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Karnataka received just 11% of Rs 4.29 lakh crore investments approved since 2018: Report

Between 2018-19 and 2023-24, Karnataka approved 122 investment plans worth Rs 4.29 lakh crore, which promised 3.52 lakh jobs.
Last Updated : 08 July 2024, 23:05 IST

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Bengaluru: Karnataka, which is wooing businesses with a red carpet, saw only 11 per cent of the investments approved since 2018-19, according to data presented at a review meeting chaired by Chief Minister Siddaramaiah on Monday. 

Between 2018-19 and 2023-24, Karnataka approved 122 investment plans worth Rs 4.29 lakh crore, which promised 3.52 lakh jobs. 

Of these, 38 projects worth Rs 51,229.15 crore have been implemented, generating 34,509 jobs. There are 68 projects worth Rs 2.29 lakh crore that are still ‘under implementation’ while 11 proposals valued at Rs 1.39 lakh crore are in the ‘initial stage’, according to the department of commerce and industries. 

The 38 projects that have been grounded are in Bengaluru Rural, Bengaluru Urban, Bagalkot, Ballari, Belagavi, Dharwad, Gadag, Haveri, Kalaburagi, Tumakuru and Mysuru districts.

In nine districts — Chamarajanagar, Chikkaballapur, Chitradurga, Dakshina Kannada, Davangere, Kolar, Koppal, Vijayapura and Ramanagara — not a single project has seen implementation.

Karnataka has recently announced that the flagship Invest Karnataka summit will be held in February 2025. 

During his review meeting with deputy commissioners and zilla panchayat CEOs, Siddaramaiah pulled up officials over complaints about the government losing out on royalty from quarries.  Labour Minister Santosh Lad, Forest Minister Eshwar Khandre and Medical Education Minister Dr Sharan Prakash Patil raised the issue during the meeting. 

Lad specifically pointed out that quarries obtained environmental clearance for 50 lakh tonnes, but actual permit was for 20 lakh tonnes. “Why then obtain environmental clearance for a higher quantity?” Lad said, before he was joined by other ministers. 

Siddaramaiah ordered officials to review this immediately and take corrective steps. “If needed, we will bring out a new policy,” he said. 

Siddaramaiah also said that the government is receiving complaints about illegal mining and asked DCs to step up action. “Contractors who are doing illegal sand mining must be blacklisted. Sand requirement must be met through gram panchayats with sand blocks that have been identified. There are 373 sand blocks of which 102 are functional. The remaining should be started,” the CM said.

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Published 08 July 2024, 23:05 IST

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