13 companies seek additional incentives from Karnataka govt for investments in State

Bengaluru: A Cabinet sub-committee, headed by Chief Minister Siddaramaiah, discussed additional incentives for 13 companies that are planning major investments in Karnataka.

This Cabinet sub-committee deals with providing incentives to companies based on their requests.

According to sources, the sub-committee asked officials to negotiate with each company to ensure a "win-win" situation in which the government does not taken on a big burden.

"Some companies have sought additional incentives of up to 40 per cent. Officials have been asked to see if this can be brought down to 35 per cent or 20-25 per cent in some cases. However, none of these projects were rejected keeping in mind the benefits the investments will bring to the state," a person with knowledge of the matter said.

It is also said that Siddaramaiah and his Deputy D K Shivakumar stressed on the need to ensure that these companies prioritise jobs for Kannadigas.