Following the presentation of Karnataka’s State Budget by Chief Minister Siddaramaiah, various trade bodies have commented on its direction, perceiving a continued governmental commitment to economic growth, industrial development, technology advancement, and balanced regional development across the state.
Ganesh Rao, President of the Karnataka Small Scale Industries Association (KASSIA), identified several encouraging measures for industry within the budget. These included initiatives for infrastructure creation, skill development, and the expansion of industrial activities beyond Bengaluru. Rao also suggested that more targeted support for Micro and Small Enterprises (MSEs) could further bolster the state's industrial ecosystem.
The budget's focus on industrial growth is anticipated to support Karnataka’s strategy to attract investments in Tier-2 and Tier-3 cities, outlined in the "Beyond Bengaluru" scheme and the Industrial Policy 2025–30. Rao highlighted that decentralised industrial development holds the potential to reduce regional disparities, create significant employment opportunities, and foster new markets for MSEs statewide. Additionally, improvements in urban infrastructure and mobility are expected to facilitate new development corridors.
Source: https://www.thehindu.com/news/national/karnataka/budget-reflects-states-continued-focus-on-diverse-growth-trade-bodies/article70713353.ece
