PM skipped temple visit due to security concern: Shobha Karandlaje

Feb 26: The Tamil Nadu government on Tuesday claimed that it prevented Karnataka from discussing the contentious Mekedatu reservoir issue at the Cauvery Water Management Authority (CWMA) meeting held in New Delhi.

Besides the representatives of Tamil Nadu and Karnataka at the fifth meeting of CWMA, presided over by Central Water Commission Chairman R K Jain, officials of Kerala and Puducherry also participated.

CWMA member and TN PWD Secretary K Manivasan told reporters after the meeting that the state government prevented Karnataka from discussing the dam issue by pointing out the pending petitions in the Supreme Court against the project filed by the E Palaniswami government.

"We have told participants of the meeting that Mekedatu reservoir will be against the interests of Tamil Nadu and its farmers. Our consistent stand is that it should not be built at any cost. Finally the issue was not discussed in the meeting," Manivasan said.

The Mekedatu reservoir is proposed to be constructed by Karnataka across Cauvery river near Mekedatu, about 110 km from Bengaluru, in Kanakapura taluk.

It was first proposed along with Shivanasamudra hydro power project at Shimsa in 2003 with an intention to use the water for a hydro power station and supply drinking water to Bengaluru city. It was designed to store 67 tmc feet of water.

While Tamil Nadu is claiming that the construction of a balancing reservoir will disturb Cauvery water flow to the state affecting irrigation, Karnataka says the project is basically designed to take care of the drinking water needs of Bengaluru after releasing water to Tamil Nadu as per the quantum specified by the Cauvery water disputes tribunal.

Bengaluru, Jun 10: The Karnataka government on Wednesday said coronavirus tests conducted in the state has crossed the four lakh mark, while the recovery rate remained at 44 per cent.

Sharing the daily COVID-19 bulletin on his Twitter handle, Medical Education Minister Dr K Sudhakar said till Tuesday 4,00,257 samples were tested in 71 COVID-19 testing labs across the state.

"Karnataka crossed 4 lakh tests mark on Tuesday. So far, we tested 4,00,257 samples in 71 #COVID19 testing labs across the state with a positivity rate of 1.4 per cent," he said.

He tweeted that the state's recovery rate remained healthy at 44 per cent with 2,605 discharges and 5,921 cumulative cases.

The minister said Karnataka was home to nearly a tenth of the total testing labs in India.

According to the Karnataka Health department, out of the four lakh odd samples tested, 3,87,027 samples were reported negative.

The total active cases in the state as on Tuesday evening were 3,248 whereas 66 people lost their lives to coronavirus so far.

Major contributors to the spike in COVID-19 cases in Karnataka are those who returned from Maharashtra recently.

New Delhi, Feb 2: Budget 2020 announcement that insurance behemoth LIC will be listed was well received by market participants who said this will be "IPO of the decade" akin to the Saudi Aramco listing.

Finance Minister Nirmala Sitharaman on Saturday said Life Insurance Corporation (LIC) will be listed as part of the government disinvestment initiative.

A "highlight of the budget is the LIC IPO, which is akin to the Saudi Aramco listing for Indian capital markets, and will be IPO of the decade," Vijay Bhushan, President, Association of National Exchanges Members of India (ANMI) said.

According to Krishna Kumar Karwa, Managing Director, Emkay Global Financial Services, the LIC IPO will be a big positive for corporate governance and transparency and will open up one more avenue for fund raising for the government over the years.

Metropolitan Stock Exchange, Interim CEO, Balu Nair said: "The LIC listing will be eagerly awaited by investors and will provide huge fillip to capital raising through the primary market." The government proposes to sell a part of its holding in LIC through an initial public offer, Sitharaman said while presenting Budget 2020-21.

"The government will sell part of LIC through its listing in the stock market which is also a positive trigger for the market," Amit Gupta, CO-Founder and CEO, TradingBells.

Jaideep Hansraj, MD and CEO of Kotak Securities said listing of LIC would help bridge a gap in the Fiscal Deficit for FY21.

Currently, the government owns the entire 100 per cent stake in LIC.

Saudi Aramco shares were listed in December last year.