Bommai – The new Indian Express
BENGALURU: Chief Minister Basavaraj Bommai said on Saturday necessary changes would be made to existing laws in the next legislative session to allow for the creation of special investment regions in Dharwad and Tumakuru. Bommai, who holds the finance portfolio, had announced in the budget the decision to create the two special investment regions. The government has drafted the Special Investment Regions Bill to implement this initiative.
Bommai was speaking after laying the foundation stone for the new building of the Karnataka Materials Testing and Research Center here on Saturday. “With the establishment of special investment regions, Dharwad and Tumakuru will become major industrial hubs. This will lead to the economic development of the two regions,” Bommai said. He said the government is committed to improving the facilities at the Karnataka Materials Testing and Research Center and will sanction Rs 4 crore to purchase advanced equipment. Reiterating his government’s promise for industrial growth in the region, the CM said the proposed FMCG cluster in Dharwad would not only house hundreds of small and large industries but is also expected to generate a lakh of jobs.
Later, in inaugurating a state-level conference of district chambers of commerce and industry here, Bommai said that capital investment and technology, which is centered on Bengaluru, should be channeled to cities Tier 2 and Tier 3 to ensure state inclusion and equity. growth. “Tier 2 and Tier 3 cities should also have tech-focused industries. This will help them have a solid foundation to continue growing,” he added. “Small towns are full of talent and ingenuity and that should be harnessed by the chambers.” he said and called on the chambers to go beyond commerce and diversify the use of technology to help the youth in the region. “Local industries should take advantage of the next global investor meeting,” he said.
“While governments adopted a market economy after liberalisation, all major economic decisions are market-driven and affect the common man. In the midst of liberalisation, privatization and globalization, conscience has been forgotten and needs to be restored,” he added. As a progressive state, Karnataka ranks first in all industrial and investment indices, he said. “The new research and development policy will be discussed at the next Council of Ministers and a new employment policy is in preparation”, he added.
On the issue of the GST on pre-packaged foods, Bommai invited chamber representatives to meet with him to discuss their apprehensions. He said that since he was leading the group of ministers for any new taxation, issues raised would be referred to the planning committee. He said steps would be taken to address the problem of double taxation in industrial zones. “Will bring single taxation, and self-assessment of tax will also be introduced for industries,” Bommai added.
BENGALURU: Chief Minister Basavaraj Bommai said on Saturday necessary changes would be made to existing laws in the next legislative session to allow for the creation of special investment regions in Dharwad and Tumakuru. Bommai, who holds the finance portfolio, had announced in the budget the decision to create the two special investment regions. The government has drafted the Special Investment Regions Bill to implement this initiative. Bommai was speaking after laying the foundation stone for the new building of the Karnataka Materials Testing and Research Center here on Saturday. “With the establishment of special investment regions, Dharwad and Tumakuru will become major industrial hubs. This will lead to the economic development of the two regions,” Bommai said. He said the government is committed to improving the facilities at the Karnataka Materials Testing and Research Center and will sanction Rs 4 crore to purchase advanced equipment. Reiterating his government’s promise for industrial growth in the region, the CM said the proposed FMCG cluster in Dharwad would not only house hundreds of small and large industries but is also expected to generate a lakh of jobs. Later, in inaugurating a state-level conference of district chambers of commerce and industry here, Bommai said that capital investment and technology, which is centered on Bengaluru, should be channeled to cities Tier 2 and Tier 3 to ensure state inclusion and equity. growth. “Tier 2 and Tier 3 cities should also have tech-focused industries. This will help them have a solid foundation to continue growing,” he added. “Small towns are full of talent and ingenuity and that should be harnessed by the chambers.” he said and called on the chambers to go beyond commerce and diversify the use of technology to help the youth in the region. “Local industries should take advantage of the next global investor meeting,” he said. “While governments adopted a market economy after liberalisation, all major economic decisions are market-driven and affect the common man. In the midst of liberalisation, privatization and globalization, conscience has been forgotten and needs to be restored,” he added. As a progressive state, Karnataka ranks first in all industrial and investment indices, he said. “The new research and development policy will be discussed at the next Council of Ministers and a new employment policy is in preparation”, he added. On the issue of the GST on pre-packaged foods, Bommai invited chamber representatives to meet with him to discuss their apprehensions. He said that since he was leading the group of ministers for any new taxation, issues raised would be referred to the planning committee. He said steps would be taken to address the problem of double taxation in industrial zones. “Will bring single taxation, and self-assessment of tax will also be introduced for industries,” Bommai added.