ED notice to B M Farookh over FEMA violation

News Network
April 17, 2018

Bengaluru, Apr 17: The Enforcement Directorate has issued a notice to realtor and Janata Dal (Secular) chief general secretary B M Farookh in a case of FEMA (Foreign Exchange Management Act) violation.

Farookh, who unsuccessfully contested for the Rajya Sabha seat on a JD(S) ticket, has been asked to appear before the ED officials on Tuesday.

Sources said that the notice had been issued to Farookh for FEMA violations in funds invested in real estate. He has been asked to produce his passport, Aadhaar, details of assets and balance sheets of his firms.

With declared assets of Rs 770 crore, Farookh was the richest candidate to contest Rajya Sabha polls from the state in 2016 and in March 2018. Farookh is the younger brother of B A Mohiuddin Bava, Congress MLA from Mangaluru north. Besides real estate business, Farookh has investments in renewable energy sector.

Comments

Kumar
 - 
Tuesday, 17 Apr 2018

ED may need to check his brother Bava's too

JDS Fan
 - 
Tuesday, 17 Apr 2018

Why only our leader..? search cong leaders in mangaulu. ED may findout much more

Danish
 - 
Tuesday, 17 Apr 2018

If ED start digging politicians asset matter properly may findout many benamy dealings and real estate investments.

Ganesh
 - 
Tuesday, 17 Apr 2018

HDK told he dont have money and his party too. Because of his "Health issues" he may forget Farookh matter

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News Network
January 9,2020

Udupi, Jan 9: State Revenue Minister R Ashoka said on Wednesday that the state government is embarking on a novel method to ensure that social security schemes were available to the beneficiaries at their doorsteps.

Speaking after inaugurating the Mini Vidhana Soudha here, he said government will look into the Aadhaar number and income certificates to decide the eligibility of the beneficiaries. The initiative will help the poor to access welfare schemes without any hassles.

The initiative will be launched as a pilot project in Udupi district. Later, the project will extend to other districts in a phased manner. In Udupi district, 30,000 beneficiaries have been identified. The government has set aside nearly Rs 7,000 crore for social security schemes. The initiative will not only eliminate middlemen menace but will help the government save Rs 1,000 crore.

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News Network
February 6,2020

Panaji, Feb 6: Goa Chief Minister Pramod Sawant on Wednesday told the Legislative Assembly that neighbouring Karnataka has diverted the Mahadayi river water, due to which its flow in the state has taken a hit.

He was speaking during a debate on the motion of thanks to Governor Satya Pal Malik for his address.

Goa and Karnataka are locked in a dispute over sharing of the Mahadayi river water. Goa is strongly opposing the Kalasa Banduri project proposed to be built by Karnataka on the river, which is aimed at providing drinking water to three north Karnataka districts by diverting the Mahadayi water into the Malaprabha river.

Speaking in the House, Sawant said that the flow of Mahadayi river has reduced due to the diversion of water by Karnataka.

"I am admitting that they (Karnataka) have diverted the water. We have brought it to the notice of the Union Ministry of Environment, Forest and Climate Change," he said.

The Goa government has explained to the Centre that the water which flows into the state is "not wasted".

"We have told them that the perennial flow of water is necessary for Goa's wildlife," he said.

Sawant said that his government was serious on the issue of Mahadayi.

"Mahadayi is more than a mother to me. We have not compromised anywhere on the issue. I have been associated with the Mahadayi agitation since 2000," the chief minister said.

He said the issue would be fought before the Supreme Court, where special leave petition has been filed by the state.

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News Network
March 8,2020

Bengaluru, Mar 8: The economic slowdown in the country had a cascading effect on Karnataka, as its growth rate for outgoing fiscal 2019-20 is projected to be 6.8 per cent against 7.8 per cent in the last fiscal (2018-19), a senior official said on Saturday.

"The Gross State Domestic Product (GSDP) is estimated to be 1 per cent less at 6.8 per cent for this fiscal from 7.8 per cent in the last fiscal due to slowdown in manufacturing (industry) and services sectors," an official of the state finance department told media.

Though the agriculture sector has revived from 1.6 per dent in the drought-hit last fiscal (2018-19) to register 3.9 per cent this fiscal, growth rates of industries and services will be 4.8 per cent and 7.9 per cent for 2019-20 against 5.6 per cent and 9.8 per cent respectively in 2018-19.

"The GSDP is projected to grow at 6.3 per cent in the ensuing fiscal of 2020-21 due to continued slowdown in the national economy," the official hinted.

According to the state's economic survey for 2019-20, the farm sector grew more than double to 3.9 per cent from 1.6 per cent a year ago due to increase in the production of foodgrains, dairy products and fish catch.

Foodgrain production across the state rose to 136 lakh tonnes from 128 lakh tonnes a year ago, the survey revealed.

"In line with the national Gross Domestic Product (GDP) growth rate decline, Karnataka's GSDP has declined from a high of 13.3 per cent in 2016-17 to a low of 6.8 per cent in 2019-20.

"The GSDP has declined from a double-digit growth of 10.8 per cent in 2017-18 to 7.8 per cent in 2018-19 and 6.8 per cent in 2019-20," the survey pointed out.

The survey has adopted the all-India growth rate for the services sector growth in the state, which reflects the impact of slowdown in the key sector.

At current prices, the southern state's GSDP is expected to be Rs 16,99,115 crore (budget estimates) with a 10 per cent growth rate in the next fiscal (2020-21).

"Real estate, professional services and ownership of dwellings contributed 35.31 per cent to the GSDP in 2019-20, followed by manufacturing with 15.32 per cent, trade and repair services 9.51 per cent and crops 7.44 per cent," said the survey findings.

Per capital income in the state at current prices is estimated to be Rs 2,31,246 in 2019-20, an increase of 8.8 per cent from Rs 2,12,477 in 2018-19.

"The per capita income in the state is 58.4 per cent more than that of all-India rate at Rs 1,35,050 in this fiscal," the survey added.

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