PANAJI: Chief Minister Dr. Pramod Sawant today presented a revenue surplus Budget of Rs. 26,844.40 crore for the FY 2023-24 which is a rise of 9.71% over the estimates for 2022-23. A surplus of 669.4 crore is estimated for FY 2024.
Our first reaction to the Budget is that the Govt., is not really serious to improve the manufacturing sector in the State.
As per the Economic Survey presented by the Govt., yesterday, it clearly shows that the manufacturing industry is contributing 72.4% of the State’s income in Secondary Sector. Also, it is highly alarming to note from the same survey that sectoral growth rate of manufacturing sector to GSDP is going negative year after year thereby decreasing job creation in the State.
Lot of big announcements have been made but we find there is nothing much for the manufacturing industry. We expected that the Chief Minister would make a higher allocation for the infrastructure in the industrial estates. Last year 10 crores were allocated but only 5 crores were released. This year an allocation of Rs. 10 crores has been made to raise coverage under Credit Guarantee Fund trust for MSEs up to 95%.
The infrastructure in our industrial estates is in very bad shape. There are no proper roads, power transformers are in a dilapidated conditions, street lights are not functioning, road side bushes are not cut etc. No new industry would like to come to Goa looking at the infrastructure in our industrial estates.
Making announcements only does not solve the problems, implementation is most important.
The concerned department should utilize the allocation made. In Goa-IDC, MD is changed frequently and there is no continuity in decision making. We had also suggested that a professional person should be put as the Chairman of Goa-IDC. It appears that the manufacturing sector is the least priority for the Government.