Goa CM welcomes continuation of special assistance for capital investment

Panaji, Feb 4 (PTI) – Goa Chief Minister Pramod Sawant announced on Tuesday that Union Finance Minister Nirmala Sitharaman has accepted the state's request to extend the special assistance scheme for capital investment into the financial year 2025-26. The scheme, which provides 50-year interest-free loans to states, will continue with an outlay of ₹1.5 lakh crore.

Addressing a press conference, Sawant analyzed the key takeaways for Goa from the Union Budget 2024-25, presented on February 1.

“In the current financial year, Goa has already availed ₹1,185.17 crore under this special assistance scheme till January,” he stated.

Key Budget Allocations for Goa​

The chief minister highlighted several budgetary benefits for the coastal state:

• Railway Infrastructure: Goa has been allocated ₹482 crore for Konkan Railway and South Western Railway projects, covering station development, new lines, doubling, and other miscellaneous works.
• Agriculture & Farmers: More than 17,500 farmers in Goa stand to benefit from the increase in the Kisan Credit Card (KCC) loan limit, which has been raised to ₹5 lakh.
• Support for Small Enterprises & Startups: The credit limit for micro and small enterprises has been doubled from ₹5 crore to ₹10 crore, offering a significant boost to businesses in the state. Additionally, a new credit scheme for startups will benefit 5 lakh tribal women entrepreneurs, including those in Goa.
• Street Vendors: Over 3,000 street vendors in the state will gain from the revamping of the PM Svanidhi scheme, which includes enhanced credit limits and access to credit cards.
• Tourism Development: Goa is set to benefit from the upgradation of the top 50 tourism destinations in collaboration with states. The increase in MUDRA loan limits for homestays will further support the state’s thriving tourism sector.

The budgetary provisions reaffirm the Centre’s commitment to Goa’s development across infrastructure, agriculture, small businesses, tourism, and entrepreneurship, ensuring economic growth in the coming years.