logo
WB okays USD 426 mn for Bengaluru Water Security project

WB okays USD 426 mn for Bengaluru Water Security project

Hans India4 days ago

Bengaluru: The World Bank has sanctioned USD 426 million for a new initiative to enhance water security for over four million residents in Bengaluru, officials said. Karnataka Water Security and Resilience Programme will also help Bengaluru mitigate flooding by reviving the city's 183 lakes, which act as natural sponges during heavy rainfall, said a press release.
'This will also help communities through early warning systems and improved responses to extreme weather by strengthening the Karnataka State Natural Disaster Monitoring Centre,' said Kristoffer Welsien and Anup Karanth, the task team leaders for the programme.
Auguste Tano Kouame, the World Bank's Country Director for India, said the programme will also help increase the revenues of the Bangalore Water Supply and Sewerage Board. 'It will mobilise USD 5 million in private capital. This will improve efficiency, replace aging water pipes, and tap the private sector to create innovative tools like smart water meters,' Kouame was quoted as saying in the release.
The programme will also ensure sewerage connections to over 1,00,000 households and facilitate the construction of nine Sewage Treatment Plants (STPs) to prevent sewage from entering lakes and drains. According to the release, treated wastewater will be reused for industrial purposes and for recharging groundwater in the Greater Bengaluru area.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

‘Invent in Telangana' to power 1 trillion dollar economy by 2035, says Minister Sridhar Babu
‘Invent in Telangana' to power 1 trillion dollar economy by 2035, says Minister Sridhar Babu

New Indian Express

time37 minutes ago

  • New Indian Express

‘Invent in Telangana' to power 1 trillion dollar economy by 2035, says Minister Sridhar Babu

HYDERABAD: IT and Industries Minister D Sridhar Babu on Sunday shared that Telangana's Index of Industrial Production (IIP) recorded a Compound Monthly Growth Rate (CMGR) of 2.9% in the first quarter of the current financial year, well above the national average of 0.52%. At the valedictory function of IITEX 2025, organised by FTCCI at HITEX, the minister said the state's Gross State Value Added (GSVA) from industry touched Rs 2.77 lakh crore in 2024–25, with notable growth in power consumption (15.6%), GST collections (9.8%) and payroll enrollments (13.9%). Highlighting the state's shift from 'Make in India' to 'Invent in Telangana', he said over Rs 3 lakh crore in investments had been attracted in the past 18 months, including Rs 40,000 crore in the life sciences sector. This has led to 150 new projects, creating over 51,000 direct and 1.5 lakh indirect jobs, he added. Sridhar Babu outlined a zonal development strategy: technology and services inside the ORR, manufacturing between ORR and RRR and agri-rural innovation beyond the RRR. The long-term goal, he said, is to grow Telangana's economy to USD 1 trillion by 2035 and USD 3 trillion by 2047. Sridhar also emphasised the government's focused efforts to strengthen MSMEs. 'In the past 18 months alone, over 15,000 new MSMEs have been established in Telangana. Our goal is to increase MSMEs' contribution to state's GSDP to 10%,' he said. A dedicated MSME policy is under implementation, with new parks being set up in every district, especially to support women, SC and ST entrepreneurs, the minister said. FTCCI president Suresh Kumar Singhal and other senior office-bearers were also present.

Rs 26654420000000 worth gold hidden inside houses, Turkey government unable to retrieve it because...
Rs 26654420000000 worth gold hidden inside houses, Turkey government unable to retrieve it because...

India.com

time40 minutes ago

  • India.com

Rs 26654420000000 worth gold hidden inside houses, Turkey government unable to retrieve it because...

Rs 26654420000000 worth gold hidden inside houses, Turkey government unable to retrieve it because… Turkey is currently dealing with tremendous pressure due to several reasons, but one of the primary concerns is the rapid increase in the country's current account deficit. The Middle Eastern country's current account deficit reached USD 20.3 billion between January and April this year. It is believed that a significant portion of gold is kept in households, remaining outside the banking system and untraceable by the government. Why Is Gold Kept In Homes? In Turkey, it's a decades-old tradition in which people prefer to keep gold and jewellery at home. This practice is known as under-the-pillow savings. When the government feels economic uncertainty, the government appeals to people for their help. The countrymen then use their personal gold. But normally, this gold remains out of the reach of banks and untraceable for the government. Rs 2665442 Crore Worth Gold Not Deposited In Banks According to an estimate by Turkey's central bank, there is about USD311 (approx 265442 crore) worth of physical gold kept in houses, and not deposited in the banks. Notably, this amount is many times more than the gold reserve of the central bank, which is currently, nearly USD 86.5 billion. Why Is Investing In Gold So Popular In Turkey? Similar to India, in Turkey, people also like to invest in gold and consider it a safe investment. During weddings, people also likes to give and take gold in the form of jewellery. In 2023, the Middle East country ranked fourth in the world in the consumption of gold jewellery, followed by China, India and the US. Turkey's economic downturn, marked by a sharply depreciating lira and soaring inflation (reaching 85 percent in 2022), has altered consumer gold purchasing habits. Investment-oriented gold coins and bars have replaced jewellery as the preferred form of gold acquisition. Distance From Banks And Fear Of Tax Another major reason is tax avoidance by the people. In Turkey, bank deposits are taxed, and details regarding the large transactions reach the government. On the other hand, gold kept in houses by the people is tax-free. Notably, when the government implemented a tax of 0.2 percent on gold purchases through banks in the month of March, the majority of the population started ignoring the formal system, buying gold in cash. Witnessing this, the Turkish government has made it mandatory to show an identity card for purchasing jewellery worth more than USD5,274. The sale of gold bars without a certificate has also been banned by the government to curb the practice. In 2016, President Erdogan requested people to deposit money and gold in banks so that the country's currency could be strengthened. The government even started the 'Gold Conversion System' under which people can deposit their gold in the bank through government-authorised jewellers. This scheme started in 2022.

Rolls-Royce La Rose Noire Spotted Overseas; Here's What Makes It Unique
Rolls-Royce La Rose Noire Spotted Overseas; Here's What Makes It Unique

NDTV

time41 minutes ago

  • NDTV

Rolls-Royce La Rose Noire Spotted Overseas; Here's What Makes It Unique

Rolls-Royce, the British luxury car manufacturer, unveiled one of the most exclusive cars in its catalog, the Rolls-Royce La Rose Noire, in 2023. It is priced at USD 30 million, making it pricier than the Rolls-Royce Boat Tail and Sweptail. Now, one of the four Droptails has been spotted at Pebble Beach, London. The Rolls-Royce La Rose Noire is credited as the brand's first modern two-seater, ditching the 2+2 configuration of the previously launched droptail models. The brand claims that the Rolls-Royce La Rose Noire seeks inspiration from the Black Baccara rose. Also, one of the most unique highlights of the La Rose Noire is that the users get a removable carbon fiber roof with the option to choose to get an open-air experience or install a hard roof. View this post on Instagram A post shared by Freddie Atkins (@tfjj) Rolls-Royce used 1,603 pieces of Black Sycamore veneer, symmetrical triangles are punctuated by asymmetrical red segments, creating an abstract artwork of falling rose petals that cosset the driver and passenger. The brand also claims that this creation took over 2 years and nine months for the artisan to create the craft. The other hand-made artwork also includes an abstract petal motif cascading across the aft deck, mirroring the interior parquetry. Resembling a yacht's jib, two angular sail cowls frame the geometric artwork. Under the hood, the Rolls-Royce La Rose Noire gets a 6.75-liter twin-turbo V12 engine, churning out a maximum power and torque output of 563 hp and 847 Nm. It is capable of springing from accelerating from 0 to 60 mph in just 4.8 seconds and boasts a top speed of 155 mph.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store