The Siddaramaiah-led Karnataka cabinet has approved a series of infrastructure initiatives, including funding for the expansion of IIIT-Bengaluru. This decision follows the Invest Karnataka 2025 Global Investors’ Meet, which concluded last week.

The Rs 8.17 billion IIIT-B expansion project will receive Rs 2.85 billion from the state government, covering 35% of the project cost. An initial Rs 250 million will be allocated in the 2024-25 budget, with the remaining disbursed over seven years. IIIT-B is expected to raise the remaining funds through CSR initiatives.

Law and Parliamentary Affairs Minister HK Patil also announced the establishment of a Rs 750 billion cluster seed fund to promote startups beyond Bengaluru, focusing on cities like Mysuru, Hubballi, and Mangaluru. Additionally, the cabinet approved the creation of a semiconductor future accelerator lab 2.0, costing Rs 708 million, with the state contributing Rs 503.3 billion between 2025 and 2030.

The cabinet also approved outsourcing 306 skill trainers and ten professional coordinators for high schools in the Kalyana Karnataka region under the National Skill Qualification Framework. A new clean mobility policy was sanctioned to attract Rs 500 billion in investments and generate one lakh jobs.

Other key decisions include the retendering of an elevated rotary flyover at IOC Junction and a two-lane ROB at Baiyyappanahalli for Rs 4.26 billion, and the implementation of 16 water security projects in Bengaluru worth Rs 20 billion, funded by the World Bank. Projects like the Vijayapura Sub-Regional Science Centre and Mini Planetarium (Rs 128.8 million), upgrading Banavara Gram Panchayat to a Town Panchayat, and modernising water supply from Clive Lines Reservoir for Rs 1.99 billion were also approved.

A committee led by DCM DK Shivakumar will review the Guruprasad Committee’s recommendations on revising civil works and submit its findings at the next cabinet meeting.

(newindianexpress)