PANAJI
The Goa government received Rs 5.04 crores from the Economic Development Corporation (EDC) interest on land acquisition amount deposited by various government departments, as well as the dividend for the financial year 2022-23.
EDC Vice Chairman Sanjay Satardekar handed over cheques totalling Rs 5.04 crore to CM Pramod Sawant.
EDC Chairman Sadanand Shet Tanavade said that for FY 2023-24, the corporation reported a provisional income of Rs 94.30 crore, with a profit after tax (PAT) of Rs 54.45 crore approx. “As of March 31, 2024, the EDC’s outstanding loans stood at Rs 795 crore, with a Gross Non-Performing Assets (NPA) ratio of 0.61 percent, and no Net NPAs. The EDC’s net worth is currently Rs 860 crore. There have been no defaults on outstanding loans sanctioned since 2010-11,” Tanavade said.
He further stated that to support first-generation entrepreneurs, the EDC has simplified its flagship scheme, Chief Minister’s Rozgar Yojana (CMRY) “ 2023, to include a larger section of Goa’s business community.
The scheme now covers both new and existing businesses seeking expansion or diversification. “Moreover, the income ceiling for applicants has been removed and the age limit has been relaxed to 50 years. The effective interest rate for borrowers under the CMRY scheme has been set at 2 percent per annum,” he added.
