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H D Kumaraswamy
The government is preparing fiscal incentives to encourage domestic production of rare earth magnets in the face of recent disruptions caused in their supply, currently dominated by China, Union Minister H D Kumaraswamy said on Friday. The minister for Heavy Industries and Steel also said a scheme is in the works to provide "targeted support" to the industry for its capital as well as operational expenditure, which would help bridge cost gaps, offer relief from high tariffs on key equipment and ensure continuity of supply in the face of rising global restrictions. "The ministry is actively addressing vulnerabilities in critical raw materials. Recognising that rare earth magnets are central to EV motors and currently dominated by Chinese supply, we are preparing fiscal incentives to encourage domestic production. "We are working on a scheme aimed at powering India's participation in global value chains through targeted support for both capital expenditure and operational expenditure
Adopting low-carbon emitting technologies to produce green steel is no longer a choice but a necessity, Union Minister H D Kumaraswamy said as he emphasized on the urgency for taking steps towards decarbonisation. The Minister for Steel made the remarks addressing 'BigMint Future Steel Conclave' organised with a focus on innovation and usage of emerging technologies in the steel sector. The green steel taxonomy is shaping up well to provide clear guidance and incentives. Green steel and clean technologies are no longer a choice but a necessity, the minister said in a virtual address on Wednesday. "Under the visionary leadership of Prime Minister Narendra Modi our steel industry is on a fast track with the bold target of reaching 300 million tonnes capacity by 2030. Our commitment is not only expansion but also sustainability in line with our net zero by 2070 pledge," Kumaraswamy said. In December 2024, the government came out with the definition of Green Steel and urged the industr
The state Revenue Department on Tuesday initiated measures to clear the encroachment of 14 acres of land in Ramanagara district in Karnataka, allegedly by the family of Union Minister H D Kumaraswamy, official sources said. Following the High Court's direction to reclaim government land from encroachment, the Revenue Department, in coordination with district authorities and the police department, deployed earthmovers. In January this year, the state government constituted a Special Investigation Team (SIT) to probe the encroachment of government land in Kethaganahalli village, Bidadi, in Ramanagara district. The SIT found that 14.04 acres of land in survey numbers 7, 8, 9, 10, 16, 17, and 79 had been encroached upon, based on a joint survey conducted by the Revenue Department and the Survey Settlement Department, sources said. The case of encroachment is currently pending before the High Court. During a hearing on Monday, the court took a strong view of the failure to implement it
The Supreme Court on Monday said it would hear on February 25, the plea of former Karnataka chief minister H D Kumaraswamy seeking quashing of the proceedings in a corruption case. A bench of Justices Dipankar Datta and Manohan said it would decide the limited question of law over cognisance on which it issued notice in January, 2021. On January 18, 2021, the top court issued notice to the complainant one M S Mahadeva Swamy and the Karnataka government. Since then the matter was listed several times and no substantial hearing took place on Kumaraswamy's plea against the October 9, 2020 high court order refusing to quash the proceedings against him. The case relates to a private complaint filed by Swamy before the special judge under the Prevention of Corruption Act, in Bengaluru seeking prosecution of Kumaraswamy and others. The complaint alleged that de-notification of two plots of land in Halagevaderahalli Village, Uttarahalli Hobii, Begaluru South Taluk, during his tenure as ch
Union Minister H D Kumaraswamy on Monday unveiled a Rs 20,000-crore expansion plan for domestic steel giant SAIL's Bokaro Steel Plant (BSL), which will augment its capacity to 7.55 million tonnes per annum (MTPA). The Bokaro Steel Plant, established in 1965, with the first blast furnace operation in 1972, initially had a capacity of 1.7 MTPA. "Union Minister of Steel and Heavy Industries H D Kumaraswamy visited Bokaro Steel Plant where he unveiled an ambitious expansion plan to increase production capacity. With an investment of Rs 20,000 crore, the brownfield expansion aims to increase hot metal production from the current 5.25 MTPA to 7.55 MTPA, thereby strengthening India's momentum towards Aatmanirbhar Bharat in the steel sector," SAIL said in a statement. Apart from increasing production , the expansion plan will create 2,500 permanent jobs and 10,000 indirect jobs, it said. "The plant is now set for a massive overhaul with a new 4,500 cubic metre blast furnace, a thin slab ..
Electric vehicle sales in India crossed 14.08 lakh units in 2024, achieving a market penetration rate of 5.59 per cent, up from 4.44 per cent in the previous year, Union Minister H D Kumaraswamy said on Saturday. The minister asserted that the upward trend in EV adoption underscores the growing public trust in electric vehicles, as well as the positive impact of government incentives and industry innovation. "Total EV sales in calendar year 2024 reached 14,08,245 - a penetration of 5.59 per cent, up from 10,22,994 in calendar year 2023, which stood at 4.44 per cent," the minister for Heavy Industries and Steel said at a Federation of Automobile Dealers Association (FADA) event here. He observed that despite global uncertainties, the country's automotive sector has continued on a growth trajectory. "In the calendar year 2024, the industry collectively retailed 26.1 million vehicles, marking a robust 9 per cent year-on-year increase," Kumaraswamy said. Talking about the Production
Electric vehicle sales in India crossed 14.08 lakh units in 2024, achieving a market penetration rate of 5.59 per cent, up from 4.44 per cent in the previous year, Union Minister H D Kumaraswamy said on Saturday. The minister asserted that the upward trend in EV adoption underscores the growing public trust in electric vehicles, as well as the positive impact of government incentives and industry innovation. "Total EV sales in calendar year 2024 reached 14,08,245 - a penetration of 5.59 per cent, up from 10,22,994 in calendar year 2023, which stood at 4.44 per cent," the minister for Heavy Industries and Steel said at a Federation of Automobile Dealers Association (FADA) event here. He observed that despite global uncertainties, the country's automotive sector has continued on a growth trajectory. "In the calendar year 2024, the industry collectively retailed 26.1 million vehicles, marking a robust 9 per cent year-on-year increase," Kumaraswamy said. Talking about the Production
Union Minister H D Kumaraswamy on Sunday accused the Congress government in Karnataka of finding ways to discontinue its flagship guarantee schemes, while "burdening" the common people with increased costs such as the recent 15 per cent hike in public transport bus fares. Speaking to reporters, Kumaraswamy said, "The Chief Minister (Siddaramaiah) is someone who has presented the most number of budgets in the state, as he has also held a finance portfolio, with his consent the five guarantee schemes were implemented and they (Congress) claim that they have walked the talk, but to walk the talk they are playing with the lives of the common man." Expressing concern over the fare hike, he said it impacted farmers, labourers, and the working class. By increasing bus fares by 15 per cent, what has this government achieved? These hikes affect the lives of the common people, not the wealthy or ministers' families, he said, adding that the hike reflects the government's insensitivity towards
Union Minister H D Kumaraswamy on Sunday accused the Congress government in Karnataka of finding ways to discontinue its flagship guarantee schemes, while "burdening" the common people with increased costs such as the recent 15 per cent hike in public transport bus fares. Speaking to reporters, Kumaraswamy said, "The Chief Minister (Siddaramaiah) is someone who has presented the most number of budgets in the state, as he has also held a finance portfolio, with his consent the five guarantee schemes were implemented and they (Congress) claim that they have walked the talk, but to walk the talk they are playing with the lives of the common man." Expressing concern over the fare hike, he said it impacted farmers, labourers, and the working class. By increasing bus fares by 15 per cent, what has this government achieved? These hikes affect the lives of the common people, not the wealthy or ministers' families, he said, adding that the hike reflects the government's insensitivity towards
Union Steel Minister H D Kumaraswamy has said that steelmakers need to collaborate with leading institutions like Indian Institute of Science (IISc) and IITs for research to create a globally-competitive and technologically-advanced steel industry. He said India's steel sector stands as the backbone of its industrial strength and a cornerstone of nation-building. "From skyscrapers to highways, railways to defence, steel powers our progress and fuels our ambitions." Speaking on the occasion of the National Metallurgists Awards ceremony here on Wednesday, he said: "To create a globally-competitive and technologically-advanced steel industry, our steelmakers need to collaborate with leading institutions like IISc and IITs (Indian Institutes of Technology) for research." Specialty steel, Kumaraswamy said, is also a crucial sector where research and innovation is the need of the hour. The Minister said that under the leadership Prime Minister Narendra Modi, the country is on a path t
Union Steel Minister H D Kumaraswamy has said that steelmakers need to collaborate with leading institutions like Indian Institute of Science (IISc) and IITs for research to create a globally-competitive and technologically-advanced steel industry. He said India's steel sector stands as the backbone of its industrial strength and a cornerstone of nation-building. "From skyscrapers to highways, railways to defence, steel powers our progress and fuels our ambitions." Speaking on the occasion of the National Metallurgists Awards ceremony here on Wednesday, he said: "To create a globally-competitive and technologically-advanced steel industry, our steelmakers need to collaborate with leading institutions like IISc and IITs (Indian Institutes of Technology) for research." Specialty steel, Kumaraswamy said, is also a crucial sector where research and innovation is the need of the hour. The Minister said that under the leadership Prime Minister Narendra Modi, the country is on a path t