Karnataka is investment friendly, says BCIC study


According to the findings, 74 per cent of the respondents believe that Karnataka is an investment friendly State, and 63 per cent of them say that it was relatively easy to find the required resources here.

While, quality of infrastructure was also hailed about 50 per cent of the respondents, only 37 per cent of them were happy with the fiscal measures. And the study calls for the extension of the same to sectors beyond IT & BT. Further, while pointing out the industry’s viewpoints to enhance the State’s image, the study urges the State to create more power, have a clear policy on infrastructure investments, develop Tier I & Tier II cities, et al. Briefing reporter Commerce & Industry Department Principal Secretary V P Baligar, said that the government will vet the report as it is a representation from the industry and work towards reducing the problems they face. Speaking on the sidelines, he said that in a recent meeting held to discuss issues pertaining agro-based industry,  Chief Minister B S Yeddyurappa has decided to relax provide Rs 30 lakh or 25 per cent in subsidy, as also relax  Section 79 (A) and 79 (B) to enable easy acquisition of land, besides barring the need to convert agricultural land.Further, besides the subsidy, the government will also provide a concession of Rs 1 per unit of power consumed to all coldstorages in the State. However, the same has to be approved by the Cabinet, he added.

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