The chamber has also recommended for the revival of State Planning Commission which can then help plan and prepare a sound economic strategy.
These recommendations are based on the suggestions that emerged during the two-day Karnataka Economic Summit organised by the chamber in December 2013. Based on the deliberations held at the above summit, the chamber has come out with its recommendations highlighting various policy initiatives in the areas of governance, urbanisation, infrastructure and social infrastructure.
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These suggestions, if implemented, could propel the state into a high growth orbit and to bring inclusive growth in all sectors of the economy so that the state emerges as a developed one in all parameters, the BCIC said.
It has also recommended to look beyond Bangalore and invest in smaller cities of Karnataka and improve financing of urban local bodies by strengthening the infrastructure of its delivery mechanism.
Regarding the development of infrastructure in the state, the BCIC has recommended for developing a strong public private partnership (PPP) model focused on delivering quality infrastructure rapidly at the lowest cost to the user rather than maximising returns to the government.
Key issues in land management related to illegal encroachments, land acquisition, land use, clear titles among others need to be addressed along with improving enforcement of existing laws in various sectors, it said.
“There is a need to improve enrolment and retention rates at higher stages of school education. Infrastructure of ITIs and other vocational education institutes need to be appropriately strengthened,” the BCIC said.
H V Harish, President, BCIC said: “The two-day summit identified several deficient areas such as regional imbalance in the growth which is focused only on Bangalore; inability to develop other urban growth centres; lack of thrust in manufacturing sector; infrastructure deficiency and inadequate steps to address skill deficit and finally on the lack of focus on job creations. What is most worrying is that the state has lost its growth momentum and poverty decline in the state is the lowest compared to any of the other southern states and this is a cause for worry.”
The chamber has since submitted its recommendations to all the members of the Legislative Council and Legislative Assembly as well as key government officials in the state government seeking their support in recommending the same to the state government to implement some of the policy recommendations, which have been featured in the booklet.
“It is paramount that the state government should address issues relating to social infrastructure by creating skill hubs which could serve as a catalyst for both main stream education as well as vocational training,” said A N Chandramouli, senior vice-president, BCIC.
Though leaders from various industry sectors, academicians and government officials attended the summit and brainstormed on four main themes.
BCIC is looking forward to work with the state government on the above recommendations on continual basis to ensure that the state gets back to its growth trajectory and emerges an ideal investment destination, Harish added.