In its Budget 2021-22, Karnataka Allocates Rs.500 Cr for Food Startups to Boost Organic Farming

Karnataka’s Chief Minister B S Yediyurappa has presented the state budget for 2021-22 on March 8, 2021. The budget didn’t levied any new taxes.

He said that his government will set up goshala in each district in the state to prevent slaughter of cows and to conserve livestock. The other key highlights of the budget was a grant of Rs.50 crore that has been set aside to provide a top-up subsidy of 15 percent from state government to increase the 35 percent subsidy given by the Centre to Food Processing and Post-Harvest management units under Atmanirbhar Bharat to 50 percent.

The government will also allocate Rs.500 crore for the benefit of food startups, while a new park will come up in Vijayapura. The government has also increased subsidies to 50 percent for small food processing units.

Interestingly the Karnataka Government will also increase reservation for farmers’ children from 40 to 50 percent in Agriculture University.

Further for the development of bio-technology industries and innovative startups, and to encourage the production of light food items utilizing the bioactive compounds available from fish and sea weed, Advanced Bio-Tech Innovation Centre for Aqua-Marine will be established in Mangaluru at an estimated cost of Rs.6 crore.