‘State budget must provide taxation relief for industries’

Panaji: State govt needs to create a reliable and efficient mode of transport, provide better water and power distribution systems, support key economic sectors, and keep tax rates unchanged, said the Goa Chamber of Commerce and Industry (GCCI) in its budget recommendations.

GCCI president Srinivas Dempo said there is an urgent need for a mass transport system (MTS) for reliable and efficient commuting, especially in light of the two operational airports in the state and in view of three new eight-lane highways connecting to Goa shortly.

Dempo also said the state budget must provide taxation relief for the industry. “No new taxes or increase in existing taxes should be imposed on industries. Also, amendments to VAT laws were suggested to prevent double taxation on input tax credit for discounts received,” he said.

The GCCI president submitted the industry’s wishlist for the budget to chief minister Pramod Sawant. Dempo said the recommendations were framed after extensive consultations with industry stakeholders and contain key recommendations that will improve the ease of doing business in Goa, improve infrastructure, and foster overall economic growth.

GCCI has called for the creation of common effluent treatment plants, hazardous waste disposal facilities, and common firefighting systems for Goa’s 23 industrial estates. Construction of a flyover or an underpass at the Verna junction, regular dredging of rivers, and establishing a truck terminus at the unused Sanjivani sugar factory land have also made it to the list of GCCI’s recommendations.

GCCI has also said it expects budgetary outlay to improve power and water supply. “A robust plan for better water and power distribution systems to cater to the increasing demand from industries was proposed.

GCCI also proposed raw water supply to the industrial estates and diverting the treated water for domestic use,” Dempo said.

GCCI has asked Sawant to withdraw the stamp duty on power of attorney and rationalisation of stamp duty for the mining industry to promote ease of doing business. To boost the mining sector, funds for dedicated mining corridors and river logistics need to be earmarked.