SME Times News Bureau | 23 Jan, 2020
The 15th Finance Commission headed by Chairman N.K. Singh
along with its Members and senior officials met today with the representatives
of the Trade and Industry bodies in Goa.
The Commission was informed that growth rate of GSDP (at
current prices, 2011) of State has fluctuated widely during 2012-13 to 2018-19
compared to GDP (at current prices, 2011) of India.
The share of primary, secondary and tertiary sector
in GSVA (current prices, 2011) of the State was 9.6%, 46.3%, & 34.3%,
respectively, in 2018-19.
The State ranks 19th position in India
as far as ‘Ease of Doing Business’ is concerned (2019).
During the last three years the year–on-year
tourists’ arrival is growing at the pace of about 20%. In 2017, there were
68,95,234 domestic tourists and 8,90,459 foreign tourists which is more than
four times the population of the State.
The Commission observed that the State Government
needs to take steps to facilitate structural transformation of the economy by
increasing its activity in service sector. As in 2018-19, the secondary
sector contributed 46% to GSVA (current prices) of the State, making it largest
among the 3 sectors of the economy (primary, secondary & tertiary).
The Commission also noted that share of tertiary
sector in GSVA (current prices, 2011) of the State has declined from 41% in
2013-14 to 34% in 2018-19. On the other hand, the share of primary sector
remained constant at around 9-10% during the same period.
The Commission sought information on the areas for
private sector participation towards further encouraging tourism sector in
specific areas such as infrastructure development, tourist safety, beach safety
and surveillance system, hospitality management etc.
representatives of the following organizations were present at the
meeting – CREDAI-Goa, Economic Development Corporation Ltd., Goa
Industrial Development Corporation, Goa Chamber of Commerce & Industry,
Chartered Accountant Association of Goa, Confederation of India Industry (CII),
Casino – Hotel “Neo Majestic”, Goa Barge Owners Association and Goa Mineral Ore