CM holds pre-budget meeting with industry bodies

Chief Minister Siddaramaiah on Friday held discussions with industry bodies as part of the pre-budget meetings being held in Bengaluru for the past few days.

Karnataka Small Scale Industries Association, in its memorandum to Siddaramaiah who also holds the finance portfolio, urged him that 25 per cent land in all industrial estates be reserved for Micro, Small and Medium Scale Enterprises. It has also wanted the government to drop its tender terms like prescription of a minimum turnover of Rs five crore to allow participation of small scale industries in bidding processes.

The Federation of Karnataka Chamber of Commerce and Industry suggested that the government take steps to abolish trade licence for all those registered under the Karnataka Shops and Establishments Act. It has sought that the government reduce Value Added Tax (VAT) from 15.5 per cent to 14.5 per cent and 5.5 per cent to 4.5 per cent.

The Associated Chambers of Commerce and Industry of India has urged the government to provide support to mineral-based industries located in Karnataka. It has called for reserving at least a certain portion of iron ore mined in the State for consumption by steel plants located within Karnataka. Siddaramaiah is scheduled to present the State Budget on March 13.