BENGALURU: In an effort to create more employment opportunities, the Karnataka government proposes to decriminalise employers’ compliance and bring in a policy for Micro, Small and Medium Enterprises (MSMEs). CM Siddaramaiah also announced formulation of the Textile Policy 2025-30, aiming to generate 2 lakh jobs.
“To simplify rules and conditions of industrialists’ compliance, our government will place the Karnataka Employers’ Compliance Decriminalisation Bill and Karnataka Employers’ Compliance Digitisation Bill. Violation of conditions by employers will be decriminalised. Compliance of employment conditions will be digitised, and this will be the first time in the country,’’ the CM stated.
A separate MSME policy will be formulated with the objective of achieving Karnataka’s Sustainable Development Goals, accelerate the economy and mitigate regional imbalances.
“To encourage the MSME sector, common facility centres will be established under the MSME cluster development scheme,’’ the CM added.
To encourage electric vehicle manufacturing and usage, a testing track of international standards and state-of-the-art EV cluster with common infrastructure will be established in Bengaluru at a cost of Rs 25 crore. To encourage industrialisation in North Karnataka region, flatted factories with plug-and-play facility will be established in Thidagundi, Vijayapura district.
The CM also announced a Japanese Industrial Park in Tumakuru industrial node under the Chennai-Bengaluru industrial corridor project.
FKCCI Chairman MG Balakrishna said the budget announcements are good. “The challenge before the government is to implement them. The budget stresses on welfare of both employees and employers with good infrastructure boost. We need to watch how they execute it,’’ he added.
LEAP into innovation, entrepreneurship
The Local Economy Accelerator Programme (LEAP) to be launched to stimulate innovation and entrepreneurship in cities other than Bengaluru, with a grant of Rs 1000 crore. A sum of Rs 200 crore has been announced for this year to create 5 lakh jobs.
Startup ecosystem to be developed in Mysuru, Mangaluru, Hubballi-Dharwad, Kalaburagi
Rs 300 crore fund, Rs 100 crore corpus fund for deep tech development
New IT policy emphasises cloud computing, development of emerging technologies, expansion to Tier-2 and Tier-3 cities
Centre for Applied Artificial Intelligence for Tech Solutions to be established at Rs 50 crore over next five years
Quantum Research Park Phase-2 to be set up with grant of Rs 48 crore in collaboration with IISc
Rs 57 crore for reconstruction of damaged Bengaluru Bio Innovation Centre