Karnataka: State approves new IT policy, and incentives for ESDM cluster

CIOReviewIndia Team | Friday, 04 September 2020, 04:06 IST

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Karnataka: State approves new IT policy, and incentives for ESDM cluster

In order to increase its contribution towards the goal of a trillion dollar digital India, the Karnataka cabinet has approved a new Information Technology (IT) policy which will also help create six million jobs during the policy period.   

 

The government has said that this policy will significantly help Karnataka regain its top position as the IT hub in the country. The policy outlines its goal to enable “the State’s IT industry to contribute 30% to India’s goal of becoming a trillion-dollar digital economy".

Furthermore, as Karnataka’s economy is centered around its IT ecosystem, this pandemic driven lockdown has proved very fatal for them. It has further exposed Karnataka’s fledgling finances and acute fund crunch.   

The state has stooped down into more debt and has been restoring to amend various laws as the central reduces its cash flows to the state. These new laws would concern industries, land and labour so as to attract more investments. 

“An investment of over ₹5,000 crore is expected by the state through this scheme, with a potential to generate 43,000 direct employment over next 5 years," the government said in a statement.

Moreover, Karnataka has been critically been facing droughts and floods which have seriously affected its livelihood in the state.  

State revenue minister R.Ashok said, “A team from the centre will visit Karnataka on 7 September. He added that the state has sought an interim relief of ₹4800 crore to help provide relief for floods, landslides and rain-related damage in the state this year.”

 
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