Re: Amchem Goem (IFFI related extracts - I) GL responds: Thanks Philip and Alban Couto for the post on the above thread. It is always enjoyable to read some factual informative stories about Goa rather than the never-ending posts on ABSOLUTELY non-Goa related topics. Am I alone here? :=)).
Antipathy for the non-Goa related posts on GoaNet is partly balanced by Goa-related posts that are only opinions with little factual / educational benefit. One such thread was Goa's progress and better deployments of Goa's financial resources by the state government. I hope those interested /opined on this subject had an opportunity to read the entire post. It's interesting how the thread about IFFI elicited so many posts. But this post by Philip Thomas and a thread on its benefits and costs and other projects by the government is met by mute silence by this intellectual Goan audience. The part that caught my eye was the analysis of the official receipts and specifically from tourism which some native Goans love to complain about. So here is the quote in its entirety: "the foreign exchange from tourism in Goa is estimated at Rs 1500 crore during an average year and is expected to go up to Rs 2000 crore in 2004-2005." Can someone tell us why the 500 crore INCREASE in foreign exchange THIS fiscal year? And how much has translated into increased state tax receipts? This 500 crore (increase) is into Goa's local economy spent by tourists' consumers at the retail level. And of course this does not include the tourist expenditures by Indians / non-foreigners who visit Goa. They are reported / estimated to be 60% of Goa's tourists. We are told this year, IFFI and SFX exposition cost the Goa government 125 crore (75 + 50). By my calculations, and I hope the accountants come to the same conclusions, that is some pretty good 'return on investment' for native Goans. Please educate me otherwise. I am all ears. Or else is it: "Zano rre! Pun ami Goenkars mhunnon, we love to camplain muree":=)) Regards, GL Philip Thomas: This is an attempt to cull out some quotes from the Seminar Issue on Goa to see if we can get some useful background from it on the IFFI initiative of the government. The state budget estimates for 2004-2005 and the revised estimates for 2003-2004 provide for substantial funding for further initiatives in employment, agriculture, infrastructure and social welfare. The revenue expenditure is estimated at Rs 1584 crore and capital expenditure at Rs 597 crore, with a plan outlay of Rs 915 crore. Both the revenue deficit of Rs 7.95 crore and the fiscal deficit of Rs 506 crore are manageable. Evidently there is a case for enlarged central assistance that rewards performance and efficient management of the economy...In Goa, the foreign exchange earned from the export of iron ore of 23.5 million tonnes, was Rs 1200 crore, an all time high for fiscal 2002-2003; the foreign exchange from tourism in Goa is estimated at Rs 1500 crore during an average year and is expected to go up to Rs 2000 crore in 2004-2005. [The Goan Economy. Alban Couto]
