Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » India
2-min read

Karnataka new industrial policy targets Rs 5 lakh crore investment

"After discussing in detail the suggestions given, cabinet has approved it today," Law and Parliamentary Affairs Minister TB Jayachandra said.

Press Trust Of India

Updated:September 11, 2014, 8:51 PM IST
facebookTwitterskypewhatsapp
Karnataka new industrial policy targets Rs 5 lakh crore investment
"After discussing in detail the suggestions given, cabinet has approved it today," Law and Parliamentary Affairs Minister TB Jayachandra said.
Loading...

Bangalore: The Karnataka Cabinet on Thursday approved a new industrial policy for 2014-19 with an aim to attract investment of up to Rs 5 lakh crore and create around 15 lakh jobs in the state. "New Industrial policy will be in force from 2014-2019. We had discussed it in the last cabinet and ministers were asked to give suggestions in writing. After discussing in detail the suggestions given, cabinet has approved it today," Law and Parliamentary Affairs Minister TB Jayachandra said.

Briefing reporters, he said the intention is to attract investment of up to Rs 5 lakh crore in a span of five years from 2014-19, and create around 15 lakh jobs. "We also aim to increase manufacturing sector's contribution to the states GDP by 20 per cent," he said. The 2009-14 industrial policy of the previous BJP government ended on March 31.

Jayachandra said that the policy has bifurcated the state into six zones on the basis of average investment and jobs created, compared to four zones earlier and special stress will be given to backward Hyderabad-Karnataka zone. He said that special initiatives have been taken in the policy keeping in mind the interest of micro, small and medium enterprises including skill development, adding, it aims to encourages entrepreneurial ability among SC/ST, backward and minority communities and women entrepreneurs.

Jayachandra said that special steps have been taken to encourage investment from Kannadigas living outside. "Policy will be announced in another 10 to 15 days," he said. The Cabinet also approved the proposal to set up 1,000 micro enterprises in the rural areas with a capital investment of Rs 10 lakh through district industries centers with a view to encourage self employment among youths through a various existing programmes and in coordination with financial institutions.

When asked whether there was any discussion on implementation of the Sarojini Mahishi report on jobs reservation for locals while deliberating on the new policy, Jayachandra said "yes it was discussed. We are gathering information about it. Chief Minister has particularly instructed that information in this regard has to be gathered soon."

Stating that the new policy has given importance to it, he said, "whoever looses land, one member from that family should be given job, it will be monitored seriously...". Noting that the Cabinet has also deliberated on the clearing of pending files, Jayachandra said, "it has instructed all files which are pending from two or three years should be disposed on priority."

"...across departments a total of 1,36,143 files are still pending," he added. Bureaucrats at the state secretariat worked last Sunday to clear pending files following concerns expressed by Chief Minister Siddaramaiah recently over pileup of files across departments.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results