Mysuru, Mar 16 (KNN) Hailing the State Budget presented by Karnataka Chief Minister S Siddaramaiah, Mysuru Industries Association (MIA) in particular has welcomed the announcements of upto Rs 2 crore loan at 4% rate of interest to women entrepreneurs and allocation of Rs.2250 crores, Rs 436 crores excess in comparison to last budget, to Industries Department.

MIA President cum MLA Sri Vasu and MIA Secretary Suresh Kumar Jain said it is an industry friendly budget.

Women entrepreneurs’ loan has been increased from Rs 50 lakhs to Rs 2 crores at 4% rate of interest. This was represented in pre-budget proposal submitted by the Mysore Industries Association.

The Government has reduced the lease period from 99 years to 10 years for upto 2 acres of land allotted by KSSIDC and KIADB to small scale industries.

“This is a collective demand of all small scale industries associations of Karnataka. This will help MSMEs to avail loan from financial institutions,” MIA said.

Government’ announcement for release of Rs 3,766 crores due to Escom’s by the Government was also one of the demands made by MIA in order to cut down the power cost in general.

Formation of exclusive Directorate for Small Scale Industries was also a long pending demand of Industries Associations from last 30 years which has been fulfilled.

“This will boost the MSMEs for speedy development of Industries, said MIA.

Further, formation of vision group for promotion of Medical equipments and Pharma Sector industry; Award to outstanding industrialist which was stopped since 1996-97; Organising National Trade and industry invention will also boos industry, said MIA.

Government’s announcements for SC/ ST entrepreneurs like -to provide Collateral free loans to SC/ST entrepreneurs along with a corpus fund of Rs 100 crores, reimbursing ESI paid by private industries who provide employment to SC/ST employees, waver of outstanding seed money loan from SC/ST entrepreneurs upto 31.03.2017 to the tune of Rs 46 crores, reimbursement / exemption of loan processing fees and legal fees to SC ST entrepreneurs for their industrial loans and 2 rupee per unit power subsidy upto 5 years for first generation Micro and Small Scale Industries owned by/SC ST entrepreneurs have been appreciated by MIA.

There is also a Special Package announced for the OBC entrepreneurs under which 25% subsidy on industrial land and sheds allotted by KIADB, KSSIDC will be given for the entrepreneurs belonging to OBC Category A, 2A & 2B.

The announcements for Mysore in particular like establishment of Film City at Himmavu in Mysore District, Aerosports Hub and water sports at Varuna Tank in Mysore to encourage tourism, and sports activities, Setting up of Mega Silk Cluster at Mysore as announced in the Central Budget with the effective  involvement  and support of  State Government, Development of 22 kms of road at a cost of Rs 117 crores to ease travelling and transportation, Super speciality High tech hospital and Urology Hospital at Mysore have been welcomed by the industry.

Meanwhile, MIA expressed disappointment over non-inclusion of KSFC, KSSIDC & KIADB services in Sakala, Rebuilding of Devaraja Market and Landsdown Buildings on the lines of Palika Bazar in Delhi accommodating shelter to market small scale industrial products. (KNN Bureau)