Manufacturing sector accorded least priority in Goa budget: GSIA

Panaji, Mar 31 (KNN) The Goa State Industries Association (GSIA) has expressed concerns over the lack of focus on the manufacturing sector in the state budget which was announced on March 30, 2023.

GSIA president Damodar Kochkar said that the token allocation for the sector, which contributes half the share in the state’s economic output, suggests that the manufacturing sector has been accorded the least priority.

“Lot of big announcements have been made, but we find there is nothing much for the manufacturing industry. We expected a higher allocation for infrastructure in the industrial estates,” he said.

Kochkar pointed out that the infrastructure in the industrial estates is in very bad shape. There are no proper roads, power transformers are in dilapidated conditions, and street lights are not functioning.

“No new industry would like to come to Goa looking at the infrastructure in our industrial estates,” her added.

He said that mere budget announcements will not solve the industry’s problems, and implementation is critical. GSIA has also demanded that a professional be appointed as the managing director of GIDC, reported TOI.

This year an allocation of Rs 10 crore has been made to raise coverage under Credit Guarantee Fund trust for MSMEs up to 95 per cent.  (KNN Bureau)