The KARNATAKA BUDGET 2023-KCCI Views
The KARNATAKA BUDGET 2023-Kanara Chamber of Commerce & Industry (KCCI) Views
Mangaluru: With elections round the corner, the Karnataka Budget 2023 presented by Chief Minister Shri Basavaraj Bommai has been a typical election year budget with huge allocation for agri, health, education and women empowerment. Towards employment generation impetus has been given to the IT Sector to maintain Karnataka’s leadership as also a Start-Up Policy has been put in place. An increase in the limit for exemption from Profession Tax to Rs. 25000/- will help the salaried class. As a sop to businesses and industries which are suffering from legacy issues on the GST front, the proposal to set up a KAR SAMADHAN SCHEME to settle old dues with reduced interest up to 30th Oct 2023 is welcome.
As far as the Coastal Districts are concerned, the Fisheries Sector has received a boost especially Deep Sea Trawling under the MATSYA SAMPADA YOJANA. Mangaluru – Karwar – Mumbai waterway has been proposed as a welcome proposal and it is hoped this doesn’t only remain on paper as there has been much talk about this in earlier years.
However, there is no specific mention of the proposed IT Park and New Industrial area for Mangaluru which is a big disappointment. It was expected that the Government would attend to the long pending demand for an IT park in Mangaluru as also outlay for the New Industrial Area at Balkunje which is still hanging fire. Moreover, the long pending request of MSMEs to reduce Stamp Duty on a mortgage of the property to banks for loans has not been addressed. The proposal to ease CRZ norms is a silver lining for the people of Coastal Karnataka.
It is also hoped that out of the separate fund allocated for the Development of District Main roads, Dakshina Kannada which contributes a huge amount to the exchequer will be given a fair share.
While KCCI welcomes all the good initiatives in the Budget, we hope the developmental issues for Dakshina Kannada District not addressed in the Budget will be prioritised in the future.
For KANARA CHAMBER OF COMMERCE & INDUSTRY
M. GANESH KAMATH
DIRECTOR / PRESIDENT
