After years of sluggishness due to theCovid-19 pandemic, the expects Goa’s economy to grow by 10.3% in the coming financial year. The Growth is likely to be driven by the newly-constructed Manohar International Airport at Mopa,tourism, and the anticipated resumption of mining activities.
The government’s optimistic outlook is revealed in the Economic Survey report for 2022-23, which was tabled in the state legislative assembly by CMPramod Sawant.
The Economic Survey sheds Light on the impact of the Covid-19 pandemic, pointing out that against the Average growth rate of 6% in 2017 and 2019, Goa witnessed a degrowth of -6.6% during the outbreak. However, Goa’s economy has bounced back since then, and is on course to register a growth of 9% in the 2021-2023 period. These estimates are at current prices and not indexed against Inflation.
As per the finance department’s advance estimates, the value of Goa’s economy in 2022-23 is Rs 90,641 crore. “The Goan economy is in a favorable position to witness growth of 10.3% in 2023-24,” said the Economic Survey.
Phase-1 of theMopa airportcommenced operations in January, and the survey states that more than 1,300 Goans have gained EMPLOYMENT at the privately-owned and operated airport.
The government has also initiated the ‘Mopa Plantation Programme’ to encourage locals to plant indigenous species of Plants along with Cash Crops in the vicinity of the airport.