Goa gets Rs 200 crore to restore beaches

SANDESH PRABHUDESAI, PANAJI | 26 February 2010 15:34 IST

Goa is getting Rs 200 crore to restore Goa’s beaches. It’s a Special Golden Jubilee package given by the union finance minister Pranab Mukherjee, while presenting the annual financial budget today.

Mr Mukherjee's budget speech stated: "I propose to provide a sum of Rs.200 crore as a Special Golden Jubilee package for Goa to preserve the natural resources of the State by restoring Goa's beaches which are prone to erosion, and increasing its green cover through sustainable forestry."

Goa starts celebrating golden jubilee of its liberation by the year end. The tourist state was liberated from the Portuguese on 19 December 1961.

The budget also expected to boost the booming housing industry in Goa. The union budget has provided one time interim relief to the housing and real estate sector which was impacted by the global recession.

The proposal allows pending projects to be completed within a period of five years instead of four years for claiming a deduction on their profits. It has also proposed to relax the norms for built-up area of shops and other commercial establishments in housing projects to enable basic facilities for their residents.

Mr Mukherjee has also extended the one per cent subvention scheme on housing loans for one more year, making a provision of Rs 700 crore.

The budget speech states: "While presenting the Union Budget for the year 2009-10, I had announced a Scheme of one per cent interest financial support on housing loans up to Rs.10 lakh where the cost of the house does not exceed Rs.20 lakh."

Another one-year extension in the union budget may help the tourism industry in Goa, especially in the star category. It primarily caters to new hotels, of two-star category and above.

Mr Mukherjee states: "Last year, I stated that profit linked deductions are inherently inefficient and liable to misuse. To incentivise businesses in priority sectors, I introduced investment linked deduction as an alternative to profit linked deduction.  To give a boost to investment in the tourism sector which has high employment potential, I propose to extend the benefit of investment linked deduction under the Act to new hotels of two-star category and above anywhere in India."

Click here for the complete budget speech


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Previous Comments

This is the man who can get us to do the catching up on what we missed in the 5-year Plan. These are only sops. We want Special Status for Goa, as promised by late Mr. Nehru. If it were not for late Mr. Rajiv Gandhi, we would not have got Statehood. Surely, without opening Pandora's Box Mr. Pranab Mukherjee, can do a lot.

- Ludovico, Old-Goa | 28 th March 2011 17:19

 

dave WHY DONT YOU BE A POLITICIAN ANY SHOW PEOPLE HOW TO UTILISE THE MONEY N ALL.. ITS VERY EASY TO COMEN OVER HERE WHEN ITS TIME THAT MATTERS YOU ILL BE THE FIRST PERSON TO ELECT THE SAME POLITICINS FOR YOU NEEDS...

nOW CAN YOU COMENT ON THIS

- Chetan , RIBANDER | 28 th March 2011 02:09

 

While we welcome the 100 crores to restore beaches, we have to see whose pockets it goes.

I sit back and laugh. We have been liberated many years now. Has Goa improved? NO. But yet we see the same miserable politicians elected year after year, same politicians have destroyed and robbed Goa, Goa is worst than before. dave

.

- dave, uk | 04 th March 2010 19:00

 

More money for politicians

- sanjay dessai, Curchorem goa | 02 nd March 2010 06:29

 

How much of those two hundred crores will actually be spent on the beaches and how much will find its way in the pockets of the corrupt politicians and babus?

- vishwas prabhudesai, loliem | 27 th February 2010 16:50

 

So nice for some. Our beaches will still remain putrid whilst our ministers pocket 200 crores.

- noel, australia | 27 th February 2010 14:04

 

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