Economic Impact

YEARWISE CONTRIBUTION OF MINING IN STATE'S ECONOMY

Goa had been ranked as one of the better placed state for its infrastructure and ranked on top for the best quality of life however due to certain restrictions in economic activities in more recent years, the advantage has temporarily taken a hit.

Goa is also a known a global tourist destination and attracts over 4 million domestic as well as international tourists annually.

Mining had been the major economic activity contributing substantially to the GSDP to the State’s economy in the recent past which has dropped down considerably in the recent years primarily due to stoppage. Mining is more focused in midland of Goa, while tourism is generally limited along the coastal belt of Goa. Over the past six decades, mining had metamorphosed into the backbone of Goa’s economy.

Mining had been a major economic activity in the region. As it accounted for 20% of the GDP, more than 60,000 families and more than 25% of the state population is directly or indirectly dependent on mining.

With the enhancement of statutory taxes in the recent years, the State Government is the biggest beneficiary in terms of tax realization. Over 35% of the average sale price of Iron Ore is collected by the State Government alone. The State Government essentially collects its taxes by Way of Royalties, District Mineral Funds, NMET, Goa Iron ore Permanent fund (GIOPF) and various other permits and cess imposed on transportation and utilization.

YEAR	PRIMARY	SECONDARY	TERTIARY	TOTAL	MINING	% of Mining in Primary	% of Mining in GSDP
2007-08	394304	704491	857701	1956496	253255	64.23%	12.94%
2008-09	576977	864428	1099978	2541383	427857	74.15%	16.84%
2009-10	666123	969675	1276756	2912554	500345	75.11%	17.18%
2010-11	854919	1735550	1725189	4315658	667856	78.12%	15.48%
2011-12	847915	1861030	1231621	3940566	643618	75.91%	16.33%
2012-13	437289	1710767	1339245	3487301	208663	47.72%	5.98%
2013-14	315688	1411116	1475558	3202362	3977	1.26%	0.12%
2014-15	314677	2323289	1681083	4319049	3811	1.21%	0.09%
2015-16	382757	2717008	1855158	4954923	31568	8.25%	0.64%
2016-17	554490	3082173	2036160	5672823	152218	27.45%	2.68%
2017-18	632439	3382047	2339719	6354205	97859	15.47%	1.54%

Source: Economic Survey, Goa

* It may be noted that only major taxes are computed above