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Industrial Policy Of Goa

Goa is the smallest state in the Indian Union. The Capital of Goa is Panaji. It has a population of around 1,169,793 million. Earlier it was part of the Union territory of Goa, Daman and Diu. Situated between Karnataka and Maharashtra, Goa is bounded on the north by the Terekhol River, surrounded on the south and east by Karnataka, while on the west is the Arabian Sea. This popular tourist spot is reputed for its clean and stable state administration, which is quick in its response. The Per Capita Income in Goa is Rs 14,736 and the Inflation Rate is 13.7%.

  • 50% subsidy on the cost of preparation of feasibility studies
  • Capital investment subsidy of 25% of fixed capital (up to Rs 25,000,000)
  • Sheds available on hire-purchase basis, with 10% down payment and rest payable over 10 years
  • Water and power at concessional tariff to new units at 25% below the commercial tariff
  • Price preference of 15% on purchases by government departments from small-scale units
  • Sales tax exemption (up to 15 years) on finished products for small-scale units
  • Sales tax deferment-cum-interest free sales tax loan scheme for new industrial units
  • 50% stamp duty exemption on bonds in favor of state FIs and scheduled commercial banks
At the time of Liberation in 1961, there were hardly any industrial activities in Goa with the exception of mining. Contributing to this was that the State had lost out on two Five-Year Plans that had provided the rest of the Country a valuable lead in economic growth.

Goa today has over 6700 Small Scale Industrial units, 147 Large and Medium Scale Industries employing over 50,000 people. The State has developed/established 20 industrial estates; some of them are among the best in the country. The industrial activities encompass about 50 sub sectors which include tourism, pharmaceuticals, electrical and automobile accessories etc. Inspite of this, we are yet to achieve lot in the industrialisation process. The Government is now gearing up for accelerated industrial development and overall economic growth. Proper environmental concern, social infrastructure, well being of its people and various needs of existing industries had been taken into consideration while drafting this Policy.

Goa has done fairly well in the last two decades on the Industrial front inspite of various handicaps. The explanation for this does not lie in any planned development strategy that the State adopted- indeed there was a pointed lack of any such strategy - but in Goa’s natural advantages and inherent strengths. The breath-taking natural beauty of Goa attracts tourists from all over the world creating a flourishing tourism industry that is a significant source of revenue and employment generation. The mining sector itself depended and continues to depend on the natural ore resources available in the State.

Goa Industrial Policy 2003

Over the years, these advantages have reflected in the socio-economic indicators of the State, which are simply among the very best in the country. It has a high total literacy rate of 82.32%, with female literacy at an admirable 75.51% and male 88.88%. The birth rate (per thousand) is 17.85 and the death rate (per thousand) is at a low of 7.16. The infant mortality rate too is among the lowest in the country - at 13.99 (per thousand). The State has a wide coverage of public health centres and educational institutions.