Karnataka to amend Revenue Act

Bangalore, May 8 (UNI) The Karnataka government is contemplating to bring an Amendment to the Revenue Act for facilitating private industrialists to purchase land directly from the farmers.

Speaking to newspersons Minister for Large Industries Katta Subramanya Naidu said today. at present the land was made available to the industrialists through the Karnataka Industrial Area Development Board (KIADB).

As the process was leading to inordinate delay, it was proposed to amend Sec 79 A and 79 B of the Act. The move would not only help to save valuable time but also enable farmers to get better price, he added.

Mr Naidu said it was proposed to extend power subsidy and relaxation of VAT for five years for the industries established in the most backward taluks of the State. About 134 taluks have been identified as backward taluks and the move to extend tax sops and power subsidy would attract more entrepreneurs to set up industries in these areas.

The government is also planning to give Capital Subsidy to Wind Mills to coming forward to supply power to the industries at subsidised tariff.

Replying to questions, the Minister said a state-level Small and Medium Industries convention would be held in Bangalore during September.

He said Rs 210 crore was released towards subsidy arrears to the Small and Medium industries.

Under 'Suvarna Kayaka' scheme, more than 40,000 youth have got employment in various industries and the one-lakh target would be reached by the end of this year. Except IT and BT industries, there was overwhelming response to the state's scheme, he claimed.

UNI