Karnataka
Guarantees Will Hit Infra Development 'To Some Extent': Karnataka Congress Minister Gets Candid
Karnataka Chief Minister Siddaramaiah launching the Shakti scheme.
Minister for Small Scale Industries and Public Enterprises, Sharanabasappa Darshanapur, on Saturday, 24 June, admitted that the guarantee schemes in Karnataka will have an impact on the infrastructure development in the state.
As a result of the various freebies promised by the Karnataka Congress, the development of infrastructure will be affected 'to some extent', the Minister was quoted as saying.
Speaking at an interaction with industrialists and traders in Karnataka's Kalaburagi district, the Minister said that the development will pick up pace in the second year of administration. He added that the state exchequer will have to bear a cost of Rs 40,000 to Rs 50,000 crore to deliver the guarantee schemes.
Additionally, he also ruled out any possibility of a tariff hike rollback. He stated that the decision is solely left to the autonomous body — Karnataka Electricity Regulatory Commission.
The government is considering the possibility of a reduction in the electricity tariff hike for small scale industries. A meeting with Energy Minister K J George is scheduled on 28 June to discuss the same, the Minister added.
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