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Goa-centric firms to get boost

Goa-centric firms to get boost

13 Mar 2018 No comment 9 hits

Panaji: After much promise, the government couldn’t take a big leap in the IT sector. However, while the Goa IT Investment Policy has not taken off, there has been some development on the industrial front.
With unemployment figures for the state hovering between 7.5% and 8.8%, the government is trying to incentivise companies that hire Goans and has proposed to subsidise salaries paid to Goan employees, offering to reimburse up to Rs 7,000 per Goan employed by these firms. Only new companies, or those that began after 2007, but did not avail of benefits, can apply for the scheme, provided 80% of their staff is Goan.

In December 2017, chief minister Manohar Parrikar, who also holds the industry portfolio, gave his approval for the incentive, along with six other schemes, which will be offered under the Goa State Incentives to Encourage Investments Scheme 2017.

The state will monitor the scheme by cross-checking the employee rolls submitted by each company with the Employees’ State Insurance department and Employees’ Provident Fund Organisation.

The scheme also offers benefits to those companies whose employee rolls comprise 60-80% Goans. “The incentives will be calculated on pro-rata basis, but less than 60% (local employment) and they get nothing,” a source said, adding that this is in keeping with the government’s slogan ‘Goem, Goemkar and Goemkarponn’.

The state has already announced the startup policy.

Under the chairmanship of Glenn Ticlo, the Goa Industrial Development Corporation (GIDC) has introduced the new Transfer and Sublease Regulations 2018, which makes it easier for entrepreneurs to sublease unutilised parts of industry plots.

To create a hassle-free interface for entrepreneurs, the corporation also plans to create an online interface that will enable entrepreneurs to apply for plots, transfer plots, etc.

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