Home Articles Change policies to attract investment: Bommai to Centre
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Chief Minister Basavaraj Bommai on Monday sought the cooperation of the Centre to evolve a transparent mechanism to share leads about investors and to come out with a clear policy on forest and environmental clearances required for various projects, extending special incentives to different sectors and developing townships within Special Economic Zones (SEZs).
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These policies require amendments to laws governing urban and rural local bodies, he said during Union Finance Minister Nirmala Sitharaman’s pre-budget meeting with the chief ministers of various states through video conferencing.
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Bommai also said that the Centre should direct banks to finance new businesses, such as electric vehicles and medical technology. He suggested that a dispute resolution mechanism should be devised to resolve disputes quickly outside the court.
‘Despite Covid, K’taka saw highest FDI ’
“Restrictions under the Coastal Regulation Zone should be relaxed to facilitate economic activities in coastal areas,” the CM added. He told the Union Finance Minister that a portion of the district mining fund should be handed over to the state government to repair damaged infrastructure, including roads, which bear the brunt while transporting ore.
He said that despite the Covid pandemic, Karnataka had the highest foreign direct investment inflows last year. “We did not stop. We continued to take up infrastructure development works and initiate measures to attract investments,” he added, giving details of amendments to the Land Reforms Act and labour laws. The state also initiated an affidavit-based clearance to create an investor-friendly ecosystem.
The state is the largest in the research and development sector. To further draw investments into the state, a Global Investor Meet is being held in 2022, he added. Among smaller airports, Bidar and Kalaburagi are operational, while other airports in Shivamogga, Raichur, Vijayapura and Karwar are expected to be operational by next year, he said.
