Karnataka Struggles to Implement Approved Investments
Bengaluru: Despite its efforts to attract businesses, Karnataka has only seen 11 per cent of approved investments materialize since 2018-19. A review meeting chaired by Chief Minister Siddaramaiah revealed that out of 122 investment plans worth Rs 4.29 lakh crore approved between 2018-19 and 2023-24, only 38 projects worth Rs 51,229.15 crore have been implemented, creating 34,509 jobs.
Many projects are still in the ‘under implementation’ or ‘initial stage’ phases, with districts like Chamarajanagar, Chikkaballapur, and Ramanagara yet to see any projects take off. With the flagship Invest Karnataka summit scheduled for February 2025, Siddaramaiah emphasized the need for better execution of approved projects.
During the meeting, concerns were raised about illegal mining and improper quarry practices, prompting Siddaramaiah to order immediate corrective actions, including a review of existing policies and crackdown on illegal mining activities.
As Karnataka strives to boost its industrial growth, effective implementation of approved investments becomes crucial for the state’s economic development.
Published on: 08 July 2024, 23:05 IST