On the model of Pradhan Manrti Mudra Yojana (PMMY), the State government in its budget of the year 2020-21 would launch a scheme to ensure easy access to credit for youths interested in entrepreneurial ventures and for medium, small and micro enterprises (MSMEs), Chief Minister B.S. Yediyurappa has said.
Speaking after inaugurating an employment mela in the city on Monday, he said that lack of access to credit should not become a deterring factor for entrepreneurs who have the potential to create jobs.
Mr. Yediuirappa said that at the World Economic Summit held in Davos, Switzerland, the investors were apprised of the economic potential of moffusil centres in Karnataka. It is necessary to adopt a decentralised approach towards industrialisation and attract the industrial investment for tier-2 cities such as Shivamogga, Hubballi and Belagavi. The State government would soon announce a slew of benefits and relaxations for the investors who venture to set up industries in these places. The connectivity and infrastructure would also be upgraded in tier-two cities to attract the investment.
Terming the ‘Invest Karnataka-Hubballi’ meet held in Hubballi recently as a grand success, Mr. Yediyurappa said that similar events to attract investment in tier-2 centres would be held across the State shortly.
He said that the priority would be accorded for balanced growth of all the sectors of the economy in the budget. “Both agriculture as well as industrial sectors should perform well for balanced economic growth. Ample funds would be allocated in the budget for extension of the area of irrigated land in the State,” he added.
Govind Karjol, Deputy Chief Minister, and B.Y. Raghavendra, Shivamogga MP, were present.