Friday 20 September 2019

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Economy | Industry

Local bottlers urge Coke's ouster

 

Over 160 large industrial firms are eagerly waiting for the BJP-led government to extend the tax holiday scheme for Goa at least by one more year, to avail the facility which expired last month.

The state government's announcement that the centre has already extended the period by one more year has proved to be the hoax. The announcement was made by industries minister Luizinho Faleiro, along with both the Congress MPs, misquoting union finance minister Yeshwant Sinha.

Though several industries rushed into symbolic production by March 31 to avail the tax holiday facilities, the industry department figures show 163 large and medium scale industries and around 9000 provisionally registered small scale units still in the pipeline.

The BJP, who exposed the hoax behind the false announcement, is now planning to make a Delhi trip next week to pursue the matter as the bill to this effect has already been prepared by the erstwhile UF government.

Altogether 962 industries have availed the facility of five year tax holiday since 93-94, with an investment of Rs 929.20 crore. It includes 904 small scale units by investing Rs 81.77 crore and 58 large and medium scale units, with an investment of Rs 847.43 crore. Goa had otherwise only 55 large or medium scale industries till the facility was granted.

It also includes over 25 multinationals, mainly in the field of pharmaceuticals, electronics and industrial accessories, including seven NRIs and countries like Germany, USA, UK, Portugal, Australia, Luxembourg, Korea, Switzerland, Canada, Netherlands, Hong Kong and Taiwan.

Those who started symbolic production as a last-minute resort, are still waiting for power situation to improve further. While Goa can wheel only 190 MW from the national grid, its sanctioned requirement has reached 445 MW.

Sangay Shenga, the industries director, admits that they cannot overcome the problem with one 50 MW private power project coming up in the state. On the other hand, private power producers are demanding state guarantee to respond to its new open sky policy on power generation.

Though all the projects in pipeline may not be able to start production this year, few industries like a Rs 520 crore worth Italian project of automobile parts of Taksid Kalyani and Hindustan Coca Cola's project of around 30 crore may benefit, if the tax holiday is extended by at least another year.






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