New industrial policy in a week

The Karnataka government will announce the new industrial policy within a week. The government is presently giving the final touches to the industrial policy and it will be placed before the cabinet in a week, deputy chief minister B S Yediyurappa said here.

Speaking after inaugurating the state-level conference of small-scale industries of Karnataka organised by the Laghu Udyog Bharati, Karnataka branch, Yediyurappa promised the SSI sector all support from the government. The problems of the small industries will be addressed in the new industrial policy, he said.

"We are committed to safeguarding the interests of the small scale industries and work for their development. The new industrial policy will announce special incentives for the development of industries," he stated.

The state government will provide more facilities compared to the neighbouring states for the all-round development of industries in the state. Special efforts will be made to attract more investment into the state and generate additional employment, Yediyurappa said.

The government had released Rs 80 crore as subsidy to the small-scale industries. With a view to generating employment for around one lakh people and to provide more facilities to the sector another Rs 25 crore will be released soon, he said.

The deputy chief minister said that the government will focus on secondary cities, including Mysore, Mangalore, Hubli-Dharwad and Shimoga. They will be developed as as industrial hubs and industrial houses will be encouraged to invest in these cities, he said.

Yediyurappa said that to provide employment the government will provide Rs 750 stipend to unemployed youth. A final decision will be taken very soon in this connection, he said adding that the government aims to generate one lakh jobs.