Bommai confident of Karnataka contributing USD 1.5 Trillion to India's economy by 2025

Stating that Karnataka is set to become the number one state in the country in overall economic growth, Chief Minister Basavaraj Bommai on Tuesday expressed confidence that the state will contribute USD 1.5 Trillion to realise Prime Minister Narendra Modi's dream of making India a USD 5 trillion economy.

The CM in his address at the 'Vision of Karnataka 2025' conclave organised by the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) said, "By 2025 the economy would have attained pace and buoyancy. I am confident of Karnataka making a significant contribution of $1.5 Trillion to realise PM's dream of making India a $5 Trillion economy. The gross domestic product (GDP) growth would double. With financial discipline and planning there would be growth in the agriculture, industry and services sectors," said Bommai.

He added, "I have given greater impetus for economic growth in this year's budget. The size of the budget has been increased by Rs 19,000 cr. Even the experts had not expected this. It was predicted that the budget would be loaded with freebies as it is a pre-election budget, but we have come to the rescue of those who help the state. We have extended a helping hand to those who toil under the hot sun."

Bommai further stated that infrastructure projects like roads, railways, airports and ports have received a big boost. Special investment regions would come up at Dharwad and Tumakuru.

Food parks would be set up in every district. The Chennai-Mumbai corridor, textile parks at Gulbarga and Vijayapura would lay a strong foundation for sustained economic growth, the CM said.

Karnataka CM stressed the need for equity in economic growth. He said, "Special emphasis has been given for the development of Bengaluru. The peripheral road has been approved and the tendering process is on."

He said that packages have been finalised for Ring Roads in all cities. Satellite Town Ring Road (STRR) from Dabaspet to connect with Chennai Highway and Mysuru road would be taken up. Metro is being extended. Tenders have been invited for the Suburban Rail project.

"Our government is laying a strong foundation for a bright economic future. It is a pro-people government," Bommai added.

Ministers Dr K Sudhakar, BA Basavaraj and FKCCI office bearers were present at the event on Tuesday.

( With inputs from ANI )