Bengaluru, Mar 9 (KNN) The Karnataka government will execute the recommendations of a report prepared by the Planning Department committee to grow into a USD 1 trillion economy by 2032.

Chief Minister Basavaraj Bommai has asked the state administration to follow the roadmap to achieve the economic status in the next 10 years.

The report is prepared by the Planning Department committee to scale up the state economy to create massive opportunities for the people of Karnataka.

Bommai underlined that the state Budget unveiled last month already has incorporated over 70 per cent of the recommendation to help Karnataka scale up the size of the economy.

CM Bommai’s USD 1 trillion economy is in tune with Prime Minister Narendra Modi’s USD 5 trillion economy target in the next few years.

“A committee, constituted by the Planning Department under the chairmanship of Additional Chief Secretary (Finance Department) ably assisted by FICCI, and McKinsey in collaboration with department secretaries and industry experts, has recommended a set of initiatives to increase the GDP of the State to USD 1 trillion. The insights from this document would go a long way in achieving USD 1 trillion economy for Karnataka,” CM Bommai said.

“I am happy to see that the recommendations of the committee aim at increasing growth rate of agriculture from 13.3 per cent to 16.3 per cent, industry from 8.8 per cent to 16.8 per cent, service sector from 13.6 per cent to 16.9 per cent, aiming for the overall growth rate at 16.8 per cent by 2032,” the Chief Minister added.

Bommai said that a large number of recommendations of the committees have been announced during this year’s budget.

“…like increasing area under micro irrigation, digitising agriculture improving post-harvest management and social and economic infrastructure, Youth internship, strengthening of MSMEs, Tourism, etc. In order to ensure regionally balanced growth aspirational taluk program has been announced. Data Lake to use Artificial Intelligence (AI) based big data analytics for policy making has also been announced,” he said.

In his foreword to the report, CM Bommai added, “We propose to make district as a fulcrum of growth and development by strengthening capacity building, infrastructure support and delegation of powers to field level functionaries.”  (KNN Bureau)