಾದವನ್ನು ರಿಧಾನ್ ರಶೀದ್ ನೆರವೇರಿಸಿದರು. ರಿಝ್ವಾನ್ ಕಾರ್ಯಕೃಮ ನಿರೂಪಿಸಿದರು.

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News Network
March 1,2025

The Trump administration has given the go-ahead for a nearly $3 billion arms sale to Israel, sidestepping the standard congressional review process to expedite the delivery of 2,000-pound bombs widely used by the Israeli military in its ongoing onslaught in the Gaza Strip.

In a series of notifications sent to Congress on Friday, the State Department has reported it has approved the sale of more than 35,500 MK 84 and BLU-117 bombs and 4,000 Predator warheads worth $2.04 billion to Israel.

Secretary of State Marco Rubio “has determined and provided detailed justification that an emergency exists that requires the immediate sale to the Government of Israel of the above defense articles and defense services in the national security interests of the United States, thereby waiving the Congressional review requirements,” the department said.

Deliveries are set to begin next year, it said.

According to the same statement, Rubio has also approved another munitions sale to Israel worth $675.7 million to be delivered starting in 2028.

The Israeli regime has extensively used the MK 84, also known as the 2,000-pound bomb, in its genocidal wars against the people of Lebanon and Palestine, including the assassination of top Hamas and Hezbollah leaders.

Last May, the previous US administration attempted to curb Israel’s military aggression in Rafah, a city in southern Gaza, by imposing a temporary ban on the sale of 2,000-pound bombs.

This effort, however, proved futile in halting the invasion, as the US continued to supply other weapons to the Israeli regime.

On February 25, Trump’s National Security Adviser, Michael Waltz, rescinded the ban to allow the State Department to resume the sale of the bombs to the regime.

The State Department has also approved the sale of Caterpillar D9 Bulldozers and related equipment for an estimated cost of $295 million to Israel.

The Israeli regime has used D9 bulldozers to demolish thousands of Palestinian homes in the occupied West Bank and Gaza.

The Office of the UN High Commissioner on Human Rights has advised Caterpillar Inc. that by supplying the bulldozers to the regime, it is complicit in human rights violations.

D9 has been involved in several incidents of civilian deaths, including in 2023 when it was used against the refugees sheltering outside the Kamal Adwan Hospital.

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Agencies
March 10,2025

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Kannada actor Harshavardhini Ranya – also known as Ranya Rao, arrested for smuggling gold from Dubai – was allotted land to set up a steel plant by the previous Karnataka government in February 2023, said the Karnataka Industrial Area Development Board (KIADB) said on Sunday.

Ranya Rao was found to be in possession of gold bars worth ₹12.56 crore at the Kempegowda International Airport in Bengaluru. Searches were also conducted at her residence, and gold jewellery worth ₹2.06 crore and Indian currency amounting to ₹2.67 crore were seized, the Directorate of Revenue Intelligence had said on Wednesday.

Ranya is the stepdaughter of DGP-rank senior IPS officer Ramachandra Rao.

The KIADB's statement comes after reports claimed that a company linked to Ranya Rao was allotted 12 acres of industrial land by the board in 2023.

The office of the minister for medium and large industries MB Patil shared the government's final notification issued on February 22, 2023, regarding the allocation of land to Ranya Rao's firm Ksiroda India at the Sira Industrial Area in the Tumakuru district, news agency PTI reported.

The Congress came to power after defeating the Basavaraj Bommai-led Bharatiya Janata Party in the Karnataka assembly election in May 2023.

The proceedings of the Karnataka government, shared by the minister's office, said, "Approval to the proposal of M/s Ksiroda India Private Limited to establish a unit for manufacture of 'steel products - TMT bars, rods and allied products' at Sira Industrial Area, Tumakuru district.

"The government is pleased to accord in-principle approval to the investment proposal of ₹138 crore, generating employment to about 160 persons with the following infrastructure assistances, incentives and concessions," it said.

In a press release issued by MB Patil's office, the KIADB said the allotment to the company linked to Ranjya Rao was done in January 2023.

KIADB CEO Mahesh said on Sunday Ksiroda India was allotted 12 acres of land on January 2, 2023, by the previous government, referring to the BJP, the PTI report added.

"The land, located in Sira Industrial Area, Tumakuru district, was approved for allotment during the 137th State Level Single Window Clearance Committee (SLSWCC) meeting held on the same day, when the last govt was in power," PTI quoted Mahesh as saying.

According to the KIADB press release, the company had submitted a proposal to set up a manufacturing unit for steel TMT bars, rods, and allied products, with an investment of ₹138 crore. The project was expected to generate approximately 160 jobs.

Ramachandra Rao is currently serving as the chairman and managing director of the Karnataka State Police Housing and Infrastructure Development Corporation Ltd.

The total seizure in the case stood at ₹17.29 crore, including assets worth ₹4.73 crore, marking a significant blow to organised gold smuggling networks.

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