Industrial sector stakeholders of Goa expect the state government to make its stand clear on the mining sector during the budget session which is to begin on Monday. Besides, the stakeholders also highlighted the need for employment generation in the state.
The Goa Chamber of Commerce and Industry (GCCI) in its pre-budget memorandum has said that Goa can attract Rs 25,000 crore in investments if the government offers tax exemptions. This will also lead to creation 50,000 jobs in the state, the body said on Sunday.
“The union Department of Industrial Policy and Promotion (DIPP) has notified guidelines for the excise free zone scheme for eligible manufacturing units in Jammu and Kashmir, Uttarakhand, Himachal Pradesh and North Eastern States including Sikkim,” GCCI said in its memorandum, adding, that a 58 per cent of reimbursement on the Central Goods and Service Tax will be given to companies operating units in these states for period 10 years beginning from the date of GST implementation.
GCCI has demanded that Goa government should give certain incentives to the local industry. “The NPV scheme has expired and there is an urgent need to extend options to encourage manufacturing and to generate employment in Goa,” it stated.
The industry body also demanded relief to the mine owners. “The mining Industry, which at one point was the highest contributor to the state GDP, had been shut down following suspension of mining activities from September 2012 onwards. The iron ore prices have been constantly falling and are presently at an all-time low. Taxes imposed on the industry, by the state and Central governments are very high,” GCCI said.
The Supreme Court recently cancelled that 88 iron ore mining leases operating in Goa and asked for them to be auctioned. These leases had been renewed in 2015. This has given another jolt the mining sector in Goa.
Information credit: PTI