BENGALURU: The high-level clearance committee, headed by Chief Minister Siddaramaiah, approved two projects with an investment of Rs 558.72 crores, at the 40th meeting of the committee, on Monday. These projects are expected to create employment for 932 people.
Official sources said that one the approved projects is for a textiles project at Tumakuru with an investment of Rs 410 crore by Toyota Industries India Private Ltd to manufacture textile machines near Vasanthanarasapura while the other is for a steel project in Ballari with an investment of about Rs 148.72 crore by Ecomaister Beads India Pvt Ltd for establishment of a unit to manufacture slag ball near Toranagal. In 2013-14, the committee approved 255 projects with an investment of Rs 42,176.54 crore, generating employment for 1,71,451 people.
During 2014-15, it approved 108 projects with an investment of Rs 54,433.01 crore, generating employment for 56,101 people. During 2015-16 so far, the committee has approved 78 projects with an investment of Rs 24,018.99 crore, generating employment for 16,328 people.
State 9th in ease of doing business
Karnataka was today ranked ninth among the States on the ease of doing business, according to the World Bank. Gujarat was ranked first, while Andhra Pradesh and Jharkhand were placed at second and third positions, respectively.
Others in the list of top ten states in the country providing a better climate for businesses include Chhattisgarh, Madhya Pradesh, Rajasthan, Odhisa, Maharashtra, and Uttar Pradesh. The ranking, prepared by World Bank at the behest of the government, was based on eight parameters which include setting up of business, allotment of land, labour reforms and procedure for environmental clearance.
Pitching for further ease of doing business, World Bank country director Onno Ruhl, in his foreword to the report, said, “A disproportionately high regulatory burden is borne by businesses in India today.”
Because of regulatory burden, India has been ranked 142nd among 182 nations ranked in World Bank’s Doing Business study, he added. Various initiatives taken by India in recent times, Ruhl said, would help government in focusing on “implementation of reforms relating to start a business, resolving insolvency, enforcing contracts, and trading across borders”.
