Goa lost Rs 1200 cr on ARM : Parrikar

PTI, PANAJI | 16 December 2010 19:54 IST

Goa government has missed the additional revenue mobilisation (ARM) target of Rs 1200 crore to be achieved in the last five financial years, except some relief which they got after charging export duty ad valorem on the iron ore, Leader of Opposition Maohar Parrikar today said.

"In the last five years total Rs 1,200 crore was expected from the government through additional revenue mobilisation but they hardly touched the figure of Rs 50 crore during the period," Parrikar said.

He was addressing professionals and industrialists in Panaji today, during the gathering during India Corporate Week''s program in Goa, organised by various organisations, including Goa Chamber of Commerce and Industries (GCCI).

Parrikar said export duty on iron ore charged ad valorem has given certain respite for the state government''s revenue mobilisation efforts.

"The luck was that central government amended the royalty act and the mines exports came to 10 per cent of the declared value of the mineral instead of earlier declared royalty of Rs 13 and Rs 27," he said.

He further added that suddenly there was a windfall from that sector to the tune of Rs 480 crore.

Noted industrialist Dattaraj Salgaocar was guest of honour and Varun Sood, Managing Partner, Capvent AG, Switzerland, was the key note speaker at the function.

The former Chief Minister said that while state government has fiscal deficit, the corporates have different kind of deficit, its ethical deficit. .

goanews.com is now on Telegram & also Youtube. Kindly subscribe for free & remain updated.

Drop a comment

Enter The Code Displayed hereRefresh Image

Latest News