PANJIM, FEB 29 - Chief Minister Digambar Kamat has congratulated the Finance Minister for having presented an aam admi budget. He said that the Union Budget ?08 presented today by the Finance Minister P Chidambaram has unveiled a blueprint for the overall development of the country within the framework of the National Common Minimum Programme. While expressing confidence that the budget would sustain the growth process, he said that it would also stimulate investment and consequently growth process. Kamat said that the schemes and incentives introduced in the budget will give the necessary spurt to the rural economy and create additional incomes in the hands of the rural people which will expand the market, create demand for industry and set in motion a multiplier growth process.
Chief Minister further mentioned that five-year tax holiday which will be applicable on new hotel projects and also on new hospitals to be set up in rural areas will boost the hospital and medical tourism sector of the State. Kamat said that he is extremely pleased that the FM has extended the incentive scheme for pharmaceuticals. Further deduction of excise duty, from 16 per cent to 8 percent, on pharmaceutical industries will also help in promoting Goa as prominent pharma hub of the country.