Goa lost 25% revenue post mining ban: CM
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Goa lost 25% revenue post mining ban: CM

By Business-standard calender  30-Jun-2019

Goa lost 25% revenue post mining ban: CM

The Goa government has suffered a revenue loss of almost 25 per cent due to the mining industry shutdown in the wake of the supreme court order in 2018, Chief Minister Pramod Sawant said Saturday.
He said the ban has adversely affected the economy of the coastal state in the last 15 months.
"Just as when Goa was regaining hold over the economy after the global slowdown, the ban on the mining industry posed another challenge for the government," Sawant said while addressing the 111th annual general body meeting (AGM) of the Goa Chamber of Commerce and Industry near here.
In its February 2018 verdict, the supreme court had quashed renewal of 88 mining leases, which effectively brought the mining industry to a halt.
"The mining sector was contributing immensely to the state exchequer and also to the employment. The state exchequer was deprived of almost 25 per cent of the revenue due to the ban," the CM said.
Tourism and mining sectors are mainstays of the Goan economy.
Sawant said despite slump in the income, the government soldiered on and kept the wheels of development rolling.
"The government ensured that the expenditure committed for social welfare schemes and other projects flowed smoothly. In addition to this, the government had intervened to avoid any human tragedy as a result of desperation amongst the dependents of the mining industry," he added.
Sawant further said the government has invested around Rs 300 crore in various schemes aimed to compensate the mining dependents.
He said the government also serviced the loan liabilities it had inherited.


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