The BJP government on Monday set in motion the process of formation of the Veerashaiva Lingayat Development Corporation (VLDC) with an allocation of ₹500 crore.
The initial cost of setting up of the corporation would be borne by the Backward Classes Department, which will later be reimbursed, the Government Order issued on Monday said. The corporation will be registered under the Companies Act, and the Backward Classes Commissioner will oversee the formation till the time a managing director is appointed.
The initial announcement to set up the VLDC was made last week by Chief Minister B.S. Yediyurappa after his Cabinet colleagues, including Deputy Chief Minister Laxman Savadi and Agriculture Minister B.C. Patil, urged him to form the corporation. The move came close on the heels of the announcement to form the Maratha Development Board and Kadugolla Development Board, all of which were viewed as vote attracting announcements ahead of the bypolls.
Meanwhile, P.R. Ramesh, Congress MLC, has demanded a separate corporations for Tigulas.
