A revolutionary package says, Minister Nirani

Wholeheartedly welcoming the Union budget presented by Minister for Finance Nirmala Sitharamana, Minister for Large and Medium Scale Industries Murugesh R Nirani has said the announcement of the central assistance of Rs 5,300 crore for Upper Bhadra Project in the drought-prone central region of Karnataka will provide sustainable micro irrigation and filling up of surface tanks for drinking water.

Further, the industries minister has maintained that the announcement in the Union Budget to enhance the export competitiveness of marine products, particularly shrimps, by reducing duty on key inputs for the domestic manufacture of shrimp feed shall contribute to the growth of marine exports from Karnataka. The state produced approximately 1000 tonnes of Tiger Shrimp in 2021 and has also been dealing with a decline in our overall marine exports.  

“The announcement for relief in customs duty on import of certain parts and inputs like a camera lens and continuing the concessional duty on lithium-ion cells for batteries for another year, and the decision to reduce the basic customs duty on parts of open cells of TV panels to 2.5 percent will further add to state’s electronics manufacturing, as Karnataka continues to have lion’s share in India’s electronics and mobile phone manufacturing revolution,” Nirani said.  

Pointing out on budget’s focus on promoting green energy, Nirani said the target to achieve an annual production of 5 MMT of Green Hydrogen by 2030.