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Economic challenges of Goa need for urgent resumption of Mining-Charudutta Panigrah


The contraction in Goa s economy is likely to be in the range of 15%, one of the highest in India. The state is bound to borrow money in the current financial year to meet this spiralling deficit which if continues unabated, will result in a major state depression. The famed prosperity of Goa is at the brink of staring at a severe depletion in socio economic status. The situation can be salvaged to a large extent, if not completely wiped off in the immediacy.  
Tourism and mining have been the mainstays of Goan economy and the two major sources of livelihood of local population. Mining ban and Covid-19, have brought the two sectors to their knees. There is stalemate in tourism and a low-income generating tourist inflow is flooding the state these days. The complete shutdown of mining, since 2018, has created unprecedented unemployment crisis and in its third year is endangering the existence of more than 300,000 people. Loans can t be repaid, NPAs are on the rise, household ....

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