News headlines

From daijiworld's special corresondent

Panaji, Aug 9: Goa Chamber of Commerce and Industry has thanked Goa chief minister Pratapsingh Rane and the Goa Government for taking prompt action with regard to the Notification extending the exemptions to new industries from excise and income tax coming up in the hilly States. The Chamber also thanks the Chief Minister for announcing exemption in entry tax on capital goods imported by the new industrial units and also by existing units for their expansion in Goa.

Because of various tax incentives available in various backward States like Himachal Pradesh, Uttaranchal and Sikkim, Goa had lost out on many investment opportunities and the rate of industrial growth in the State was declining. Hence , to attract fresh investments , the Chamber had recently requested the Goa government to offer exemption from Entry Tax. We are sure that with this incentive, the state should not only be able to retain the existing industries but will encourage them to make additional investments for expansion and also attract fresh investments. This will automatically lead to higher employment generation which is thrust area for the government.

The Chamber had also taken up the matter of extension of excise exemptions in the hilly states and its adverse impact on the Goan industry and has thanked the chief minister for promptly taking up the issue with the Centre and demanding similar incentives for industries in Goa. The urgency with which the chief minister has taken up this issue reflects his genuine concern for the Goan economy.

The Chamber has said that the Goan industry will always remember this move on the part of the government and it would reciprocate appropriately. It has also assured the chief minister that the Chamber will always stand by him and support his endeavor to make Goa an ideal industrial destination.


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