Bangalore, Apr 27 (KNN) The election manifesto released by the All India Congress Committee for election bound Karnataka promises adequate financing to meet both capital investment and working capital needs for industrial development in the state along with several other sops like appropriate “insurance product” for MSMEs, 'start up subsidy" of upto approximately Rs. 1 crore and 1 crore jobs in next five years.

All India Congress Committee President Rahul Gandhi released the manifesto of the party for the 2018 Karnataka Assembly elections, in the coastal city of Mangaluru, on Friday, 27 April.

The manifesto highlights that the Karnataka State Industrial Policy for2014-19 sets aside a minimum of20–30% of allocable land for industrial development to SMEs. 

The key sector initiatives that the party manifesto promises includes Single Window Clearance for projects under Karnataka Facilitation Act, 2002, through online portal (www.ebizkarnataka.gov.in), including registrations and approvals of 15 line departments.

In the key focus areas that the Siddaramaiah led party promises is to provide adequate financing to meet both capital investment and working capital needs.

On Insurance, the party manifesto states that “MSMEs mostly rely on a single person. When there is an accident or health issues with that key person, the business and revenues suffer. We will mitigate this through appropriate insurance products.”

It said, “We will aim to promote global OEMs into a cluster for focused development of tier-1 and tier-2 ancillaries.”

Branding of products, training of workers to refine skills, changing products based on market demand etc will be facilitated through MSME centres, it promises.

The manifesto also promises to take forward the 2014-2019 Karnataka Industries Policy.

The party manifesto claims that the initiatives and projects launched by the Siddaramaiah Government, from 2014–17,resulted in 1.89 lakh employment in large industry sector and 12.30 lakh employment in the MSME sector i.e. 14.19 lakh of total employment.

The manifesto points that during 2014–17, 1,823 projects have been approved by the State Level Single Window Clearance Committee / State High Level Clearance Committee, with an investment of Rs. 3.34 lakh crore, generating employment for 8.98 lakh people.

The party has promised to encourage low cost manufacturing and employment generation and the employment generating industries will be incentivized and awarded also.

High Skilled Training Centres will be created in all Divisions – to train students in Artificial Intelligence, Robotics, Data Analytics and latest skills required for industries etc.

Policy will be evolved to tap local industries for their skill and employment requirements and train people in specific skill to cater to the local industry requirements, the party manifesto promises.

It also envisaged that ITIs will be upgraded in and up-scaled to the requirements of industries and ITIs will tie up with industries and have sector-wise skill training.

Every district will have a skill centre and have tie-ups with local industries – to train students for skills required by the local industries and local demand. The party in its manifesto also promises a Central Institute of Plastic Technology.

The manifesto noted that Bengaluru has been named among the top 10 global innovation hubs in the world and is considered a city of Global R&D centres.

Claiming that INC Government was the first to launch the Start-up and Innovation policy of Karnataka, once again making Karnataka the State of Many Firsts, the manifesto promises to expand the IT sector to contribute to more than 25% of state GSDP and 33% of the total technology-related business of India.

It promises to evolve the start-up entrepreneurial eco-system in the State to be the best in the country and make the State a leading destination globally for start-ups by increasing the number of start-ups to 20,000 with about 5,000 of them assisted by Venture Capital (VC).

The manifesto stresses on establishing a patent office in Bangalore to incentivise companies with International patents to set up shop.

“There will be a 'start up subsidy" of upto approximately Rs. 1 crore, so that the company can kick start production. The subsidy would have a grant component of upto Rs. 25 lakhs and soft loan of about Rs. 75lakhs @ 6% interest.”

“We will create ESDM Park. A manufacturing hub be created for ESDM companies and land will be made available at reasonable rates…We will create a Hardware Park…We will create a IT Park at Devanhanalli,” the manifesto promises.

The Congress president claimed the the  Siddaramaiah government had fulfilled 95% of the promises made in the manifesto released ahead of the 2013 polls after coming to power.

Launching the manifesto, Gandhi said that it wasn’t written by a few people in a room, but was devised after going to every district, block, community and region of the state.

“This is the philosophical difference. The prime minister wants to tell the people of the country his ‘Mann ki Baat’, but this manifesto is the mann ki baat of the people of Karnataka”, he said.