Goa's New Exit Support Scheme: A Boost for Industrial Plots

Goa Industrial Development Corporation (GIDC) launched an exit support scheme for units allotted land before August 1, 2014. The scheme aims to repurpose non-functional plots, thus facilitating new investments and improving employment prospects. Additionally, it will enhance state revenue through registration and taxes, benefiting both the government and GIDC.

Goa Industrial Development Corporation (GIDC) has rolled out an 'exit support scheme' targeting industrial units that were allotted land before August 1, 2014, according to State Industries Minister Mauvin Godinho.

Responding to questions by Congress MLAs Yuri Alemao, Carlos Ferreira, Altone D'Costa, and AAP MLA Cruz Silva in the assembly, Godinho emphasized that the scheme is part of the 'ease of exit,' a critical aspect of the 'ease of doing business' initiative.

'The scheme aims to repurpose non-operational plots into new investment hubs, thereby creating employment opportunities. Additionally, it will boost state revenue through registration and taxes and provide GIDC with stable rental income,' the minister stated.

An internal analysis conducted by GIDC, involving data from 24 industrial estates, led to the finalization of the scheme. The data was gathered through field inspections and included information on ownership, plot number, area, and utilization status.