Budget focuses on growth, jobs and people's aspirations, will greatly benefit Goa: CM Sawant

Panaji, Feb 2 (PTI) Goa Chief Minister Pramod Sawant on Monday hailed the Union Budget stating it places growth, jobs and people's aspirations at the centre while maintaining fiscal discipline.

It would significantly benefit Goa, which will receive Rs 5,570.83 crore as its devolved tax share, he said addressing a press conference.

"The Budget strengthens India's journey towards 'Viksit Bharat' through enhanced public investment, faster reforms and new opportunities in tourism, services, MSMEs and the blue economy," he said.

The proposed upgradation of National Council for Hotel Management and Catering Technology into National Institute of Hospitality would help improve quality standards and create industry-ready talent, along with the plan to upskill 10,000 tourist guides across 20 iconic sites through a standardised 12-week hybrid training programme in collaboration with Indian Institute of Management (IIM), he said.

"Goa is India's tourism brand. With guide upskilling and the digital destination grid, we can create better jobs for Goan youth and better experiences for tourists. The proposed National Destination Digital Knowledge Grid to digitally document places of cultural, spiritual and heritage significance would open up opportunities for local researchers, content creators and technology partners," the CM said.

Speaking about the blue economy, Sawant said the Budget's focus on strengthening the fisheries value chain in coastal areas, along with integrated development of reservoirs and promotion of Fish Farmer Producer Organisations, would directly support livelihoods.

For a coastal state like Goa, fisheries value-chain strengthening and coastal cargo promotion directly supports livelihoods, logistics efficiency and coastal enterprise, he said.

The Coastal Cargo Promotion Scheme, which aims to increase the share of freight moved through waterways and coastal shipping from 6 per cent to 12 per cent by 2047, would benefit port-linked economies like Goa, Sawant added.

The CM also welcomed incentives for indigenous manufacturing of seaplanes and the proposed Viability Gap Funding (VGF) scheme to support operations, adding Goa can leverage seaplane connectivity to enhance high-value tourism circuits and improve access to select coastal destinations.

Referring to agriculture, the chief minister said the Budget directly mentions high-value coastal crops such as coconut, cashew and cocoa. He noted the Coconut Promotion Scheme and the dedicated programme for Indian cashew and cocoa aimed at enhancing production, processing and exports.

"This Budget speaks directly to Goa's strengths - coconut and cashew. The dedicated programmes can strengthen farm incomes and value-addition in our coastal belt," he said.

Sawant also highlighted the increase in public capital expenditure to Rs 12.2 lakh crore in 2026-27 and the proposed Infrastructure Risk Guarantee Fund to support private participation in infrastructure projects.

"Higher national capex and the Infra Risk Guarantee Fund improve the ecosystem for quality infrastructure - roads, urban services and logistics supporting Goa's growth and jobs. The Rs 10,000 crore SME Growth Fund, the Rs 2,000 crore top-up to Self-Reliant India Fund and measures to deepen Trade Receivables electronic Discounting System (TReDS) will improve credit flow to small businesses," he said.

Goa's economy runs on MSMEs, tourism, services, processing and local manufacturing, and this package improves credit flow and growth capital for them, he said.

The chief minister also welcomed the Centre's decision to retain the vertical devolution share to states at 41 per cent as recommended by the 16th Finance Commission, and the provision of Rs 1.4 lakh crore as Finance Commission grants to states in 2026-27.

"The Budget provides a balanced roadmap for growth while ensuring fiscal prudence and strengthening cooperative federalism," the chief minister asserted. PTI RPS BNM