Budget 2014: K'taka will now have an industrial corridor, textile cluster

New Delhi, July 11: The people of Karnataka may not be very happy with the rail budget this year, but were elated to know that the city that is considered the Silicon Valley of India is to get more perks for further development. In the Union Budget presented by

yesterday, he announced development schemes for Bangalore and Karnataka, especially harping on the handloom and the handicraft here. Mysore is to have a textile clustre worth 200 crore.

But, the industries were not ignored too. The government announced a Chennai-Bangalore industrial corridor, a Bangalore-Mumbai eco-corridor, a Biometric clustre and a smart city in Tumkur.

However, the State is disappointed that it did not get any premier institutions such as IIT or AIIMS this time, despite the FinMin's announcement that several such institutes will be set up across the country. The Karnataka Government, however, had been pushing the Centre for reputable institutions to enable local students to pursue higher education.

Presenting the party's maiden budget, Arun Jaitley proposed that Tumkur will have one of the three industrial smart cities to be developed in the proposed Chennai-Bangalore Industrial Corridor region. Assuring speedy planning, the minister also said that the master plan is expected to be ready by the end of the current financial year.

He also declared that the perspective plan for the Bangalore-Mumbai Economic Corridor would be completed in this fiscal itself.

The biotechnology clustre will get a boost at par with international standards, which will include global partnerships in accessing model-organism resources for disease biology, stem cell biology and high-end electron microscopy.

Bangalore will also have a new debt recovery tribunal.

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