Terming the Karnataka Budget for 2015-16 as encouraging, the Mangaluru-based Canara Plastic Manufacturers and Traders Association (CPMTA) said much could have been done for the development of small-scale industry that generates employment.
BA Nazeer, president of the association, said the allocation of Rs 100 crore for infrastructural development of industrial areas, establishment of a vision group to accelerate industrialisation, development of industrial areas in Chamarajanagara and Yadgir districts, and establishment of a 350 MW gas-based power plant in Yelahanka are encouraging for the MSME sector.
He said interest waiver on loans up to Rs 10 lakh for three years under the ‘Swawalambana’ scheme is encouraging for new small entrepreneurs. But the amount of loan should be enhanced to at least Rs 25 lakh, he said.
He urged the Government to issue a gazette notification to completely abolish trade licence for small-scale industries.