Panaji: The Goa government needs to intensify its efforts to capitalize on the Union Budget's allocations for critical sectors such as manufacturing, tourism, agriculture, and healthcare, according to Goa Inc, which voiced its concerns on Sunday. While private sector leaders in the state have expressed appreciation for Finance Minister Nirmala Sitharaman's fiscal roadmap, they have also issued a warning that Goa might miss out on significant opportunities if the state government does not engage in closer collaboration with the Centre.
Key Budget Announcements and Goa's Potential
In her ninth budget presentation, Sitharaman unveiled several initiatives that hold promise for Goa. These include a substantial Rs 10,000 crore fund dedicated to promoting Micro, Small, and Medium Enterprises (MSMEs), plans for the revival of 200 legacy industrial clusters, the establishment of five medical tourism hubs, schemes aimed at boosting coconut cultivation, and a comprehensive roadmap for developing inland waterways, coastal shipping, and logistics infrastructure.
Industry Leaders Voice Expectations
Yatin Kakodkar, Vice-President of the Goa Chamber of Commerce and Industry (GCCI), emphasized the importance of state-level action. "We are confident that the Goa government will also work closely with the Union government to promote medical tourism in our state. It's a very good announcement, but the Goa government should capitalize on it," he stated, highlighting the need for proactive measures.
The Goa State Industries Association (GSIA) pointed out that specific measures such as the Rs 10,000 crore SME growth fund, enhanced liquidity through TReDS, and support for industrial clusters could significantly aid in scaling up MSMEs and easing compliance burdens. "The emphasis on infrastructure, plug-and-play industrial parks, and logistics efficiency is particularly relevant for Goa's manufacturing sector," noted GSIA President Pradip D Costa. He added that the association looks forward to effective implementation and strong state-level facilitation to ensure these benefits reach micro and small manufacturers.
Concerns Over Past Performance
Privately, representatives from Goa's private sector have been more candid, expressing concerns that the state government has been slow in harnessing previous budgetary allocations for industries, agriculture, and fisheries. An industry spokesperson remarked, "We pushed for Goa as a multi-modal logistics hub, and this budget focused on logistics. It is now for the state to grab this opportunity," underscoring the urgency for timely action.
Role of Private Enterprises and Tourism Sector
Sangam Kurade, Vice-President of GCCI, reminded that the responsibility of utilizing these schemes also lies with Goa's private enterprises. Meanwhile, the tourism sector has shown some positive engagement. Jack Sukhija, President of the Travel and Tourism Association of Goa, observed, "In that sense, the tourism department was active in ensuring that funds allocated in the Union Budget are utilized for the development of the tourism sector. We also saw these in the Swadesh Darshan coastal circuit and several other initiatives," indicating a model that other sectors could emulate.
Overall, the consensus among Goa's business community is clear: while the Union Budget 2026 offers promising avenues for growth, the onus is on the state government to work diligently and collaboratively to translate these allocations into tangible benefits for Goa's economy.
