HUBBALLI: Though Chief Minister Siddaramaiah has found a correlation between industrial growth and the prevailing unemployment problem, proposals in the Budget don’t reflect this. The Budget neither has any incentives nor has it given any broader policy framework to attract investments to ensure industrial growth. Moreover, trade and industry bodies here say the Budget has failed to enthuse industry.
To address unemployment, Siddaramaiah says more employment opportunities should be created by ensuring rapid growth of industries on one hand, and increasing employability of youth on the other. “In this direction, our government is ready to take all necessary measures to promote growth of the industrial sector,” he adds.
However, his remarks appear vague in view of the budget proposals. Setting up a technology innovation park in Bengaluru, a mega industrial township on the Chennai-Bengaluru Industrial Corridor, a manufacturing cluster in Vijayapura and an export cluster in Dakshina Kannada are long-term plans, and would bring no respite to the current problems, experts said.
The budget has once again spoken about the ‘single-window system’, to submit all applications to establish new enterprises. All permits will be issued on the same portal, in a time-bound manner, and will certainly attract industries and investments. The intention is good but how it works on the ground, only time will tell.
A proposal that gained attention was exemption of land use conversion of up to two acres of farmland for industrial purpose, and there is a proposal to bring suitable amendments to the Karnataka Land Revenue Act. It could give a big boost to the agro-processing industry, which could be established near farms. Karnataka Chamber of Commerce and Industry president Vinay Javali said there is no word on what the government would do to develop Dharwad and Tumakuru as Special Investment Regions.