You are here: Home » Economy & Policy » News
India Inc on recovery path; 53% firms to raise headcount in 2021: Report
Bright days ahead for India, emerging market equities in 2021 and beyond
Business Standard

Goa suffering badly due to halt in mining, drop in tourism: State minister

Mining, the backbone of Goa's economy, has come to a standstill

Goa | Mining Ban | Goa Tourism

Press Trust of India  |  New Delhi 

capital goods, company, construction, industry, manufacturing, production, mining, jcb
Representational image

With mining, the backbone of Goa's economy, coming to a standstill and tourism also taking a hit due to the pandemic, the state is suffering badly and is borrowing up to Rs 400 crore every month, state Power Minister Nilesh Cabral has said.

"Today the state is borrowing Rs 300-Rs 400 crore every month to sustain," the minister said during a webinar.

Stating that mining, which is the backbone of its economy, has come to a standstill, the minister said the tourism sector has also suffered on account of the COVID-19 crisis.

"...our share of GST takes time to come. It should be every month because the state is suffering badly. The Centre does not give us loan. They give us borrowing limits. We are using all the borrowing limits," he stressed.

The state's socio-economic situation is "hard pressed" on account of the halt of mining operations, Cabral said, adding mining leases have been renewed across the country except in .

The Centre had in November said it is keen on finding a solution to the mining issue as it is the core economic activity of the state.

Mining operations in came to a grinding halt in March 2018 after the Supreme Court quashed 88 mining leases.

Union Mines Minister Pralhad Joshi had said mining is crucial for Goa but at the same time, there is a judicial order.

The Centre is looking at the issue and is positive about finding a solution, he had added.

Mining dependents in Goa had earlier made an appeal to Prime Minister Narendra Modi for his intervention to protect the livelihood of lakhs of people in the state.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Thu, January 21 2021. 19:56 IST