Tax holidays for investors, tourism in hinterland – what does the Goa budget promise?

Sawant said the total budget size is Rs 28, 163 crore, of which revenue expenditure is Rs 20, 299 crore and capital expenditure is Rs 7,863 crore. The revenue surplus is Rs 2,403 crore and fiscal deficit is estimated at Rs 2,826 crore.

The Economic Survey 2024-2025, which was tabled in the Goa Legislative Assembly, stated that the Goan economy is in a “favourable position” to witness growth of 13.87 percent during 2024-25 “mainly due to anticipated resumption of mining and quarrying activities after successfully auctioning of mining leases in the state and various infrastructure projects undertaken by the government”.

Sawant said that industries and organisations willing to invest more than Rs 5,000 crore in Goa will be offered various incentives — including full SGST reimbursement for five years — a 50 percent waiver on stamp duty and registration fees, and subsidies on the supply of amenities for five years, along with other similar benefits.

To promote tourism infrastructure in hotel and medical tourism sectors, the chief minister proposed a tax holiday in the form of a 50 percent rebate on state GST, exemption from stamp duty and registration fees, and a waiver on other processing charges for investors setting up at least three-star category hotels or hospitals in hinterland talukas of Bicholim, Sanguem, Canacona, Quepem, Dharbandora, Ponda, and Sattari.

Sawant said for all tourism-related projects, the government will provide infrastructure support through a single-window mechanism. Among the proposed tourism infrastructure projects to be taken up include aero tourism, skydiving and drone tourism at Quitol in Quepem; an underwater tunnel, oceanarium, caravan parks, and other marine tourism attractions; and Chhatrapati Shivaji Maharaj digital museum at Ponda.

The chief minister said a new port terminal at Panaji jetty will be ready by August 2025, and dredging of Goa’s rivers will commence across the state. The government has commissioned a pre-feasibility report for a proposed water-metro transport system, he said.

The state will complete the process to form a third district in the state and a ‘Goa Happiness Index’ will be formulated with expert inputs, Sawant added.

He said a special wing will be set up in the archives department to preserve handwritten scripts and digitise them.

“Goa state mission for manuscripts will also be established to use advanced technology to preserve ancient and historical manuscripts. I also propose to take up a structural audit of all heritage buildings in the state and thereafter restoration of all the heritage buildings as per need and assessment will be initiated. To improve the visual appeal of government buildings, I propose to paint all the government buildings in respective locations with a uniform colour code,” Sawant said.

Other major announcements included a comprehensive housing policy for providing affordable housing for Goans through the Goa Housing Board; regularisation of unauthorised constructions up to 1000 square metres in urban areas and 600 square metres in rural areas and single window clearance for live events with more than 2,500 people.