Goa Budget: SGST Reimbursement for Industries, Tourism Incentives
Goa's budget offers SGST reimbursement for industries investing over Rs 5,000 crore, tax incentives for tourism entrepreneurs, and a dedicated job portal. Learn more about the economic projections and key initiatives.
Photograph: Jason Lee/Reuters
Panaji, Mar 26 (PTI) Goa Chief Minister Pramod Sawant on Wednesday presented a revenue surplus Budget providing tax incentives for tourism entrepreneurs setting up starred hotels in rural areas and full SGST reimbursement for the first 5 years for industries investing more than Rs 5,000 crore.
The budget projected GSDP at current prices for 2025-26 at Rs 1,38,624.86 crore with a growth rate of 14.27 per cent. It projected Goa's per capita income of Rs 9.69 lakh, portraying a robust and healthy economy.
Sawant, who holds the finance portfolio, said industries/organisations investing more than Rs 5,000 crore in Goa will get various incentives such as full SGST reimbursement for five years.
He also announced a 50 per cent waiver in stamp duty and registration charges and subsidies on the supply of various amenities for five years besides other benefits.
With a special focus on the tourism sector, the chief minister said the state government will provide infrastructure support such as electricity, water and sewerage connections through a single-window mechanism.
"In order to promote the tourism infrastructure in the hotel and medical tourism sector, I propose to provide a tax holiday in the form of 50 per cent rebate on the state GST, exemption in stamp duty and registration.
"The government will also grant waiver in other processing charges to investors who set up at least a three-star or above category hotel or hospital in hinterland talukas of Bicholim, Sanguem, Canacona, Quepem, Dharbandora, Ponda and Sattari," he added.
The chief minister stated that the tourist footfall increased by 14 per cent after Dabolim Airport and Manohar International Airport became operational.
He said the Manohar International Airport in north Goa facilitated agri-produce export, especially of baby corn, mangoes, flowers, and green chillies, which reached 3,325 tonnes.
"I am pleased to inform this House that the Goa Government earned Rs 31.51 crore revenue share from Mopa airport in just three months from December to February," he said.
The chief minister has also proposed to launch a dedicated job portal which will enable all companies in Goa to post vacancies and also allow Goan candidates to receive exclusive access to all the openings for the first seven days, ensuring the local talent gets the first opportunity.
The budget projected GSDP at current prices for 2025-26 at Rs 1,38,624.86 crore with a growth rate of 14.27 per cent. It projected Goa's per capita income of Rs 9.69 lakh, portraying a robust and healthy economy.
Sawant, who holds the finance portfolio, said industries/organisations investing more than Rs 5,000 crore in Goa will get various incentives such as full SGST reimbursement for five years.
He also announced a 50 per cent waiver in stamp duty and registration charges and subsidies on the supply of various amenities for five years besides other benefits.
With a special focus on the tourism sector, the chief minister said the state government will provide infrastructure support such as electricity, water and sewerage connections through a single-window mechanism.
"In order to promote the tourism infrastructure in the hotel and medical tourism sector, I propose to provide a tax holiday in the form of 50 per cent rebate on the state GST, exemption in stamp duty and registration.
"The government will also grant waiver in other processing charges to investors who set up at least a three-star or above category hotel or hospital in hinterland talukas of Bicholim, Sanguem, Canacona, Quepem, Dharbandora, Ponda and Sattari," he added.
The chief minister stated that the tourist footfall increased by 14 per cent after Dabolim Airport and Manohar International Airport became operational.
He said the Manohar International Airport in north Goa facilitated agri-produce export, especially of baby corn, mangoes, flowers, and green chillies, which reached 3,325 tonnes.
"I am pleased to inform this House that the Goa Government earned Rs 31.51 crore revenue share from Mopa airport in just three months from December to February," he said.
The chief minister has also proposed to launch a dedicated job portal which will enable all companies in Goa to post vacancies and also allow Goan candidates to receive exclusive access to all the openings for the first seven days, ensuring the local talent gets the first opportunity.
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