Karnataka MSMEs to experience growth from incentives in New Industrial Policy 2014-19: KASSIA
Updated: Oct 18, 2014 04:55:24pm
Bangalore, Oct 18 (KNN) The state’s micro, small and medium scale enterprises (MSME) will experience a spurt in their growth from the slew of incentives and concessions contained in the New Industrial Policy 2014-19, said Karnataka industry body.
Complimenting Chief Minister Siddaramaiah on a growth-oriented budget, Karnataka Small Scale Industries Association (KASSIA) President Chidananda M Rajamane said the doubling of fiscal incentives from the previous policy, net VAT and CST based interest free loans for longer duration, was a Deepawali gift to MSME entrepreneurs, KASSIA said in a press release today.
The proposal to form five industrial areas every year over an area of 5000-8000 acres of land is an adequate response to meeting the concerns of scarcity of industrial land, he noted, while welcoming the decision to develop two exclusive industrial estates for women entrepreneurs in Hubli/Dharwad and Harohalli, in addition to 5 per cent reservation for women entrepreneurs in all industrial areas.
KASSIA further hailed the decision of the reservation for SC/ST/Minorities in the Industrial Estates.
General Secretary, KASSIA, N C Gopinathan said there will be a visible markup in industrial growth beyond Bangalore once the proposed four state industrial corridors in Dharwad-Koppal-Raichur, Chitradurga-Haveri-Karwar, Raichur-Bagalkot-Belgaum and Tumkur-Shimoga-Hassan sectors are commissioned.
The only discordant note in the new policy was the proposal to allot KSSIDC/KIADB land on 99-year-lease.
KASSIA said, “Ignoring its suggestion to allot land on 10-year-lease cum sale or alternatively exempt the applicability of 99-year-lease to the MSME sector, on the grounds that land was the only asset that remained with the small entrepreneur and the only insurance against any adverse eventuality.”
The KASSIA is pinning on the hope of assurance given by the Chief Minister when the delegates met him during last week of August. He had then promised that exemption of 99 years lease to MSMEs would be sympathetically considered. (KNN Bureau)
Complimenting Chief Minister Siddaramaiah on a growth-oriented budget, Karnataka Small Scale Industries Association (KASSIA) President Chidananda M Rajamane said the doubling of fiscal incentives from the previous policy, net VAT and CST based interest free loans for longer duration, was a Deepawali gift to MSME entrepreneurs, KASSIA said in a press release today.
The proposal to form five industrial areas every year over an area of 5000-8000 acres of land is an adequate response to meeting the concerns of scarcity of industrial land, he noted, while welcoming the decision to develop two exclusive industrial estates for women entrepreneurs in Hubli/Dharwad and Harohalli, in addition to 5 per cent reservation for women entrepreneurs in all industrial areas.
KASSIA further hailed the decision of the reservation for SC/ST/Minorities in the Industrial Estates.
General Secretary, KASSIA, N C Gopinathan said there will be a visible markup in industrial growth beyond Bangalore once the proposed four state industrial corridors in Dharwad-Koppal-Raichur, Chitradurga-Haveri-Karwar, Raichur-Bagalkot-Belgaum and Tumkur-Shimoga-Hassan sectors are commissioned.
The only discordant note in the new policy was the proposal to allot KSSIDC/KIADB land on 99-year-lease.
KASSIA said, “Ignoring its suggestion to allot land on 10-year-lease cum sale or alternatively exempt the applicability of 99-year-lease to the MSME sector, on the grounds that land was the only asset that remained with the small entrepreneur and the only insurance against any adverse eventuality.”
The KASSIA is pinning on the hope of assurance given by the Chief Minister when the delegates met him during last week of August. He had then promised that exemption of 99 years lease to MSMEs would be sympathetically considered. (KNN Bureau)
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