Goa Govt to provide Rs 10 cr industrial subsidy in coming fiscal

Panaji, Mar 17 (UNI) The Goa government is likely to earmark Rs 10 crore as industrial investment subsidy for the new fiscal.

Disclosing this while distributing Rs 1.87 crore to 52 industrial units that employed 571 local youth, Industries Minister Luizinho Faleiro urged the enterpreneurs to reserve 80 per cent of the jobs for locals, if they wanted to secure the subsidy.

He said the subsidy would be given to the extent of 25 per cent of the capital invested on land, buildings, plant and machinery with a maximum limit of Rs 10 lakh per unit.

The government, he said, was keen to jack up job potential besides making Goa an industrial hub, and the industries should supplement these efforts in a big way.

In this connection, he appealed to the Goa Chamber of Commerce and Industry, Small Scale Industries and the state department of industries to work out strategies for developing skilled manpower to meet the industries requirement.

The government since the inception of the investment subsidy scheme in 1990, had disbursed Rs 5,237 lakh to 2,313 industrial units in Goa. The government has set June 30 as a cut-off date for claiming subsidy, the Minister added.

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