PANAJI
Despite critic that there seemingly is not much for Goa in the Union Budget, specially from Opposition politicians, perusal of the financial statement presented to Parliament by the Union Finance Minister Nirmala Sitharaman on Saturday shows a larger devolution of funds from the Centre's tax and duties kitty.
In fact the State's exchequer will be richer by Rs 5,490.62 crore in the upcoming financial year as the budget estimates have recorded it as the amount Goa will get as its share of the Union taxes and duties.
While in percentage of the total tax and duties proceeds of the Centre, Goa's share works out to the same 0.386% it was entitled to in the current fiscal which will end on March 31, in real terms it is over Rs 500 crore more than the quantum of tax funds it got (or is to get by March 31).
For the 2024-25 fiscal year, Goa's net share of the Centre's tax and duty collections stands at Rs 4,967.38 crore, which is Rs 523 crore less than the Rs 5,490 crore estimated in the budget presented by Finance Minister Sitharaman on Saturday.
This estimated amount includes Rs 1,533.17 crore from corporate tax share, Rs 2,045.70 crore from income tax share, Rs 1,598.46 crore from Central GST, Rs 252.72 crore from customs, Rs 52.50 crore from central excise duties, and Rs 7.91 crore from other taxes and duties.
Another Budget 2025 initiative which could benefit Goa through the spinoffs from it is the modified 'Udaan Scheme' which Sitharaman said will be launched to improve regional connectivity.
Being a tourist State which in recent years is largely dependent on domestic rather than international tourists for numbers, Goa could largely benefit from the push to domestic aviation with the proposed addition of 120 more destinations.
