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The Karnataka government is facing pressure from industry associations to contest a recent High Court ruling on minimum wages. They fear that a substantial increase could adversely affect manufacturing and service industries. They argue that minimum wages in neighboring states are lower, and further hikes could erode competitiveness.
Uniindia: Bengaluru, Oct 19 (UNI) Karnataka Small Scale Industries Association (Kassia) has urged Chief Minister Basavaraj Bommai to immediately cut 35 per cent sales tax on fuel and the centre to reduce Rs 32.90 excise duty charged on fuel per litre.
Help us pay salaries, Kassia urges Nirmala Sitharaman
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The Karnataka Small Scale Industries Association (Kassia) has urged the Union government to provide direct financial grants to small and medium enterprises (SMEs) by paying 50% of the salaries of these units at least for the next three months.
“This will not only help keep these units and their employees alive but will also stimulate the economy in multiple ways,” the industry body wrote to Union Finance Minister Nirmala Sitharaman.
In the absence of a quick and targeted one-time cash infusion into the sector, some 25 to 30 per cent of the SMEs in Karnataka employing lakhs of people may completely go out of business, it cautioned.