TEAM HERALD
PANJIM: The Goa Chamber of Commerce and Industry and Confederation of Indian Industries, Goa chapter welcomed Chief Minister Manohar Parrikar’s budget describing it as progressive and forward looking budget which will give direction to Goa’s development and infrastructure even in the midst of one of its worst economic crisis.
GCCI President Narayan Bandekar said, “All in all this is a very progressive budget which GCCI expects to spur investments , promote growth and employment and social contentment.”
The CII-Goa Chapter Chairman Atul Pai Kane and Vice Chairman Kirit Maganlal appreciated the government’s budget proposals with its thrust on agriculture, education, infrastructure and industry.
While the government has lost nearly Rs 2000 crore in mining revenue since September 2012, the GCCI has complimented the government for achieving a growth of 8.47% as compared to the projected national growth rate of 5-6 per cent and for managing to raise revenues and restrict fiscal deficit.
GCCI and CII have expressed satisfaction that demands such as Investment Policy and establishment of an Investment Promotion Board, improving upon the Plot Allotment, Transfer and Sub-leasing Policies, making available land for industry by establishing new industrial estate as well as by coming with a solution for freeing land locked up in SEZ have been met.
CII’s recommendations of Logistics Park at Dharbandora, Verna and Pernem have been met in the budget. The industry has hailed the idea of increasing FAR which the Chamber feels will help in expansion of industries within their existing plots.
On taxation, the Chamber had requested for extension of NPV, reduction of Entry Tax rates on copper and on movement of goods from one local area to another within Goa have been met, said the GCCI chief in his statement issued Wednesday.
The Chamber which had asked for concessions in Stamp Duty for the construction industry was also happy that this demand has been granted.
CII welcomed the proposals for training various government employees as setting up its own cadre and training of people for jobs and skills where set stipend will be paid.
On Mining, the GCCI has hailed Parrikar for continuing with remission in taxes on the barges and trucks, in addition to allocating funds for continuing with financial assistance already being given to the mining affected.
“The proposal to expedite the resumption of mining with a cap of 25 MT on fresh ore and 20 MT on dumps seems to be reasonable,” opined the Chamber.
CII Goa also appreciated it as a good plan to reduce KTC’s debt, which would make it more viable and hopefully improve the services across the state.
CII Goa welcomed plans to spend a further Rs 150 crore on sports infrastructure, Netravali model village development providing Rs 10 crore.
“It is a good plan with Rs 25 crores for infrastructure to those builders who pay infrastructure tax,” the CII officials said.
The GCCI and CII welcomed improvement in education infrastructure, development of skills, incentives offered for research and benefits given to students pursuing higher studies and linking education with industry.
The Travel and Toruism Association of Goa led by Francis Braganza pointed out that budget has many indirect benefits to tourism even as the tourism stakeholders expected more by way of direct benefits. TTAG its pre-budget memorandum contained many other demands which have not been considered.
The indirect benefits , TTAG opined, would come from provisions for preparing the Tourism Master Plan, funding for beach security, funding for restoration of forts, women police battalion, underground cabling of coastal areas, construction of new jetties which will encourage riverine tourism, Aqua Park, funding for Bondla, concessions for Marinas, additional infrastructure for National Games, reduction of VAT in aviation fuel and incentives for frequently flying airlines.
As far as direct benefits to the hospitality trade, TTAG pointed out to continuation of luxury tax concessions which were given in the previous budget, excise licences permitting serving of liquor in coastal areas and major cities, subject to payment of higher fees.
The TTAG rated the budget presented by the government today as regards tourism in scale of 10, at 6.
Welcoming the tourism initiatives in the budget the GGCI Wednesday said that it will improve the tourism infrastructure and garbage management and waste disposal.
“Concessions on VAT on ATF for those airlines which plan to originate their flights from Goa is an excellent initiative as it will generate huge economic activity and provide good employment opportunities,” said the GCCI chief Narayan Bandekar in a statement issued.
