Goa State’s Budget, 2016: What does the industry expect? - Akar Realty

Goa State’s Budget, 2016: What does the industry expect?



Goa’s state budget is about to be rolled out on 16th March 2016. The forth coming budget is going to be interesting and it would be a litmus test for Goa’s newly appointed Chief Minister, LaxmikantParsekar. The Budget will tell as to how theGoan State Governmentwill focus on and transform the state’s industrial sector that includes all sorts of industries like, hospitality, tourism, manufacturing and real estate Sector. You might as well know the provisions made in last year’s budget and you would also like to know as to what this year’s budget can do for the real estate industry in the state.
By and large, the state’s budget is expected to facilitate Goa Properties and the overall real estate including residencies, townships, villas and apartments in Goa.

The three major trade associations in Goa, namely GCCI, CII and GSIA have come together and submitted a proposal to the state government, wherein they have submitted the following list of pointers in order to bring the state of local infrastructure to the notice of the government:

As such, the Budget wish list of the state’s real estate industry is modest from the Government and all the above mentioned points are going to play a vital role in the state’s real estate development.
While the government of Goa has also formulated certain policies to operate the industry in the state, as per the last year’s budget, some of the features of the Industrial Policy of Goa, announced by the State’s Government during the financial year 2015-16 are as given below:

Besides, Goa has got a vast waterway network, along the sea coast. Due to this, the waterway import and export of products also forms a major industry in the state. Trade and Commerce via sea ways, is amongst the salient business features of the state.

While the Goan real estate has also attracted foreign investors along with the native Indian investors, the current year’s budget is going to have a profound impact on the state’s real estate sector.

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