BackGoa pins hopes on Union budget
Goa pins hopes on Union budget
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Panaji: Goa’s apex industrial organisation is banking on Monday’s Union budget to provide a fillip to its tourism infrastructure.
“Though Goa ranks high in world’s most favored tourist destinations, the state is grossly backward in world class tourism infrastructure," Cesar Menezes, president, Goa Chamber of Commerce and Industries (GCCI), said.
He said the GCCI has urged the Centre that Goa should get tax exemption under Section 80 ID for tourism infrastructure development in the form of amusement parks, water sports, marinas and other.
As pre-budget suggestions, Menezes said aim of the budget should primarily be to generate more employment.
“Employment can be generated through investment in infrastructure projects such as construction, roads, bridges, power, ports and hospitality. In many of these industries, Goa needs substantive investment," he added.
We are hoping that selective tax concessions are given specifically designed for the export sector. Goa has a large pharma sector and many of the units are export-driven, the GCCI chief said.
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