PANAJI
Chief Minister Pramod Sawant on Tuesday hailed the Union Budget presented last week and said Goa, being a coastal State, will benefit from Finance Minister Nirmala Sitharaman's Rs 25,000-crore push for maritime infrastructure, boosting the State's blue economy.
Sawant said benefits of the Maritime Development Fund mooted in the budget by Sitharaman will certainly percolate to Goa, it being a coastal State which will help the shipbuilding enterprises here and overall boost the entire blue economy.
Sawant also said that the entire budget focuses on four key sections -- the poor (Garib), youth (Yuva), farmers (Annadata) and women (Nari) -- even as he called it "pro-people" with the huge no income tax for up to Rs 12 lakh annual income tax break for the middle class.
Sawant who addressed a press conference at the State Secretariat flanked by ministers Subhash Shirodkar and Subhash Phaldesai, also welcomed the Centre's move to enact a new Income Tax Bill next week, which will aim to simplify tax processes and reduce the burden of the citizen to ensure compliance.
Meanwhile, assessing the budget for what specific benefits will percolate from it to Goa, Sawant said in the devolution of taxes alone Goa’s stands to get over Rs 523 crore more than last year at Rs. 5,490.62 crore.
He also said that the State's request to continue the special assistance in the form of interest-free loans for capital investment has found favour in the budget.
"Rs. 1.5 lakh crore has been allocated for the 2025-26 fiscal and Goa will get its share. Already, the State has availed Rs. 1,185.17 crore through it until January this year," Sawant said, adding that another budget initiative to increase the loan limit from one-lakh to 5 lakhs for farmers will benefit at least 17,500 farmers who are already availing loans.
A new credit scheme for startups led by tribal women entrepreneurs, with loans of up to Rs 5 lakh, was also announced, Sawant said, adding that the revamping of the PM Svanidhi scheme will help some 3,000-odd street vendors from Goa.
On the tourism front, Sawant said Goa is expected to benefit from the proposal to upgrade 50 top tourism destinations in collaboration with States.
Besides, enhanced MUDRA loans for homestays will be an added incentive for the industry as will the Centre's decision to promote "Heal in India" medical tourism module, he said.
