Goa CM to table budget on March 16

The Goa Chamber of Commerce and Industry demanded that excessive duties and levies on the mining industry be cut down

Goa Chief Minister Laxmikant Parsekar will table the state budget on March 16 in the upcoming Legislative Assembly session.

"The Business Advisory Committee (BAC) met on Monday under the chairmanship of Parsekar and has decided to table the budget on March 16," Nilkant Subhedar, Secretary state legislature saidI.

The budget session will be held on March 14-18.

Parsekar, who also holds the finance portfolio, will have to do a tightrope walk as he has to go for revenue generation with an eye on Assembly polls next year.

The mining industry, which has been reeling under a crisis, has demanded easing of the tax burden.

The Union Budget has already set the tone for speedy resumption of the industry by abolishing export duty on the low-grade iron ore.

The Goa Chamber of Commerce and Industry (GCCI), in its pre-Budget memorandum submitted to the government, has demanded that excessive duties and levies on the mining industry be cut down.

GCCI has contended that given the high rate of central and state taxes, duties, charges, cess and others and a low market rate for the ore, it is not possible for the industry to begin operations profitably.

"The state government is requested to withdraw the state levies which are intended towards revenue augmentation, failing which the survival of the industry is at risk," the memorandum said.