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ESTIMATES FOR 2016-17
* Revenue receipts: ₹10,641.96 cr
* Expenditure: ₹10.483.14 crore
* Surplus: ₹158.82 crore
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VAT A HARD DRIVE!
High end cars costing more than ₹15-lakh and bikes costing more than ₹2-lakh will also face a higher VAT of 15% from the existing 12.5%
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WATCH OUT! A PETROL BOMB
The government has decided to hike the VAT on petrol being sold in the state from the existing 15% to 22% taking it to pre-2012 levels as the state seeks to ramp up its tax collection.
The decision will see the petrol price rising in the state by ₹3.84 per litre no sooner do the budget proposals come into force.
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OPPOSITION FLAYS, CM HAILS
Fiscal situation
ignored: Rane
Leader of Opposition Pratapsingh Rane chided the government for what he termed is an “election budget” which he said has been drafted keeping votes in mind and ignoring the fiscal situation of the state. “He has tried his best to show a rosy picture,” Rane said adding that a more detailed reaction would follow.
Something in it for
everyone: Parsekar
Chief Minister Laxmikant Parsekar praised his own budget saying that his effort was aimed towards taking all the schemes to the deserving people of the State. “It is a budget for everyone. There is something in it for everyone,” Parsekar said as he pointed out the agricultural schemes as well as other expenditure outlays in his budget.
MIXED REACTIONS FROM INDUSTRY
>> See pg 2
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PANAJI: Chief Minister Laxmikant Parsekar, delivered what could be his last budget as chief minister, with one eye clearly set on BJP’s core constituency -- rural Goa -- with huge push on farming and rural sectors.
The budget for the year 2016-17 estimates revenue receipts to be ₹10,641.96 crore and revenue expenditure is estimated to be ₹10.483.14 crore leaving the state with an estimated surplus of ₹158.82 crore.
The more than two hour long speech, interspersed with copious gulps of water, saw Parsekar lay his firm thrust on the agriculture, dairy and fisheries industries increasing the financial allocation for the three heads to ₹444.20 crore from the ₹181.88 crore of the earlier year besides a whole lot of sops for organic farming, dairy farming, fisheries including several new schemes in the sector.
On the other end of the spectrum however, the government has decided to hike the VAT on petrol being sold in the state from the existing 15% to 22% taking it to pre-2012 levels as the state seeks to ramp up its tax collection.
The decision will see the petrol price rising in the state by ₹3.84 per litre no sooner do the budget proposals come into force.
Besides this, the tourism sector too has been hard hit with the government withdrawing its exemption on luxury tax during the ‘off-season’ from June to September it gave to the hotel industry citing that tourism in Goa is tourism in Goa is no longer restricted to a season only.
High end cars costing more than ₹15-lakh and bikes costing more than ₹2-lakh will also face a higher VAT of 15% from the existing 12.5%.
Crucially the government has decided to increase the maximum age to avail Government job taking it to 45 years from the current limit of 40 years.
“In [the] present conditions many Goan youth are deprived of Government employment only because of crossing the age bar although otherwise eligible for the job. This age barrier breeds frustration among the educated youth,” Parsekar said in his speech.
Among the important sops that the chief minister has afforded the agriculture sector included a special scheme for organic farming, a award for the farmer producing the most milk in a year, community dairy farming, ₹2.5 lakh per beneficiary for an ornamental fish farming scheme, extending the brackish water aquaculture scheme to freshwater aquaculture, a new scheme for crab, mussel and oyster farming in mangrove forests besides also subsidies for purchase of net for ramponkar and increasing the petrol quota for mechanised fishermen.
Through the budget speech, Parsekar also announced several new infrastructure projects in the State including a two lane bridge connecting Kharwada and Caranzalem in Madkai costing ₹16.32 crore, high level road bridge across river Mandovi between Savoi-Verem and Cottombi including approaches costing ₹21.00 crore, bridge at Palaskato (Maisal) in Mollem costing ₹5.8 Crores, bridge at Ambe-Dullai, Sanvordem costing to ₹7.97 Crores and bridge at Sanguem Dando costing ₹10 crore as well as sewage treatment plants at Vasco, Margao and Colva during 2016-17.
