log on to thegoan.net @thegoanonline MONDAY FEBRUARY 2, 2026 Facebook.com/thegoan The Goan E-Paper (Playstore/IOS) 14 pages PRICE ` 10 PANAJI MARGAO GOA VOLUME XI, NO. 225 MORE TIME TO REVISE TAX RETURNS WITH PAYMENT OF FEE PEOPLE WITH ITR-1 AND ITR-2 FORMS CAN FILE RETURNS TILL JULY 31 GIRLS’ HOSTELS IN EVERY DISTRICT CONTENT CREATOR LABS IN 15,000 SCHOOLS, 500 COLLEGES BASIC CUSTOMS DUTY ON 17 CANCER DRUGS/ MEDICINES EXEMPTED PERSONAL IMPORTS OF DRUGS, MEDICAL FOODS ALLOWED Instagram.com/thegoanonline Pakistan to skip high-profile T20 World Cup match against India  >P14 RNI: GOAENG/2015/65729 HI-TECH TOOL ROOMS TO BUILD ADVANCED MATERIAL FOCUS ON DEVELOPING INFRA FOREIGNERS CAN BUY INDIAN STOCKS DIRECTLY FRAMEWORK TO PROMOTE CORPORATE BONDS Budget doubles down on growth  CAPEX, MANUFACTURING TAKE CENTRE STAGE  NO CHANGE IN INCOME TAX RATES  TAX HOLIDAY FOR GLOBAL CLOUD FIRMS USING INDIAN DATA CENTRES PTI of Creative Technologies, a flagship initiative of the Ministry of Information and Broadcasting. “India's Animation, Visual Effects, Gaming and Comics sector is a growing industry, projected to require two million professionals by 2030,” Sitharaman said. “I propose to support the Indian Institute of Creative Technologies, Mumbai, in setting up AVGC content creator labs in 15,000 secondary schools and 500 colleges,” the finance minister said. NEW DELHI Finance Minister Nirmala Sitharaman on Sunday announced measures to boost manufacturing, offered long-term tax incentives for global data centres, and support for agriculture and tourism as she unveiled a Rs 53.5 lakh crore Union Budget for 2026-27, seen as a long-term blueprint for sustaining growth amid rising global risks. UNION BUDGET REACTIONS GLOBAL INTEGRATION SEE PG 6 Detailed coverage - Pgs 8 & 9 Shunning populist measures despite five key states, including West Bengal and Tamil Nadu, heading to polls, the Budget signalled continued fiscal consolidation and infrastructure spending. VIKSIT BHARAT AT THE CORE Presenting her record ninth consecutive Budget, Sitharaman, in her nearly 90-minute speech in the Lok Sabha, announced detailed anchor schemes for becoming “Viksit Bharat” — boosting employment while combining technologies of the future with legacy industries. Amid geopolitical concerns, fragmentation and financial tightening across the globe, she said manufacturing will be scaled up across seven priority sectors — pharmaceuticals, semiconductors, rare-earth magnets, chemicals, capital goods, textiles and sports goods — with an emphasis on job creation and technology-driven development. TAX MEASURES While there were no major changes to personal income-tax slabs, the government announced tax and incentive measures aimed at boosting investment and ease of compliance for the industry. Sitharaman announced a Rs 10,000 crore investment over five years to develop India as a biopharma manufacturing hub, rare earth corridors, textile parks, more container manufacturing, chemical parks, measures to strengthen capital goods manufacturing and efforts to revive 200 legacy industrial clusters. costs for data centre services provided by related entities of foreign cloud firms. The move is expected to provide tax certainty and operational efficiency for global cloud players, as India attracts large-scale investments from firms such as Google, Microsoft and Amazon Web Services, which have committed about USD 40 billion in 2025 alone. 20-YEAR TAX HOLIDAY CUSTOMS REGIME SIMPLIFIED A major announcement was a 20-year tax holiday for overseas firms providing global data centre services from India, along with a 15 per cent safe harbour on The Budget also simplified the customs regime, rationalising exemptions, waiving duties on 17 cancer drugs, easing bag- gage rules and cutting duty on personal imports to 10 per cent. Support was announced for livestock, fisheries, high-value agriculture and textiles, while tourism proposals included eco-friendly mountain trails in Himachal Pradesh, Uttarakhand and Jammu and Kashmir, and the development of 15 archaeological sites. CONTENT CREATOR LABS Sitharaman announced support for setting up content creator labs across 15,000 secondary schools and 500 colleges under the aegis of the Indian Institute India, she said, will continue to take confident steps towards Viksit Bharat, balancing ambition with inclusion. “As a growing economy with expanding trade and capital needs, India must also remain deeply integrated with global markets, exporting more and attracting stable long-term investment,” she noted. At a press conference post-presentation of the Budget, Sitharaman defended the STT increase, saying it was intended to discourage small investors from speculative trading in derivatives. Prime Minister Narendra Modi described the Union Budget 2026-27 as “historic”, saying it reflected the aspirations of 140 crore Indians and strengthened the reform journey while charting a clear roadmap for Viksit Bharat. MAT CHANGES The Budget seeks to accelerate the shift to a simpler corporate tax regime through changes to Minimum Alternate Tax (MAT) provisions. Companies opting for the new regime will now be allowed to set off accumulated MAT credit, capped at 25 per cent of annual tax liability. Other key announcements include raising the investment limit for Persons of Indian Origin (PROI) in Indian listed companies from 5 per cent to 10 per cent, with the aggregate limit increased to 24 per cent from 10 per cent. Goa gets `1,049 cr from Centre Why Centre slashed p’yat funds against its `3,600 cr demand THE GOAN I NETWORK Request to raise central tax share to 50% turned down THE GOAN I NETWORK PANAJI The 16th Finance Commission has allocated Rs 1,049 crore to Goa for the five-year period from 2026-27 to 2030-31, a recommendation that has been accepted by the Central government. This is significantly lower than the State’s demand of Rs 3,600 crore, but still marks a substantial increase over the previous award. The Commission has also turned down Goa’s request to raise the States’ share in central tax devolution to 50 per cent, with the Centre deciding to retain the BREAKUP OF GOA’S ALLOCATION ` 726 cr earmarked for urban local bodies ` 174 cr allocated for rural local bodies ` 149 cr sanctioned to- wards disaster management existing 41 per cent vertical devolution for all States. Despite falling short of the State’s expectations, the total Price shock! Beef crosses `500/kg, kingfish `1,100 THE GOAN I NETWORK PANAJI Retail markets across Goa are witnessing a sharp rise in the prices of meat and fish. Consumers say the surge has made everyday staples unaffordable while traders blame reduced supply and strong demand from hotels. Beef has crossed the Rs 500 per kilo mark. It is now the most expensive red meat after mutton. The hike is significant for Goa’s large Catholic community and Muslims, who consume beef widely. Vendors in the Panaji market told The Goan that the increase reflects rising trans- port and costs of procurement from neighbouring States. Fish prices meanwhile have soared even higher. Kingfish, the most popular catch in Panaji’s market, is now selling at Rs 1,100 per kilo. In December, it was priced between Rs 650 & Rs 700. Other prized varieties have also become dearer. Chonak is now quoted at Rs 750 per kilo, up from Rs 500 just two months ago. Modso has climbed to Rs 450 per kilo, compared to Rs 300 in December. Smaller species, once considered affordable, are no longer within easy reach. Mackerels, sardines, and milk fish have all seen steep hikes. allocation represents a jump of nearly 49.85 per cent compared to the Rs 700 crore granted to Goa by the 15th Finance Commission for the period beginning 2020-21. According to the report tabled in the Lok Sabha by Union Finance Minister Nirmala Sitharaman, Rs 726 crore of the total allocation has been earmarked for urban local bodies (ULBs), while Rs 174 crore has been allocated for rural local bodies (RLBs). In addition, Rs 149 crore has been sanctioned towards disaster management. >Continued on P7 PANAJI Goa’s rural local bodies have paid a heavy price for persistent administrative lapses, with the 16th Finance Commission slashing panchayat funding by more than 50 per cent for the five-year period ending 2030-31. The sharp cut follows the State government’s failure to ensure submission of utilisation certificates and audited accounts by village panchayats, a mandatory condition for the release of central grants. Against an allocation of Rs 368 crore for rural local bodies (RLBs) under the 15th Finance Commission, the 16th Finance Commission has earmarked only Rs 174 crore for the next five-year cycle. The funding squeeze is further compounded by the Centre withholding Rs 168 crore allocated to THE PROBLEM AT HAND „„Mandatory utilisation certificates were not submitted on time „„Audited accounts of village panchayats were pending „„Centre had issued multiple reminders, sought corrective action „„Non-compliance left no basis to verify fund usage „„Delays were procedural, not policy-related Goa under the 15th Finance Commission, which has remained pending since 2022-23. Data from the Union Ministry of Panchayati Raj reveals that under the 15th Finance Commission period (2020–26), the Centre has released only about 54 per cent of the total allocation to Goa’s panchayats -- Rs 200 crore out of Rs 368 crore. No grants have been released for the financial years 2023-24, 2024-25 and the ongoing year so far, despite allocations of Rs 58 crore, Rs 62 crore and Rs 61 crore respectively. Sources said the delay is entirely procedural. “The Centre takes into account several compliance factors before releasing grants. Despite repeated reminders and corrective steps, the panchayats have consistently failed to submit utilisation certificates and account audits. Without this data, there is no scope for release of MISSION TO TRANSFORM INDIA’S SPORTS SECTOR FOCUS ON TALENT, GRASSROOTS SPORTS SENSEX 80,722.94 -1,546.84 (-1.88%) NIFTY 24,825.45 -495.20 (-1.96%) WHY MARKETS CRASHED! Securities Transaction Tax on futures contracts raised to 0.05% from 0.02% Securities Transaction Tax on options raised to 0.15% from 0.01% HIDDEN GEMS FOR GOA MEDICAL TOURISM HUB Goa is positioned to benefit from the establishment of one of five regional Medical Tourism Hubs to promote ‘Heal in India’ DESTINATION DEVELOPMENT Goa likely to benefit from national initiative to upgrade 50 top tourism destinations across India CULTURAL HERITAGE Government plans to develop 15 archaeological sites into experiential cultural destinations. HOSPITALITY EDUCATION National Council for Hotel Management and Catering Technology will be upgraded to a National Institute of Hospitality FARM PRODUCTIVITY Coconut scheme to replace old trees with new high-yield saplings; Programme to make Indian cashew a premium global brand and subsidy programme for animal husbandry FISHING BOOST Fish catch by Indian fishing vessels on high seas made duty free while landing catch at foreign ports will be treated as exports NATURE TRACK Turtle trails along key nesting sites in the coastal areas to be promoted while bird watching trails have also been proposed >Continued on P7 Goa tears into CEC report in affidavit on tiger reserve SHWETA KAMAT MAHATME THE GOAN I PANAJI T he Goa government has mounted a strong, legal and scientific challenge before the Supreme Court to the Central Empowered Committee (CEC) report recommending declaration of a tiger reserve in the State, arguing that the proposal is based on an erroneous understanding of law, lacks empirical backing, and ignores the State’s right to decide conservation measures best suited to its unique geography and social conditions. In an affidavit filed by Additional Principal Chief Conservator of Forests (APCCF) Ramesh Kumar, the State „„CEC’s tiger understand local conditions reserve report is GOA’S ‘superfluous’ AFFIDAVIT „„CEC should and unnecesnot have IN THE sary assumed that SUPREME a tiger reserve „„Could must be declared lead to local COURT in Goa resentment, resettlement pressures, „„SC must not rely on and increased man–animal vague, unscientific CEC conflict report „„States have statutory „„CEC report suffers from discretion to decide on contradictions and non-aptiger reserves, as they best plication of mind „„No confirmed tiger presence in Goa’s protected areas „„No tigers recorded in Netravali or Cotigao Sanctuaries in last 3 All India Tiger Estimation cycles „„Tiger reserve can be notified only where breeding or resident tigers exist „„CEC failed to determine whether any tigers in Cotigao–Mhadei region are resident or merely transient unintended consequences, including resentment among local inhabitants due to resettlement pressures and a rise in man–animal conflict. The State has asserted that the statutory scheme vests discretion with State govern- cautioned that directing notification of a tiger reserve in Goa would be “superfluous” and could trigger serious ments, which are best placed to assess localised challenges such as dense habitation, land scarcity and socio-economic impacts. The CEC, Goa contends, ought to have left decisions on inclusion or exclusion of areas to the State, rather than proceeding on what it termed a pre-determined assumption that a tiger reserve must be declared. “Report submitted by the CEC ought not to be considered by this Hon’ble Court. Given the lack of any scientific, legal and ecological justification behind its observations and recommendations, the Report suffers from vagueness and demonstrates failure to properly consider and/or appreciate the issues involved,” the affidavit states. The State further submitted that the report’s observations are riddled with contradictions and “non-application of mind,” particularly on the most fundamental issue — the presence of tigers in Goa’s protected areas. A central plank of Goa’s argument is that there is no scientific necessity to declare Netravali and Cotigao Wildlife Sanctuaries, or any other protected area in the State, as a tiger reserve. The affidavit points out that no tigers have been recorded in these sanctuaries in the past three cycles of the All India Tiger Estimation (AITE). This position, Goa says, >Continued on P7