The Hindu : Karnataka / Bangalore News : Package to lure investors to backward districts likely

Online edition of India's National Newspaper
Thursday, Jan 11, 2007
ePaper

Karnataka

Karnataka - Bangalore

Package to lure investors to backward districts likely

Special Correspondent

It will be similar to the one adopted in Uttaranchal and Himachal Pradesh

BIG PLANS: Industries Minister Katta Subramanya Naidu and Speaker Krishna with officials and industry representatives at a meeting in Bangalore on Wednesday. — Photo: K. Murali Kumar

BANGALORE: The State Industries Department is examining the possibility of evolving a special package to lure investors to the backward districts as well as second and third-tier cities by offering various sops and concessions.

Disclosing this at a meeting of the representatives of industries' associations and the Industries Department organised by the Confederation of Industries and Traders Associations of Karnataka in Bangalore, Large and Medium Industries Minister Katta Subramanya Naidu said the package would be similar to the one adopted in Uttaranchal and Himachal Pradesh.

However, he desisted from divulging details on the nature of sops planned.

The Minister said he would seek the opinion of industry leaders on the proposed package, which was likely to be implemented from the next financial year.

It would look into various issues such as whether there was a need to form more Special Economic Zones, he noted.

The Minister also announced that the Government would unveil a Rs 176-crore project by the end of this month to upgrade infrastructure in the 175 industrial estates of the State. Various facilities such as power, water supply, underground drainage and road would be upgraded under this project.

He announced that the Government would release the second instalment of subsidy arrears of Rs. 150 core to the small-scale industries in the last week of January.

The Janata Dal (S)-Bharatiya Janata Party Government had released the first instalment of subsidy arrears of Rs. 150 core, which had been pending since 1999, he said.

The Minister said the Government would take action against those using industrial land for real estate purpose. He said the Government would ensure that such persons were sent to jail. He made the statement following complaints that several persons in Bidar were using government land, which had been allotted to them for setting up industrial units, for real estate purpose.

Speaker Krishna, who presided over the meeting, called upon political parties and farmers' organisations to come to a consensus on acquiring of farmland for industrial purpose.

Printer friendly page
Send this article to Friends by E-Mail

Karnataka