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Peenya industries seek Rs 500-cr package for infrastructure

The problems can be solved if the government cuts the input tax, the association said
Last Updated : 02 March 2022, 21:00 IST
Last Updated : 02 March 2022, 21:00 IST

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The Peenya Industries’ Association has sought Rs 500 crore in the state budget for medium and small enterprises (MSME) and the development of infrastructure in the Peenya Industrial Area.

In a letter to Chief Minister Basavaraj Bommai, the association noted that 10 lakh people from rural Karnataka, including 4.5 lakh women, work in the industries in Peenya.

Despite the industries contributing Rs 2,600 crore per annum in tax revenue to centre and state governments, infrastructure in Peenya has been ignored, it added.

Further, a steep hike in the prices of raw materials, especially steel, plastic and chemicals, has hit the MSME sector hard.

The problems can be solved if the government cuts the input tax, the association said.

The association also sought relaxation in non-performing asset norms in the banking sector, metro train connectivity, better roads and drainage, reservation for MSMEs in industrial lands and a reduction in property tax.

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Published 02 March 2022, 20:03 IST

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