PANAJI
“It is a budget for everyone. There is something in it for everyone,” Parsekar pointed out, as he elaborated on agricultural schemes as well as various other expenditure outlays in his budget.
Defending several decisions including hiking VAT on petrol, Parsekar said that the reduction was first introduced as it was aimed at easing the high petrol prices that would benefit the common man.
“However, as oil prices have declined, it was not needed,” Parsekar said, even as he promised that the fuel price in Goa would remain below ₹55 per litre.
No sooner had he finished however, oil companies hiked the petrol price by more than ₹3 per litre. With the added burden of VAT hike from April, fuel prices in Goa will likely be in the region of ₹56 from the current ₹51 per litre.
The government also increased the VAT on aviation fuel given the low oil prices.
Speaking about the issue of failing to meet his revenue targets last year, Parsekar said it was primarily because the mining sector didn’t take off as expected, and hence this year they have revised the estimates of revenue they have received from the mining companies.
Justifying other decisions like that of hiking casino entry fee, Parsekar mentioned that while ₹300 didn’t make a difference to gamblers, it would mean increased revenue to the State. On the issue of increasing the age limit for government servants, Parsekar said it was done to help deserving candidates who have crossed the age to enter government service.
“They come in with huge experience and we will also have to pay them less pension when they retire,” Parsekar said amid allegations that it would be more difficult for younger candidates to get government jobs.
Parsekar said that the government was well within its limits with Gross Fiscal Deficit estimated for the year 2015-16 that stood at 2.84 per cent of GSDP.
“This is within the ceiling of three per cent prescribed by the Goa FRBM Act. The estimated Debt “ GSDP ratio stands at 17.07 per cent for the fiscal 2016-17. This is within the ceiling of 25 per cent prescribed by the Goa FRBM Act, and therefore debt availed by the State is within sustainable limits,” Parsekar said. Goa’s per capita income at current prices was ₹2,57,490 which is highest in the country. The growth rate of the State GSDP which slowed down due to the ban on mining to 4.17 per cent in 2012-13, has picked up to 7.71 per cent in 2013-14. The Gross State Domestic Product in 2015-16 at current price is estimated (GSDP) at ₹60,894.83 crore. The GSDP at current prices for the fiscal 2016-17 is estimated at ₹70,400.03 crore, thereby reflecting a growth rate of approximately 10 per cent.
