K`taka govt mulls SPV for developing Bangalore

K`taka govt mulls SPV for developing Bangalore
Business Standard

The new JD(S)-BJP coalition government in Karnataka proposes to develop Bangalore as a ‘model’ city for the country. A special purpose vehicle (SPV) will be set up for the purpose on the lines of Karnataka Urban Infrastructure Development Corporation (KUIDFC), deputy chief minister B S Yediyurappa said.

The SPV will be set up soon and it will plan and execute various infrastructure projects for the city.

“We aim to develop Bangalore as the model city of the country. I have discussed the matter with chief minister H D Kumaraswamy and all the senior officials concerned of the government in this regard,” Yediyurappa said.

Addressing a press conference here on Wednesday, he said that the SPV will speed up various development projects in the city and work in coordination with authorities like the Bangalore Development Authority, Bangalore City Corporation and Bangalore Metropolitan Region Development Authority.

Yediyurappa said that the coalition government will announce its policies and programmes for the development of the state through the governor’s address to the joint session of the legislature on February 24. “We believe in less talk and more work. What we intend to do for the state will be announced very soon,” he said.

Commenting on the shape of the state budget, Yediyurappa, who is also the finance minister said that the budget will be pro-farmer and pro-common man. There will be no additional taxes in the ensuing budget and it will focus on plugging the revenue leakage and mobilisation of additional resources for the state exchequer.

“I have discussed with the chief minister the contents of the budget and the common minimum programme of the coalition government and it will be announced at Delhi on Thursday,” he stated.