GCCI urges Centre to give one-time grant
GOANEWS DESK, PANAJI | 26 February 2013 22:56 IST
Goa chamber of Commerce and Industry has urged the centre to give a special one-time grant of Rs 1000 crore to Goa, due to mining crisis.
In a pre-budget memorandum submitted to union finance minister P Chidambaram, the GCCI has envisaged a revenue hit of not less than Rs 7750 crore.
The revenue loss towards central taxes would be around Rs 4500 crore and Rs 1250 crore towards state revenue, stated GCCI president Mangirish Pai Raikar, in a letter addressed to Chidambaram.
“While the shortfall in revenues on account of Goa may be insignificant to the Centre, the State , given the small size of its revenue base, will find it difficult to make up for the 25% shortfall in the revenues”, stated GCCI president.
The GCCI has also presumed that the position occurred due to mining ban would not improve in the ensuing fiscal year as the case is before the Supreme Court.
He also observed that though Goa is ranked as one of the best states in India as an
investment destination and on quality of life, in reality, Goa is an industrially backward state.
The GCCI has also recommended to the union finance minister to grant income tax exemption under section 10B to new industrial units in Goa since the state has decided not to have Special Economic Zones, which are granted similar exemption.
