Industry bodies give thumbs up to ‘balanced budget’

BENGALURU: Industry bodies have welcomed a number of initiatives announced by Chief Minister BS Yediyurappa in the budget presented on Thursday.“Karnataka Small Scale Industries Association (KASSIA) welcomes the CM’s emphasis on the development of specific industrial clusters in the districts, which we hope will help disperse the industry’s development,” said R Raju, president, KASSIA.

The decision to bring the services provided under Sakala by the Karnataka Industrial Area Development Board and Karnataka Small Scale Industries Development Corporation, for the allotment of industrial land, will help overcome various hurdles and meet a perennial demand of KASSIA, he added.

Federation of Karnataka Chamber of Commerce and Industry (FKCCI) termed it as a balanced budget. “Several measures have been taken for the development of Bengaluru. Underground parking will ease traffic congestion in the city and we also welcome the reduced stamp duty on low-costing houses. Despite of deficit budget, additional taxes were levied only on petrol, diesel, transport and excise sectors,” said FKCCI president C R Janardhana.

Sandeep Singh, chairman CII Karnataka and Managing Director, Tata Hitachi said the government has focused on creating a social infrastructure with many socially relevant initiatives. “The focus on agriculture, water resources, irrigation and industrial development is vital for the state. The amendment of Section 109 of the Karnataka Land Reforms Act which will ease business activities in Karnataka,” he said.
Reduction in stamp duty on registrations of new apartments will boost investments in the segment, said Kishore Jain, president, CREDAI Bengaluru. “The real-estate sector was hopeful that the government will address its problems at large. The primary demand of the sector has been overlooked. There is a need to broaden the scope of the provision and include mid-income housing too.,” he added.