To facilitate this, the government introduced the Goa Investment
Promotion Bill 2014.The Goa Investment Policy which envisages 50,000 jobs and Rs 25,000 crore investment in the next five years, had proposed setting up of the Board for speedy clearances of the investment proposals. The Board, a statutory institution, with Chief Minister Manohar Parrikar as its chairman, will be one point contact authority for all investments in Goa, especially those above Rs 5 crore and where the area requirement of land is equal or above 3000 sq mtrs. The projects below Rs 5 crore would be looked after by board’s sub-committee headed by vice chairman — the Minister for Information Technology. The Bill introduced by Industries Minister Mahadev Naik speaks about the powers, duties and functions of the Board, with prime focus on promotion of Goa as an investment destination,
nationally and internationally. It has to provide and facilitate obtaining approvals from the government and other bodies and also provide assistance in obtaining clearances from the Centre. Powers to approve, reject and review proposals and appoint sub-committee for evaluation and clearances of investment proposals will rest with the board. It will also draft approval process, guidelines and standard operating procedure for new investments. “Identifying infrastructure gaps which hinder investment growth on an ongoing basis and suggesting short, medium and long-term rolling plans to the government to bridge the gap. All necessary measures will have to be taken to boost and promote agricultural industries, cottage industries, dairy farming and eco-tourism,” the Bill reads.
Identifying and recommending investment promotion areas to government, which would be demarcated for investment purposes is
the responsibility of the board. However, this land should not include khazan land, paddy fields, sloppy land, forest land, tenanted agricultural land and area under coastal regulation zones. The Board has Minister for Tourism, Minister for Industries, secretaries, six members associated with industrial sector, will be board members. The board will also have to constitute the Goa Investment Promotion Fund.
