Goa IT policy lays emphasis on local employment

In a significant development towards securing employment for local youth, the Goa government is offering an incentive to entrepreneurs employing Goans in the information technology (IT) industry and its enabled service at the rate of Rs 15,000 per employee per annum.

"Employment incentive is among the several incentives being offered by the state under its IT policy approved at the last cabinet meeting held two days ago. It will be for a period of two years," an official source in the secretariat said.

The maximum amount as employment incentive will be Rs 75 lakh per year to one unit. The policy has made it clear that an additional incentive of 5 per cent will be offered for commissioning of operations before December 2006.

Sources further stated that rebate in power and water tariffs have also been offered. "This includes a subsidy of 25 per cent on power consumption for a period of two years from the date of starting operation and a normal rate would remain for the next three years. There will also be a 25 per cent capital subsidy on captive power plant subject to a maximum of Rs 10 lakh," an official said.

The subsidy on water consumption will be 25 per cent for a period of five years from the date of starting of operation.

All registered IT units that purchase or lease land and or building in the notified IT park or industrial estate operated by the Goa Industrial Development Corporation (GIDC) will be reimbursed the entire amount paid by it towards stamp duty. The reimbursement will be given only after the company starts its operations.