Technology is the fulcrum of economic development in Karnataka. The State Budget presented by our Chief Minister Shri B. S. Yediyurappa has received further boost and impetus for growth.
Here are some of the highlights from the budget for Information Technology, Biotechnology and Science & Technology sectors.
- A venture capital fund with a corpus of Rs 100 crore will be set up, with the state government contributing Rs 25 crore, and the remaining contribution will come from other institutions. It will help us maintain the leadership position the state has in innovation.
- To encourage quantum computing and related technologies, we will set up a ‘Research Park’ at an expenditure of Rs.10 crore.
- Data and privacy are essential business imperatives today. We understand the criticality and need for a well-laid-out policy. In 2021-22, we will release a Cyber-Security Policy and a data center policy.
- Karnataka Start-up Policy that has contributed significantly to encourage entrepreneurs to innovate and launch new businesses will be revised to utilise the already existing congenial environment in Karnataka fully. The crux of this policy is to encourage innovation, create more employment and accelerate economic development.
- To make the EDSM sector more competitive, we will provide capital subsidy on land, plant and machinery. Various incentives, including 100% reimbursement of stamp and registration fee and land conversion fee, are included. It will create 43,000 direct employment and a possible investment of Rs.5,000 crore in the next five years.
- We are establishing an advanced Biotech Innovation Centre for Aqua-Marine in Mangaluru at an estimated Rs six crore to develop biotechnology industries and innovative start-ups to produce light food items utilising the bioactive compounds available from fish and seaweed.
- We will invest in creating an online platform to collate and manage public-private partnership model proposals under the Aatma Nirbhar Mission of the Government of India.
- Bengaluru will become a geospatial hub. Under the National Geospatial Policy, Karnataka State Remote Sensing Application Centre (KSRSAC), with private participation, will offer services utilising geospatial technology.
- Proposed Horticultural Technological Park in Sirivara village, Koppal Taluk, will encourage economic development, impart quality training, and introduce innovations and technology.
- Our Government will encourage research of solar electric devices and their technology. The popularity and mass adoption of the electric vehicle reduces air pollution. We will set up 1,000 charging centers under a public-private partnership.
- With the objective of helping students and the public to develop a scientific temper, a sub-regional science center will come up in Sirsi at the cost of Rupees seven crore. Further, to encourage scientific thinking, a novel Akashavani programme series ‘Vijnana Malike 500’ would be broadcast.
After much thought and deliberations with the respective industry veterans and experts, we have put together these initiatives and schemes. Our Chief Minister and as the minister of the portfolio, I am eager to commence work on the above programmes. We look forward to receiving support from all stakeholders.