BSY draws roadmap for State's industrial growth

Government to acquire at least 50,000 acres of land across the State

On Saturday, Chief Minister B S Yeddyurappa said the Government had begun creating land banks in each district and had initiated the process to acquire 8,000 acres in different districts. “Land would be kept ready for investors who would be participating in the meet,” he announced, while addressing industrialists at the first state-level conference of district chambers of commerce and other associations organised by Federation of Karnataka Chambers of Commerce and Industries.

After listening to the demands made by industrialists, the CM said that his government was committed to take all necessary measures to encourage industrial development in the State. The State had outlined seven objectives and his administration would give utmost attention to its implementation in the coming days, he said.

Objectives

The objectives are: increasing income from agriculture and allied activities; reforming education system with focus on skill development; providing health insurance to all; giving attention to sustainable urbanisation and industrialisation; empowering women; empowering weaker sections; and bridging the digital divide. Progress in these areas is expected to help the State achieve higher economic growth.

Smaller cities

Yeddyurappa said that his government would develop infrastructure facilities in smaller cities to attract investments. Road network would be strengthened. The Government had taken up development of 66,000 kms of road.

On the tax front, he said Value Added Tax (VAT) collected by the State government was on a par with the recommendations of the Centre’s Empowered Committee.

Interestingly, Gujarat, which stands first in luring investors, has higher VAT rates when compared to the Empowered Committee’s recommendations. In addition, the RBI package for recession has helped in restructuring loans of 41,000 small and medium enterprises, which were hit by the global economic slowdown.

BBMP roads

Yeddyurappa said that the Government was keen on developing infrastructure in BBMP areas as well.

The government was contemplating a special programme to upgrade roads in BBMP area at a cost of Rs 2,000 crore and maintain the roads with private partnership.

‘Stop exporting iron ore’

Vice Chairman and MD of JSW Steel Ltd, Sajjan Jindal had a suggestion for Karnataka.
Jindal, who also heads the Associated Chambers of Commerce and Industry of India, said: “Karnataka is rich in natural resources and the Government should make better use of it to improve its economic position. The State should restrict the export of iron ore and give thrust for value addition of the mineral, which would create huge employment and add to the State’s GDP. In a few years, Bellary would become a hub of steel plants.”