New Delhi:
Buoyed by rapid progress of the Delhi Mumbai Industrial Corridor (DMIC) project, the government on Thursday said work on two more industrial corridors between Bengaluru and Chennai and Bengaluru and Mumbai have started.
Finance minister P Chidambaram said in his budget speech that the Department of Industrial Policy and Promotion (DIPP) and the Japan International Cooperation Agency (JICA) were currently preparing a comprehensive plan for the Chennai-Bengaluru Industrial Corridor.
The corridor would be developed in collaboration with the governments of Tamil Nadu, Andhra Pradesh and Karnataka, he said, adding also preparatory work on the next corridor, Bengaluru-Mumbai Industrial Corridor, has begun.
Chidambaram said that DMIC project has made rapid progress and plans for seven new cities on the corridor have been finalised.
Acknowledging the support of the Japanese government, the Finance Minister said, “In order to dispel any doubt about funding, the Government would provide, if required, additional funds during 2013-14 from its share in the overall outlay for the project.”
Karnataka’s share will come down: Jagadish Shettar
The Union Budget presented by Finance minister P. Chidambaram is a lackluster one without any effective measures to revive the sluggish economy of the country. It is anti-growth and anti-development. The economy is facing stagnation following global financial downturn.
The growth of agriculture, manufacturing and service sectors has declined and employment opportunities have reduced. In this background, it was expected that the Union Finance Minister would include necessary schemes and programmes to revive the economy, but this expectation has not been fulfilled.
Due attention has not been given to improve basic infrastructure. We had sought Central support to improve the infrastructure of Bengaluru, but nothing has been forthcoming. During the current financial year, the State’s share in Central taxes is indicated to come down by 3.4%. As a result, Karnataka will get Rs 400 crore less than the budget estimates in financial year 2012-13.
Further, Central assistance for State plan is expected to come down by Rs 18,000 crore, which is 14% of the Budget estimates. As a result, Karnataka will get Rs 1,000 crore less than the budget estimates in FY 2012-13.
No fresh funds have been released for the last three years under PMGSY scheme to States like Karnataka which have successfully implemented it.
source: http://www.DeccanChronicle.com / Home> News> Current Affairs / by DC / March 01st, 2013