BENGALURU: Trade bodies have termed the state budget as balanced. Perikal M Sundar, president, Federation of Karnataka Chambers of Commerce and Industry (FKCCI), said they are happy that the long-pending demand for the introduction of Karasamadhana Scheme is granted, which will bring an end to pre-GST tax disputes and also generate revenue to the government.
The government has encouraged industries by providing support for the establishment of a Textile Park, Plastic Park, Bulk Drug Park and Food Park. Budgetary provision is also made for two mega industrial townships and the Peenya Industrial Township.
“A separate tax slab for industrial properties, loans to women entrepreneurs at 4% discounted interest rates and investment subsidy in ESDM are the steps towards making Karnataka the most favoured destination for industrial investment, “ he said.
K B Arasappa, president, Karnataka Small Scale Industries Association (KASSIA), said purchase of land directly by industries from farmers will help in the all-round development of industries in rural areas. T R Parasuraman, president, Bangalore Chamber of Industry and Commerce, said, “No increase in tax on fuel price despite heavy pressure, will have positive bearing on arresting prices.”