The State Budget presented on Friday was “a well thought about, balanced and a developmental Budget’‘ and Chief Minister Siddaramaiah focused on a wide spectrum of core areas such as agriculture, energy, women empowerment, education, skill development, healthcare, Bengaluru development and beyond Bengaluru, reacted trade body representatives in Karnataka.
Focus on Beyond Bengaluru
The trade body FKCCI called it a balanced Budget focused on the growth, revival, and development of Beyond Bengaluru. The establishment of a mega textile park in Kalaburgi and the construction of new textile parks in Kittur-Karnataka, Kalyana-Karnataka and Mysore region would boost investment inflow to the state and create employment, it said.
“The proposed integrated township in Mysuru, Mangaluru, Hubbali, Dharwad, Belagavi, Kalaburagi, Tumakuru, Kolar and Ballari also would spur economic growth in tier 2 and tier 3 cities in the State,’‘ said Ramesh Chandra Lahoti, President, FKCCI.
APMCs to get a new look
The thrust given to the agricultural sector, particularly the allocation of ₹10 crore for the digitisation of APMCs, would smoothen the operation of the traders community and farmers. “Establishment of cold storage in APMCs, establishment of dry chilli market, establishment of bio-CNG plant and establishment of EV charging centres and petrol bunks will add value to APMC infrastructure,’‘ Lahoti added.
Upgradation of industrial estates
Kassia welcomed the proposals of the upgradation of industrial estates with central government support and also subsidisation of IPO expenses of small and medium industries. The Chief Minister also mentioned the participation of government departments and public sector undertakings in TReDS portal which would make the functioning of MSMEs easier by getting the payment on time from them, said C.A. Shashidhara Shetty, President, Kassia.
However, he added, ‘‘There are several other interesting proposals, but the Budget allocation for capital outlay is very minimal, which may not be sufficient to execute the proposals in our opinion.” The Chief Minister restricted the revenue deficit and fiscal deficit within the limits mandatory under the Karnataka Fiscal Responsibility Act 2022, he noted.
