Karnataka Cabinet, chaired by Chief Minister Siddaramaiah, approves disbursement of long-term loan of Rs 137.85 crore – Karnataka News

The Karnataka Cabinet, chaired by Chief Minister Siddaramaiah, has granted administrative approval for the disbursement of a long-term loan of Rs 137.85 crore, provided by the Ministry of Finance under the Special Program of capital assistance.

The loan is aimed at supporting the state’s capital expenditure, and Minister HK Patil stressed that the decision was based on the state’s capacity and credibility. He stressed that the loan would support balanced development and ensure practicality in managing public welfare while minimizing the burden on the state.

The Cabinet has given the green light to several other important projects.

DHARWAD MUNICIPAL SOCIETY

The Hubli-Dharwad Municipal Corporation will now be bifurcated, creating an autonomous Dharwad Municipal Corporation. The move recognizes the cultural importance of Dharwad and aims to improve administrative efficiency in the region.

FINANCING VETERINARY INSTITUTIONS

These include construction of new buildings for 200 veterinary institutions, with a budget of Rs 100 crore, aimed at replacing dilapidated and rented facilities. The initiative is part of the state’s efforts to improve veterinary services with the help of NABARD.

BOOST FOR EDUCATION

The Cabinet also approved a budget of Rs 149.75 crore for construction of a constituent college of Visvesvaraya Technological University at Vadaganahalli, Chintamani taluk in Chikkaballapura. This project is expected to improve access to technical education in rural Karnataka, thereby meeting the growing educational needs of the state.

The Cabinet also approved the provision of essential items such as bedsheets, mosquito nets, tracksuits and nightwear for students in government residential schools and hostels in Kalyan Karnataka region. The total cost of these items is part of the Special Component Plan and Tribal Sub-Plan initiatives, ensuring better living conditions for students in these areas.

KIDB LOAN LIMIT EXPANSION

To boost the industrial sector, the Cabinet increased the borrowing limit of the Karnataka Industrial Area Development Board from Rs 500 crore to Rs 5,000 crore. This increase will enable the KIDB to finance more industrial development projects, thereby strengthening the state’s industrial capabilities.

CONSTRUCTION AND MODERNIZATION OF THE PORT

Besides, the Cabinet also approved the construction of a fishing port at Hejamady Kodi in Udupi district under the centrally sponsored scheme, with an estimated cost of Rs 209.13 crore. Another Rs 84.57 crore has been allocated for upgradation of existing fishing ports and carrying out maintenance dredging works.

The Cabinet also approved a 15 percent tariff increase for four transport companies, starting January 5.