GCCI BULLETIN FEBRUARY 2022
24TH MARCH 2022
Dear Members,
The unveiling of the Union Budget is an annual ritual at GCCI. The Managing Committee members, GCCI Committee Chairpersons, and also Heads of major industry bodies witness this live relay together at the Chamber.
I must commend the Union Budget 2022 presented by the Hon’ble Finance Minister, Smt Nirmala Sitharaman. It is growth-oriented with an impetus on capital expenditure to fuel economic growth and employment generation. The FM must also be commended for maintaining the fiscal deficit at 6.9% of GDP in FY22. The hospitality sector is yet to regain its pre-pandemic level of business and the extension of the ECLGS scheme is a welcome move. The formal announcement of the Finance Minister on the launch of India’s CBDC, the Digital Rupee, during 2022-23 is a much awaited and positive move. The SEZ Act to be replaced with the new legislation is also a much-needed announcement. Startups and manufacturing units have been given a boost with an extension of tax benefits for another year. The new form for voluntary disclosure and payment of taxes exhibits the trust the Government proposes to the taxpayers. We look forward to the E-passports, 5G Rollout in FY2022-23. PLI extension to 14 sectors for Atmanirbhar Bharat will create 6 million jobs & increased fund allocation shall boost the MSME.
To de-construct the Budget, the Chamber in association with the WIRC of ICAI Goa organized ‘Budget Talk- Decoding the Union Budget’ on Zoom Platform.
A lot of trade happens between Goa & Belgaum. When Belgaum Chamber of Commerce & Industries (BCCI) proposed a meet-up, GCCI was happy to host the Managing Committee members of BCCI led by President Mr. Rohan Juvali at the Chamber. We had a very detailed discussion on various trade and industrial sectors such as logistics, agricultural & food processing, hydraulics, electronics parts, industrial paints, automobile parts, etc. There was also a discussion on the disruption of the highway connectivity route between Goa-Belgaum via Anmod. To address this issue both the Chambers decided to make a joint representation to the Hon’ble Union Minister Shri Nitin Gadkari regarding the fast resolution of the issue for the benefit of trade and ease of doing business.
Immediately thereafter, GCCI presented the joint representation to Hon’ble Union Minister Mr. Nitin Gadkari signed by Goa Chamber of Commerce & Industry (GCCI) and Belgaum Chamber of Commerce & Industries (BCCI). This primarily highlighted how the poor & ummotorable road conditions between Goa & Karnataka through AnmodGhat (Mollem-Ramnagar-Belgaum) adversely impact the retail trade by significantly increasing logistic costs.
The Chamber proposed widening of this road as a four-lane instead of the six-lane proposed highway through the AnmodGhat (NH4A) passing through Ramnagar, and make the life of the common people of the two regions as well as that of the industry viable and content.
Along with my Hon Secretary, Mr. Yatin Kakodkar, we called on Mr. Puneet Kumar Goel, IAS, to congratulate and welcome Mr. Goel as the Chief Secretary of the State of Goa.GCCI has offered support in terms of policy framing, providing solutions, and acting as a bridge between the various industries and the government. Mr. Goel has welcomed the Chamber’s suggestions and initiatives and assured that a dialogue will be initiated between Govt and the Industrial body to boost the economy of Goa.
I also met Mr. H P Vivek IAS – the Director of Mines & Geology. We discussed the re-start of mining activities in Goa and avenues to increase economic growth in Goa by promoting hospitality as well as Goa as an education hub. Mr. Vivek also informed us that the process of setting up an International Law Centre in Goa has started.
GCCI organized the 3rd Committee Conclave on 25th Feb 2022 .15 Committees presented a review of their activities to the Managing Committee and discussed the way ahead.
Warm regards,
Ralph de Sousa
ABOUT GGCI
Goa Chamber of Commerce & Industry (GCCI) is Goa’s premier non-profit business, support-services and networking organization. We represent and liaise with SME’s, Corporate Organisations and Government bodies.
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GOA CHAMBER OF COMMERCE & INDUSTRY
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