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K’taka budget 2019 focuses on agriculture but allocation for ‘compete with China’ is appreciable: KASSIA

Updated: Feb 09, 2019 10:15:34am
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K’taka budget 2019 focuses on agriculture but allocation for ‘compete with China’ is appreciable: KASSIA

Bengaluru, Feb 9 (KNN) The State Budget 2019-20 for Karnataka, presented by Chief Minister HD Kumaraswamy, is heavily tilted towards agriculture and the farming community besides combining populist measures aimed at different segments, said Karnataka Small Scale Industries Association (KASSIA).

However, KASSIA applauded Chief Minister, who also holds finance portfolio, for emphasising the need to reckon with China in the sphere of manufacturing and making allocation towards meeting the challenges posed by China to industry in the State.

“Some of the measures aimed at the development of industry such as strengthening the Vasanthanarasapura Industrial Hub in Bangalore-Mumbai Industrial Corridor and allocations made for ‘compete with China’ in addition to creation of some new industrial areas in the State are indeed welcome," said KASSIA.

KASSIA also welcomed the grant of Rs 80 crores for providing common facility to small and micro, coir industries and the grant of Rs.50 crores to provide incentives to private investors for the development of industrial sheds.

The President of KASSIA, Basavaraj S. Javali said “While one cannot grudge the emphasis laid on agriculture development, irrigation, augmenting water supply, dairy development, emphasis on silk farming and industry, one would wish there was focus and emphasis on growth and development of MSMEs in the State.”

He stated that MSMEs are the backbone of the economy and absolutely essential for creation of jobs and incomes to the vulnerable sections of the society. While agriculture can support the population up to a point, one needs industry to bring about rural transformation.

KASSIA said “While these are significant, one hoped to see a clear roadmap and focus on the development of SMEs in the State which has been the vociferous demand of industry in the State. We can only hope that the proposed new industrial Policy will address some of these. We hope that the allocations made for agriculture and the related sectors will help by giving a spurt to the rural economy which might indirectly benefit Commerce & Industry, particularly SMEs, by spurring demand for products and services produce by the SME sector.”

KASSIA also hopes that all these proposals would be pursued with the required focus and zeal for the benefit of the state and its people.

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