Karnataka government approves the 70% local jobs policy

Karnataka government approves the 70% local jobs policy. This is a new industrial policy for 2020-25, that aims to allocate 70% of the total job openings to Karnataka people.

Karnataka govt. approves 70% local jobs policy

The industries Minister of Karnataka, while announcing this policy says that the state aims to attract Rs.5 lakh crore worth of investments. Under this policy, around 20 lakh job opportunities will be provided.

This new policy will also help Karnataka to become third in merchandise exports in the whole country. Currently, it is in the fifth position. The state is also aiming for a 10% increase in industrial growth. In order to achieve this, the state is promoting industrial activity in areas other than Bangalore

The investment promotion will also be provided to the companies based on the turnover. These companies will receive 10% of the turnover per year, until 5 years. Exemption of stamp duty, concession on registration charges will also be provided.

These companies will also be provided with reimbursement of land conversion fee. But for medium, large, and mega industries the investment subsidy will be of 1.75% to 25% for a total period of 5 to 10 years

Also, read: Indian companies lack empathy: Ratan Tata

Under this new policy, the state also wants to develop private industrial parks which helps in providing several job opportunities

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Also, read: Zoom plans to open a technology center in Bangalore
Uttarakhand CM writes to Sundar Pichai to invest in the state
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Indian companies lack empathy: Ratan Tata

The head of Tata Group, Mr.Ratan Tata says that Indian companies lack empathy as they layoff employees in these pandemic times. He also says that it is a knee-jerk reaction to layoff employees

Indian companies lack empathy: Ratan Tata

In an interview, Mr.Ratan Tata says that the top leadership of these companies does not have empathy for its employees. In his own words “These are the employees who worked for you. These are the people who have served you all their careers. You send them out to live in the rain. Is that your definition of ethics when you treat your labor force that way?”

This pandemic has brought several losses to the Tata group. But still, these companies did not layoff any of its employees. Across the nation, several companies fired their employees due to lack of revenue

However, the salaries of the top officials at the Tata company are cut by 20%. Almost all the Tata group companies belonging to Airlines, Hotels, Finances, have incurred several losses

But they did not fire any of their employees till now. Mr. Ratan Tata says that if the company is not sensitive to its people, it cannot survive.

He further says that while everyone is chasing profits, if you are not ethical to your employees, there is no point. Business is not always about making money. Sometimes it’s about being ethical to your own employees

He also says that the important thing right now is to not shy away from making difficult decisions.

Also, read: Zoom plans to open a technology center in Bangalore

Ratan Tata was asked about the thing he missed the most during this lockdown. His response was ” Itโ€™s not been yachts, manors, and huge estates. Itโ€™s been a wonderful experience of interacting with people who stand for the same ideas as you do… thatโ€™s something Iโ€™ve come to miss “

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Also, read: Uttarakhand CM writes to Sundar Pichai to invest in the state
Government extends WFH terms for IT and ITES companies
Headcount of the top 4 IT firms fell by 9000 in Q1

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