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.
Drop a comment
Latest News
- Budget Highlights 2016
- Few mega industries may shut units in Goa: GCCI
- GCCI supports DefExpo, but opposes Quitol as a permanent venue
- Mining could start rolling now as Centre exempts export duty on Goa’s ore
- Goa industry disillusioned with union budget
- Goa's SA winner writers planning joint strategy on killings of rationalists
- Asian Mycological Congress in Goa from 7 Oct
- Nobel to Tagore was 'western politics': Teotonio
- GCCI welcomes union budget & hike in mining royalty
- Parrikar objects to mining cap by SC
Budget
- GST may take Goa’s tax revenue up by 25%
- Parrikar assures garbage-free, beggar-free, kerosene-free Goa
- Slogans of Caurem tribals speak louder than their suppressed voice…
- Reduced VATs on sweets, garments, AA canteens in Kejriwal's Budget
- Permission must to cut coconut tree; Agro-Milk-Fish funds doubled
- Once again, Parsekar presents a surplus budget of Rs 159 Cr
- Petrol up nationally; will Parsekar rollback the budget-hike of VAT on petrol?
- Budget Highlights 2016
- More VAT in Goa budget may hike Petrol price
- Miscalculations on Mining pushes Goa into huge deficit of Rs 1000 crore!
