Creation of 11 new industrial townships proposed

The state government has proposed setting up of 11 new industrial townships in Karnataka.

The townships will be developed through Karnataka State Small Scale Industries Development Corporation at Koppal, Ballari, Yadagir, Dharwad, Tumakuru, Mysuru, Chamaraganagar, Bengaluru Rural and Ramanagara districts.

With this, the government aims to attract investment for the development of micro, small and medium scale industries in grade 2 and 3 cities.

Chief Minister Siddaramaiah on Friday announced allocation of Rs 1,681 crore to the Commerce and Industries Department in the state Budget for 2018-19. During the year 2018-19, the government has proposed auctioning of eight new iron ore blocks and mining exploration of 30 mining licenses ending in 2020 will be taken up.

"Capital investment is a challenge for the entrepreneurs to start micro and small manufacturing industries," Siddaramaiah said in his budget speech. For this, the government has proposed that 10% interest subsidy will be given from the date of release of loan amount upto 5 years to all entrepreneurs of the State who take loan through KSFC to start micro and small scale manufacturing industries.

The government is also considering formulation of a comprehensive infrastructure development project. The project will be implemented at a cost of Rs 900 crore during 2018-19, as a part of District Mineral Foundation.

Better logistics

The government has proposed to formulate a Logistic Policy for "better co-ordination between Seaport, Airport, National Highway, ICD, CFS, Warehouses and for seamless movement of goods from the production point to the consumers".

To improve the goods transportation facilities, the government has proposed development of two multi-modal logistic parks in an area of 400 acres near Bengaluru and in an area of 50 acres at Hubballi.