KASSIA appreciates K’taka Budget for focusing on MSMEs

Bengaluru, Mar 15 (KNN) Karnataka Small Scale Industries Association (KASSIA) has appreciated the state chief minister Siddaramaiah for focusing on MSMEs in the state budget.

“KASSIA would like to profoundly thank the Chief Minister for presenting an outstanding Budget with great focus on the Micro and Small Enterprises (MSMEs),” said the industry body. 

The MSMEs had urged the CM to address the issues of industrial land allotment for SMEs and the other closely related matters.

“We are grateful that the Chief Minister has kindly considered our continuous pleas and reintroduced 10 years lease cum sale policy for micro and small enterprises up to   2 acres,” KASSIA said. 

“KASSIA’s long appeal for a separate directorate for MSMEs has been granted and will go a long way in giving special focus needed for the development of micro and small enterprises in the State, an extremely important sector for employment and incomes to the most vulnerable sections of the Society,” it said.

The industry body also appreciated large allocation made to C&I Department of Rs.2250 crores and welcomes the 25% concession for allotment of sheds to category 1, 2A and 2B entrepreneurs by the KSSIDC. 

Industry also welcomed the announcement of making a special grant of Rs.5 crores to KASSIA to establish a Centre of Excellence at Dabaspet.

The measures in the Budget such as the special assistance to SC/ST entrepreneurs in terms of power subsidy and exemption of processing and legal charges for loan disbursements will be beneficial to this important section. The increase in the quantum of loan to women entrepreneurs at 4% is a great help, said KASSIA.

The emphasis on new generation industries such as robotics, nano technology, IOT, artificial intelligence, stem cell research among others and the proposed formulation of special policy for them is the need of the hour.  The Machine Tool Park in Vasanthanarasapura and the allocation of Rs.400 crores to KIADB for land acquisition in the Chennai-Bangalore-Chitradurga corridor are very thoughtful steps that will spurt industrial development along with the other measures announced in the budget. 

The budget has also made considerable allocations to social infrastructure sectors such as education, health, water resources development and related areas which will help build a good eco system for economic development.