<p>Bengaluru: Karnataka’s Minister for Large and Medium Industries M B Patil cautioned on Monday, “Recently, certain investors have been asking for incentives amounting to over 100% of their investment. State government can not and should not provide incentives more than the planned investment. These practices raise concerns on fundamental viability of such projects."</p>.<p>This comes after Lenskart signed a Memorandum of Understanding (MoU) with the Telangana Government on Sunday to set up an eyewear manufacturing facility with an investment of around Rs 1,500 crore.</p>.<p>The facility is expected to create 2,100 jobs in Hyderabad’s Fab City.</p>.'Talking so crudely about...': Tejasvi Surya, M B Patil battle it out on social media over KWIN City.<p>Patil continued, “As custodians of taxpayers’ resources, we are committed to making prudent decisions that maximise long-term benefits for both the state and its people. Incentives by a state government are provided only to reduce the burden on investors and increase financial viability of the project.”</p>.<p>He declared that the Karnataka government’s resolve remains to create a fair, transparent, and thriving environment for enterprises.</p>.<p>“The Government of Karnataka, under my leadership as the Industries Minister, has always prioritised fostering a business-friendly environment balanced with responsible fiscal management,” he stated.</p>
<p>Bengaluru: Karnataka’s Minister for Large and Medium Industries M B Patil cautioned on Monday, “Recently, certain investors have been asking for incentives amounting to over 100% of their investment. State government can not and should not provide incentives more than the planned investment. These practices raise concerns on fundamental viability of such projects."</p>.<p>This comes after Lenskart signed a Memorandum of Understanding (MoU) with the Telangana Government on Sunday to set up an eyewear manufacturing facility with an investment of around Rs 1,500 crore.</p>.<p>The facility is expected to create 2,100 jobs in Hyderabad’s Fab City.</p>.'Talking so crudely about...': Tejasvi Surya, M B Patil battle it out on social media over KWIN City.<p>Patil continued, “As custodians of taxpayers’ resources, we are committed to making prudent decisions that maximise long-term benefits for both the state and its people. Incentives by a state government are provided only to reduce the burden on investors and increase financial viability of the project.”</p>.<p>He declared that the Karnataka government’s resolve remains to create a fair, transparent, and thriving environment for enterprises.</p>.<p>“The Government of Karnataka, under my leadership as the Industries Minister, has always prioritised fostering a business-friendly environment balanced with responsible fiscal management,” he stated.</p>
