TEAM HERALD
NEW DELHI: Finance Minister Arun Jaitley on Thursday announced development of the world class convention facilities in Goa in close cooperation with private sector.
Other gift to Goa in his 130-minute long Union budget speech in the Lok Sabha included an Indian Institute of Technology (IIT). Goa that already has a National Institute of Technology (NIT) is among five states to get the IITs, other states being Kerala, Chhattisgarh, Andhra Pradesh and Jammu & Kashmir.
Pointing out that Goa has already emerged as a major international convention centre, besides being the permanent venue for International Film Festival of India, he declared that the Centre will fully support the (Goa government) initiative to develop the world class convention facilities in PPP (Public Private Partnership) model through the VGF (Viability Gap Funding) scheme under which financial support is extended to plug the gap.
Another news of interest in his budget speech was the promise to resolve expeditiously the current impasse in the iron ore mining sector, with changes, if necessary, in the MMDR (Mines and Minerals Development and Regulation) Act, to facilitate it. He also announced that the revision of royalty on minerals is overdue since it is to be revised every three years while the last revision took place way back in August 2009. “Therefore, another revision which is due will be undertaken to ensure greater revenue to the state governments,” he said.
