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MANGALORE: The Kanara Small Industries Association (KSIA), Mangalore, has said that the Karnataka Government has released an investment subsidy of Rs 5.65 crore for small-scale industries (SSI) in Dakshina Kannada district.

A release by the KSIA Secretary, Mr Nigam B. Vasani, said that the SSI units that applied for subsidy between November 1, 1999 and March 31, 2003 (excluding poultry farms, brick-manufacturing units and personal investments) would be given 50 per cent of the subsidy due.

The subsidy amount will be paid directly to clear the loan taken by the SSI units either from the Karnataka State Financial Corporation or other financial institutions. The release requested the SSI units to contact the Joint Director, District Industries Centre, Yeyyady, Mangalore, for further details.

In another release, the KSIA Vice-President, Mr M. Krishna Bhat, has expressed unhappiness over the decision of the Karnataka Government to introduce the Karnataka Special Tax on Entry of Certain Goods Act 2004 and to withdraw Form 37.

Mr Bhat said that many SSIs in the State are on the verge of closure due to the policies of the Government. Introduction of entry tax will affect the survival of SSIs in the State, he said.

More Stories on : SSI | Karnataka

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