The republic’s smallest state may be famous for its sussegado attitude but there was business as usual
From new IT policies, Investment policies and the opposition to new projects, there is never a dull moment. This year there was much to write about. From the move by the government to demonetize 86.5% of the currency that is in use in the economy to the hulabaloo over the modalities of the GST, everyone in Goa had much to say.
Like any state, there are a couple sectors that dominate the economic landscape.
Earlier it was mining and tourism but now it is only tourism. The state has been looking at various avenues to increase revenue as well as expand its appeal to tourists. Interested parties have highlighted the possibility of looking at the state as a destination for medical tourism. However the truth on the ground beggars belief.
This year could also be a tough year for tourism with signs pointing out to the number of charter flights landing in Dabolim airport will fall short of the projected number of 1000. Perhaps yet again it will be the domestic tourist who will come in and fill the breach. Another sore sticking point is the poor level of infrastructure has meant those who have businesses in the state have to make arrangements to ensure production is not disrupted. This newspaper has highlighted the experiences of businessmen who have expressed their interest in setting up businesses in the state. The acquisition of land and its distribution is another story that can boggle one’s mind. Despite this rather bleak scenario, there are positive signs. In rural Goa, there are small and medium scale entrepreneurs making a difference. Make in Goa may not be moving at the speed, the government would like but the inherent sense of entrepreneurship is bubbling up to the surface. What could perhaps help the state will be the eventual rollout of the GST. The small size of the market means, manufacturers of various sizes have to look beyond the borders of the state. The present taxation system leaves them at a disadvantage. This also means generating business is tough. The GST will make all things equal. It will mean it will be a more equal turf. This could not have come at a better time given that Goa slipped down from the 19th to the 21st with regards to the ease in doing business. Yes, the parameters discussed in that report involve an assessment of the bureaucracy and other factors.
There is too much at stake for this state to lose the plot. The future of its young, who now continue to leave in large numbers, is at stake. The cashless future that is being dreamt may be an excellent idea but if these basic issues are not sorted out then the state will remain also ran. Good enough for middle or lower middle class tourists to come over and have a good time and nothing else.
