K'taka Cabinet approves new industrial policy
Bangalore, Aug 24: The Karnataka Cabinet today approved a new Industrial Policy for the period 2006-2011 with a stress on development of new industrial regions and food processing industries in the state.
Informing this to reporters after emerging out of the cabinet meeting here, Primary and Secondary Education Minister Basavaraj Horatti said the new policy would enable the Karnataka Industrial Area Development Board to develop industrial areas which had more than 500 acres.
He said as per the policy, a separate Infrastructure Upgradation Fund of Rs 500 crore would be created for upgradation and maintenance of infrastucture facilities in the existing industrial areas and estates and also in the new ones.
Mr Horatti said the Food Parks coming up in Malur, Bagalkot, Maddur, Hiriyur, Jewargi and Belgaum would be completed next year.
He said the policy also envisaged stepping up of works for early completion of creating special economic zones in Hassan, Mangalore and Shimoga.
Existing incentives for Small Scale Industrial units going in for BIS product certification or ISO series certification would continue with an enhanced financial allocation, he added.
Mr Horatti said the APMC cess in respect of direct procurement of agriculture produce from farmers by processing industries had been exempted.
He said the Karnataka Udyog Mitra would be further strengthened to attract new investments and ensure better coordination while setting up new industrial units.