For attracting investors to Karnataka, the BJP government has decided to introduce amendments to Section 109 of the Karnataka Land Reforms Act, 1961, for diversion and acquisition of agricultural lands for industrial purposes.
“We have promised them (investors) to remove all their hurdles. As per their demand we will rectify all administrative problems within a month or two and legal problems in next couple of months by amending the exizting laws”, Chief Minister B.S. Yediyurappa, who attended the World Economic Forum at Davos, told mediapersons here on Saturday.
A team led by Mr. Yediyurappa met more than a dozen investors and entrepreneurs at Davos and promised them all infrastructural and land facilities for setting up industries in the State.
The Karnataka Chief Minister attended the WEF meet after gap of 17 years. S.M. Krishna was the last Chief Minister to attend the WEF in 2003.
The visit assumed significance since Karnataka has decided to hold a Global Investors’ Meet in Bengaluru in November 2020.
“Investors had some doubts and opposition to cumbersome procedures in starting their units and we assured them of solving their problems”, Mr. Yediyurappa said.
During the budget session of the State legislature scheduled to be held next month, the State government has proposed to amend rules under section 109 of the Karnataka Land Reforms Act, 1961, for facilitating farm land to investors without much administrative delay and procedures.
Industries Minister Jagadish Shettar said 12,000 acres were readily available for investors in the State.
