Goa Budget: Rs 169 cr boost for IT industry, start-ups to get financial aid

Porvorim: While Chief Minister Manohar Parrikar appeared to have addressed all the demands of the industry lobbies, the state budget was quite spartan in its mention of Goa’s industrial and manufacturing sector. Though Parrikar gave his commitment to improve Goa’s performance on the ease of doing business ranking, the budget was mum on the role that Goa Investment Promotion Board would play in bringing reforms to the currently tedious regulatory process.

Interestingly, Parrikar announced several measures for the information and technology sector, allocating Rs 169.06 crore for the IT sector, including Rs 15 crore for startups. The government will also set up a startup promotion board in the coming financial year with the aim of creating 4,000 jobs per year.

“There is no evidence that more regulations make things better. With minimizing regulations my government will emphasize on ease of doing business initiative in Goa and implement the business reform action plan in the state to be among top 10 Indian states through an e-governance platform, integrating and synergizing all government departments and entities,” Parrikar said.

Parrikar also vouched to focus on implementation of the Goa IT Investment Policy 2015. He said that the Chimbel IT park would be completed in the next two years after taking all the stakeholders into confidence.

He also allocated Rs 50 lakh to encourage incubation centres and entrepreneur development centres in Goa.

Source: Times of India