‘Umbrella scheme’ to start from Oct 1, gets cabinet nod

PANAJI: The cabinet on Wednesday approved the Goa State Incentives to Encourage Investments Scheme, 2017. Termed as an 'umbrella scheme', it aims to provide financial assistance and incentives to entrepreneurs in the state.

Addressing a press conference after the cabinet meeting, chief minister Manohar Parrikar, who also holds the industries portfolio, said separate target schemes for specific incentives will be notified under the scheme, which will come into effect from October 1.

Parrikar said eligible industrial units will get 50% subsidy of the cumulative capital investment, but units located in seven lesser developed talukas will get 70% subsidy.

The talukas of Pernem, Sattari, Bicholim, Sanguem, Quepem, Canacona and Dharbandora have been earmarked as lesser developed talukas under the scheme.

The scheme offers maximum additional 10% benefit to all women and those belong to SC and ST communities. The projects of hinterland eco-tourism in lesser developed talukas will be eligible for benefits under the target schemes of 'interest subsidy scheme' and 'employment subsidy scheme' but subject to conditions listed under the scheme.

The new scheme also has a provision to constitute a task force committee to scrutinize applications and recommendations of the benefits under target schemes.

All sanctions and disbursements under this scheme would be reported to the government every six months.