Industry body lauds K'taka budget

The Bangalore Chamber of Industry and Commerce (BCIC) has welcomed the emphasis on the development of human capital by further increasing investment in education, health and social welfare.

This, along with the measures to improve productivity of the agricultural sector, which is the need of the hour along with farm growth, is critical to maintain economic growth, the industry body noted.

"The state has again achieved a revenue surplus which combined with limiting the fiscal deficit of 3 per cent of the state's estimated GSDP, is to be commended," BCIC said in a statement.

The move to increase the outlay to the state's annual plan by 22 per cent and continued support to B-Trac as well as the creation of SPV on connectivity to BIAL was also well received.

"However, one area of concern to the industry is the state of infrastructure which is proving to be a serious bottleneck for economic growth. It is disappointing that not much emphasis is laid on this either in terms of substantial outlays or better management on implementation," the Bangalore Chamber of Industry and Commerce noted in the statement.

The inclusion of a special development plan to redress regional imbalances, all this without increase in taxes is indeed praiseworthy, BCIC officials added.