Mysuru, Mar 24 (KNN) The Karnataka Government, in its state budget for the year 2016-17, has announced to allot land and sheds to SC/ST entrepreneurs by KIADB/KSSIDC at 50% of the rate.

Welcoming the announcement, Mysore Industries Association (MIA) and MSME Council have said, “Land and sheds will be allotted to SC/ST entrepreneurs by KIADB/KSSIDC at 50% of the rate. The payment of cost of land and shed will be realised in instalments. Out of this, 50% will have to be paid as down payment and remaining 50% will be in 8 equal quarterly instalments.”

Further, the MSME bodies said that the state budget is aimed at collecting taxes on the merits of payable capacity and providing Tax concession and exemption for the deserved commodities.

Allocation of Rs.1814 Crores to industries department has happened for the first time to give a boom to overall industrial development of the state, P. Vishwanath, President and Suresh Kumar Jain, General Secretary Mysore Industries Association and TD Jayachandra Urs President MSME Council said.

The associations pointed that in the budget it has been proposed to declare industrial areas and estates in Peenya and Bommasandra of Bengaluru, Mysuru, Belagavi and Hubballi as Industrial Township Authority.

Mysore Industries Association represented this issue from last 6 years, it said.

To promote industries in Karnataka, ‘Invest Karnataka’ Company will be formed for speedy implementation of project proposals and development of market intelligence. Industrialists and officers of the Government will be on the board of the company and it will be managed by professionals.

The industrialists have welcomed the proposal for establishment of Women Parks in Ballary, Dharwad and Mysuru to encourage women entrepreneurs with the Ministry of MSME’s-CDP Financial Assistance.

30 existing and new industrial estates will be upgraded through cluster approach under the Government of India MSME – CDP Scheme.

It is proposed to provide Rs.175 crore to upgrade infrastructure facilities in 30 industrial areas developed by KIADB to mark the Golden Jublee Celebration of KIADB. Rs.5 Crores has been allocated in the state budget to establish Devaraj Urs Skill Development Centre.

Entrepreneurship Development Programme for 30,000 Startups under self Employement Scheme has been proposed.

The state government also announced transfer of 11994 acres of Government land to KIADB for industrial development.

The associations have hailed the proposal to waive off loan and interest of Rs.17 crore given to weavers for construction of living cum work sheds under various schemes.

The MSMEs have welcomed the reduction of VAT on certain items and also reduction in interest for loan to handloom and powerloom weavers.

Meanwhile, the associations were disappointed over non-announcement of Government Engineering College to Mysore and no reduction and Exemption of VAT on Packaged Drinking water. (KNN Bureau)