PANAJI
The State-owned Economic Development Corporation has posted a Rs 77 crore profit-before-tax for the 2024-25 fiscal.
The consolidated accounts of the State-owned non-banking financial company were approved at a board meeting held on Thursday and chaired by Chief Minister Pramod Sawant.
The company has posted revenues of Rs 137 crore for the year 2024-25 and incurred an expenditure of Rs 60 crore, thus posting a Profit Before Tax (PBT) of Rs 77 crore.
At the BoD meet, Sawant hailed the contribution of EDC in promoting entrepreneurship and supporting key economic sectors, which he said played a crucial role in making Goa's financial and business ecosystem robust. He said the government will stay committed to supporting institutions like EDC to give local entrepreneurs a fillip and also encourage investments, which will create jobs.
EDC has consistently played a leading role in boosting Goa's business and manufacturing industry climate and is also the lead agency for a number of initiatives of the State government. It also implements the self-employment scheme of the Goa government – Chief Minister's Rojgar Yojna (CMRY) – and such other initiatives to encourage local entrepreneurship.
Sawant has been its chairman ever since Sadanand Tanavade relinquished the post after being elected the State's lone Rajya Sabha MP.
