Karnataka MSMEs happy with budget but disappointed over land allotment issue

Bengaluru, Mar 19 (KNN) The Karnataka Government has presented its budget for the year Year 2016-17 in which it plans to spend over 1.6 lakh crore rupees in the coming year. The state industries looked quite satistfied with the budget presented by State Chief Minister Siddaramaiah.

Talking to KNN, the Vice President of Federation Of Karnataka Chambers Of Commerce & Industry (FKCCI) K. Ravi said that budget is pretty good and Government has considered most of their demands.

However, he said that Government ignored the power sector.

Fresh taxes has been levied by the Government, he added.

We had demanded that the lands should come under lease cum sale for the Micro, Small and Medium Enterprises (MSMEs) because the allotment rates are very high like selling rate, he said.

As far as trade and industry are concerned, he has paid heed to the pre-Budget petitions of the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) and other trade bodies, and reduced VAT on many items, besides encouraging the basic living standards in both North and South Karnataka.

Happily, the trade license for industry has been abolished not only within corporation and municipality limits but throughout the state. To put it simply, Siddaramaiah has made every effort to balance the Budget and cater to various sections of society.  (KNN Bureau)