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Bangalore, March 10 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 along with the measures to improve productivity of the agricultural sector which is the need of the hour as farm growth is critical to maintain economic growth.

The BCIC is particularly happy about the initiative towards skill development.

Reacting to the vote-on-account budget for Karnataka presented by the Union Finance Minister, Mr P Chidambaram, in Lok Sabha today, BCIC has said the State has again achieved a revenue surplus which combined with limiting the fiscal deficit to less than 3 per cent of the State’s estimated GSDP is to be commended.

The BCIC welcomed the increase in outlay to the State’s Annual Plan by 22 per cent and the creation of SPV on connectivity to the new Bangalore International Airport.

However, it regretted the neglect of infrastructure which is proving to be a serious bottleneck for economic growth.

It was disappointing that not much emphasis was laid on this either in terms of substantial outlays or better management on implementation.

More Stories on : Budget | Karnataka | Industry Associations

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