Finance minister Arun Jaitley announced that medium and small industries with a yearly turnover of up to Rs 50 crore will get taxed at 25% compared to 30% earlier. This will benefit a lot of companies in Goa as most of them fall in this bracket.
Manguirish Pai Raiker, chairman, ASSOCHAM’s national council for MSME (medium, small and micro enterprises) said, “Almost 85% industries in Goa are medium and small industries and they all will benefit due to tax reduction.”
Jaitley gave a huge push to infrastructure by announcing that 2,000 kms of coastal connectivity roads have been identified for construction and development. He even said that a specific programme for development of multi-modal logistics parks will be implemented.
Pai Raiker said, “MSMEs need proper infrastructure as that will help in bringing the logistics cost down and will also boost investments in this sector.”
