Report on Karnataka's new industrial policy soon

The report on the suggestions to frame the new industrial policy would be submitted to the government in a month.

Meetings have already been held in Bangalore and Mysore and would soon be held in Gulbarga and Hubli announced P P Prabhu, chairman of the core committee set up to frame the new industrial policy and former Union commerce secretary, here on Wednesday.

He was interacting with the members of the Kanara Chamber of Commerce and Industry (KCCI) which suggested the streamlining of the single window agency headed by the deputy commissioner, set up by the government.

The agency's decisions should be binding on all departments. They also wanted basic facilities to be provided to small scale industries such as Provident Fund and ESI, help in marketing of products of small and medium scale industries, releasing of subsidy meant for small scale industries, end to the inspector raj and BIFR type system for revival of small and medium scale industries.

A memorandum was submitted by A Srinivas Rao, president of KCCI to the committee.

The present policy expires by March 31, 2006. The new industrial policy will be implemented from April 1, 2006 for a period of five years.

The government had set up a task force consisting of seven members drawn from industries and economics to review the existing policy and formulate the new policy for the next five years. The new policy is expected to give thrust on attracting investment.