Bangalore Chamber of Industry and Commerce

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BCIC termed Karnataka State Budget 2020-21 as "A Win- Win Development Budget with special focus on Namma Bengaluru", March 5th, 2020

The Budget encompasses measures taken for balanced development across all sectors in Karnataka aiming at removal of regional disparities, development industry, tourism & agriculture, social justice & harmony, nurturing and protection of land, water and culture.   

The New Industrial Policy and Invest Karnataka Summit 2020 aims at increasing in-flow of capital into the state benefitting the Industry at large. The Textile and handloom industry can expect both relief and incentive for growth through the Textile and Readymade Garment policy implemented in this budget. The Electric Vehicle and Energy Storage Manufacturing Cluster and the Defence and Aerospace Equipment Manufacturing Cluster by KIADB are inspirational moves by the government and something the industrialists can look forward to.

Entrepreneurs can seek assistance through the Sakala Scheme by KIADB and KSSIDC for expediting delivery of services like allotment of land, lease cum sale deed,etc.

This budget has also made ample provisions for the welfare of the citizens through a multitude of provisions like Braille cum Talking library for the visually impaired, women safety portal, procurement of goods by women self-help groups, Free pre-paid health cards and Mobile Clinics.  

Bengaluru contributing to 50% of the GSDP has been given due consideration in this budget through the 'Mukhyamanytigala Nava Nagarothana scheme'. The following projects are something Bengaloreans can look forward to: Solid Waste Management, Restoration of lakes, Waste to Energy Power generation Centre in Bidadi, Extension of two metro lines, Road cross over facility, Outer Ring Road Construction, Sub Urban Railway Construction, 300 air conditioned electric buses, Bus priority lanes, Underground Vehicle Parking, Electric Bike Taxi Project and much more.  

Mr. Devesh Agarwal, President, BCIC commended the chief minister, B S Yedurappa by saying" This budget is surely a boon for Bangaloreans focusing on solving the long standing traffic issues and delayed infrastructure projects through establishment of Sub-Urban Railways, Underground Vehicle Parking and Outer Ring Road Construction. Public transport will attract more passengers through the Electric Bike Taxi Project for last mile issues, Extension of metro lines and addition of electric vehicles."

MR. T. R Parasuraman, Sr. Vice President, BCIC called the budget an impetus for industrial growth stating, "The Chief Minister has made an inspirational move with the Electric Vehicle and Energy Storage Manufacturing Cluster making Karnataka the first to do so and we are proud of the same. The investment structure can also look forward to blooming through the New Industrial Policy."