LUB-K President Srikanta Dutta
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Bangalore Gets a two New Lung Spaces at Malleswaram and Byappanahalli

Bengaluru, NFAPost: Laghu Udyog Bharati-Karnataka (LUB-K) termed the Karnataka State Budget 2021-22 as a “Please all Budget” as the BJP government announced a slew of measures that fosters the growth of the farming community, rural masses, and industrial development in the State.

Welcoming the State Budget 2021-22, LUB-K President Srikanta Dutta said Chief Minister B S Yeddiyurappa has done an excellent balancing act by addressing issues related to the farming community, rural masses and the industry by announcing several schemes in the budget 2021-22 which will support overall economic development of the State.

“In line with the direction set in the Union Budget 2021-22, the State Budget also provides greater thrust to overall development of the State. Be it infrastructure and industrial development, education, health, irrigation, family welfare, horticulture, fisheries, sericulture, water resources, healthcare, etc., every sector has a budget allocation which is very commendable,” said LUB-K President Srikanta Dutta.

A long-standing demand of LUB-K with regard to announcing a slab system in property tax has been addressed in this Budget. “Our demand to announce a slab system in property in industries in urban areas has been addressed in this budget. This will encourage new Capex spend in the state,” said Srikanta Dutta.

Industrial township

Similarly, LUB-K had represented to the government to build Industrial Township in Peenya, which again the government has agreed with an allocation of Rs 100 crore.  Srikanta Dutta said the Mega Integrated Industrial Townships will be established in both the Bengaluru–Mumbai and Bengaluru-Chennai industrial corridors on a minimum of 500 acre land at each of the places utilising the available opportunities.

“These townships, which will be developed with public–private partnership in collaboration with Karnataka State Industrial and Infrastructure Development Corporation and Karnataka State Small Industries Development Corporation, is expected to attract investment of Rs.10,000 crore in the next three years with an expectation of creating employment opportunities for five lakh people,” said LUB-K President Srikanta Dutta.

Another long-standing demand of LUB-K was with regard to urgent upgradation of ITIs has also been addressed in this Budget. “The upgradation of 150 government ITIs (Industrial Training Institutes) at a cost of Rs 4,636 crore to create the trained human resources is a highly welcome measure as LUB-K has been constantly representing with the state government to upskill the student community in-tune with industry requirement. This has been fulfilled,” he said.

Food startup

Srikanta Dutta commended the Chief Minister for pointed focus on Food startups. “In order to encourage organic farming the Government has allocated Rs 500 crore which will benefit food startups. Similarly, the increase in subsidies for small food processing units to 50% is very welcome. The announcement of a new Food Park at Vijayapura and Horticulture Technology Park at Koppal district will enormously encourage MSME entrepreneurs to promote Agri-food processing and allied sectors under the One-district-One product scheme, which Karnataka government is a pioneer,” said LUB-K President Srikanta Dutta.

Several announcements like formulation of State Mineral Policy 2021-26. KREDL (Karnataka Renewable Energy Development Limited) to establish a 500 MW Solar Park on 1,551 acres at Firozabad, Kalaburagi through private developers, Advanced Biotech Innovation Centre for Aqua-Marine to come up at Mangaluru, costing Rs 6 crore to develop biotech industries and innovative start-ups, establishment of Venture Capital Fund of Rs 100 crore are all forward looking statements which will foster growth of industries in Karnataka.

Specifically, for the IT capital Bangalore, Chief Minister B S Yeddiyurappa has announced the construction of corridors for the traffic-free movement of vehicles which is the main bane in Bangalore.

Suburban rail

The Rs 850 crore budgeted this year for the suburban rail project, doubling of Yeshwathpur-Channasandra and Byappanahalli-Hosuru lines to be completed by 2023, Koramangala Valley Rajakaluve Development and Maintenance project at Rs 169 crore, Bengaluru Signature Business Park to come up next to Kempegowda International Airport Limited (KIAL), Upgradation works of 248 MLD capacity sewage treatment plant at KC Valley at a cost of Rs 450 crore, all these will change the face of Bangalore in the coming days.

LUB-K President Srikanta Dutta said the thrust to accelerate the sub-urban rail and road widening across main artery roads, will enormously ease commuting of masses in the city and improve the image of Bengaluru brand building exercise which has been one of the main demands of LUB-K.

“The various proposals and allocations to BMTC, BDA, BWSSB and BBMP are a clear indication of the focus and attention to address the infrastructure needs of Bengaluru. As a direct result, all this should certainly attract fresh investments into the State,” he said.

Srikanta Dutta also welcomed the revision of Karnataka Start-up Policy and said this will encourage innovations, creation of more employment and accelerating economic development in the State.

He also welcomed the special incentive scheme announced to attract investments in the ESDM sector with an aim to increase competitiveness. Capital subsidy will be provided under this scheme on land, plant and machinery.

Reimbursement of fee

Various incentives including 100% reimbursement of stamp and registration fee and land conversion fee will be provided. This, he said is expected to create 43,000 direct employment with a possible investment of Rs.5,000 crore in the next five years.

The icing on the cake in the budget 2021-22 was that Bangalore which is almost termed as a “dead city” due to high-pollution levels will now get a new lung space.

Srikanta Dutta said the Government’s decision to convert the land belonging to Mysore Lamps Limited in Malleshwaram as “Experience Bengaluru Centre” is highly commendable as a new lung space will be created right in the heart of Bengaluru which will help stabilise pollution in the City.

“Similarly, it is very commendable on part of our CM to create a “Tree Park” giving the experience of a forest to people which will be opened in 105-acre land belonging to NGEF at Byappanahalli,” he said.

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