Centre`s help sought to boost Goa economy after mining ban

Last Updated: Sunday, December 29, 2013 - 18:22

Panaji: The Goa Chamber of Commerce and Industry (GCCI) has requested the central government to make special provisions to give a boost to the state economy in the wake of ban on mining.

The GCCI delegation called on Sumit Bose, the newly appointed Union Finance Secretary, to brief him about the current economic situation in the state.

During the visit, GCCI outlined the adverse impact of ban on mining on the state`s economy as well as revenues.
The iron ore exports in the state had been stopped last year after the Supreme Court took cognizance of illegal mining in Goa, followed by an in-depth probe by Justice M B Shah commission.

GCCI president Narayan Bandekar, who led the delegation, said the chamber requested the Centre to make special provisions to give a boost to the Goan economy and suggested tax exemptions under 80-IB be extended for new units to be set up in Goa, particularly in backward `talukas`.

The chamber also suggested removal of inverted duty structure and recommended virtual SEZ status for specific industries like IT, electronics and pharma.

GCCI recommended extension of tax holiday under Section 80-ID for tourism infrastructure projects such as golf courses, theme parks, amusement parks and others to give a boost to the tourism industry.
While requesting the Finance Secretary to direct the banks to be more sympathetic to mining-related borrowers such as truck, barge and machinery owners by offering them some relief till the mining activity resumes again.
The chamber also requested for concessions for mining service providers who have some service tax liabilities but are not able to discharge as they have not been receiving payments of the bills raised by them.


First Published: Sunday, December 29, 2013 - 18:22

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