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Wednesday, May 18, 2022

BUDGET: CM proposes Goa State Mining Corporation


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Porvorim: Chief Minister Pramod Sawant on Wednesday announced proposed formation of “Goa State Mining Corporation” to ensure resumption of the Iron Ore mining industry in the State.

Presenting the Budget for the Fiscal 2021-22, the Chief Minister, who also holds Finance Portfolio, said that the State government has been working at the centre and also in the Court to resume the mining industry.

“In order to ensure smooth resumption of this industry, I hereby propose formation of Goa State Mining Corporation,” he said.

Sawant also said that his government  will sign an MOU with Mineral Exploration Corporation Ltd (MECL) for carrying out mapping of the mineral resources in the state of Goa and identify potential mining sites.

The mining industry in Goa has come to standstill since last three years after Supreme Court quashed 88 mining leases.

In yet another proposal, the CM had proposed to bring amendment to Goa Minor Mineral Concession rules, 1985  to promote ease of doing business and to ensure a seamless process for grant of quarrying leases for minor minerals.


He said that his  Government also shall expedite the grant permits for traditional sand mining once the Bathymetric study by National Institute of Oceanography for Goan Rivers is complete and reports are submitted.

“Government has formulated a scheme in consultation with Central Empowered Committee (CEC) and is now pursuing with the Hon’ble Supreme court of India for utilizatization of the permissible part of Goa iron ore permanent fund towards welfare of the mining affected areas in the state,” he said.

Presenting the Budget figures, Sawant said that due to the prevalence of the COVID 19 pandemic, the Gross State Domestic Product (GSDP) estimates for the year 2021-22 is estimated at Rs 89,421.61 crore with a growth rate of 9.72  percent as compared to the year 2020-21 and a per Capita Income of Rs 5.70 lakh, which is highest in the country.

“The  net expenditure for the year 2021-22 has been estimated at Rs. 21, 646.68 crores showing an increase of 12.8 per cent over last year. Similarly the revenue receipts are estimated to increase at 16.39 per cent over last year, due to greater central assistance in this fiscal year,” he said.


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