State will lose investments if violence continues: Nirmala

Union Minister State for Commerce and Industry Nirmala Sitharaman on Thursday expressed fear that Karnataka would suffer industrial losses if violence continues. She was referring to the ongoing communal unrest in Dakshina Kannada district.

Karnataka may lose investment from outside the state if the violence continues.  “Karnataka, particularly Bengaluru, has international recognition. But, due to the law and order lapses, the investors may not come forward to invest here,” she said at a press conference.

“The state government has failed to take action against the culprits, who have murdered RSS workers. If the state government fails to curb criminal activities, the state may miss investments,” she said.

Asked about Foreign Direct Investment (FDI), the Nirmala said that compared to 2015-16, FDI has increased in 2016-17 financial year.

“Demonetisation of Rs 500 and Rs 1,000 notes has not affected the FDI. “The ban of high denomination notes was to promote digital currency and reduce circulation of currency notes,” she said.

The minister said that GST is being implemented after consulting all the stakeholders from each state.

“All state finance ministers attended meetings. People may be facing difficulties, but they can find solutions round the clock, online,” she said.

Mysuru-Kodagu MP Pratap Simha and MLA S Suresh Kumar were present.