granite policies
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Government Policy The present trend of liberalization, privatization, should help the industry. For industrial growth Many state Governments should formulate their policies in considering grant of adequate areas on lease for sufficiently longer periods so as to instil confidence and courage in the entrepreneurs in taking the investment decisions. In order to encourage the new entrepreneurs, the central and the state Governments are offering a number of financial incentives and concessions for those who started the small scale industries and processing units of granite. In order to stimulate industrialization throughout the state, the Government is offering facilities and incentives to prospective entrepreneurs wishing to set up industries in Karnataka. The incentive scheme was also introduced in the state In 1961 and has been modified several times to make it more attractive and keeping in view the needs to achieve the goal. Fourteen districts of the state are covered under central subsidy scheme where investment subsidy at 15% to 10% is given. Besides, fiscal concessions like income tax rebate, higher depreciation allowance, lower rate of interest, longer periods of moratorium and repayment power rebate of 5% for the first three years is given etc.