GOA BUDGET
2019-20
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HIGHLIGHTS
>> Gross expenditure nearly Rs 2,425 cr higher than budgeted spending of current year
>> Vote-on-account sought for Rs 8145 cr to off-set expenditures of first 5 months
>> 10 per-cent growth in Gross State Domestic Product (GSDP) projected
>> Projection of Rs 3,336.47 cr as the State's share of Central taxes
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FOR MINING
>> Rs 15 crore for 'welfare' of the mining affected people
>> Additional Rs 15 cr for pumping residual water from pits into local natural water bodies
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HOW THE RUPEE COMES ...
>> Share in Central taxes: 23 paise
>> Grants in aid from Centre: 9 paise
>> Borrowings & other liabilities: 17 paise
>> State's own non-tax revenue: 13 paise
>> State's own tax revenue: 39 paise
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... AND HOW IT GOES
>> Grants in aid and other transfers: 13 paise
>> Establishment: 11 paise
>> Debt servicing: 13 paise
>> Investment, advances, contributions: 11 paise
>> Salary, wages, pension & gratuity: 24 paise
>> Subsidies: 2 paise
>> Works, maintenance & materials: 27 paise
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PANAJI: Ailing chief minister Manohar Parrikar on Wednesday presented a Rs 455.10-crores 'revenue surplus' budget for 2019-20, entailing a gross expenditure of Rs 19,548.69 crores, nearly Rs 2,425-crores higher than the government's budgeted spending of the current year. Visibly troubled by the discomfiture induced by his ailment, Parrikar, however used his speech to hit out at his detractors and the Opposition Congress for questioning his functionality due to his medical condition.
"Present circumstances have prevented me from delivering a detailed budget speech, but there is a josh that is too high, very high and I am in hosh. Fully in hosh. I am sure that my figures will speak more than words, and further, these figures will be effectively translated into results," Parrikar said.
Seeking permission from the Speaker Pramod Sawant which was granted, Parrikar read out his brief budget speech while seated.
Helped by marshals to flip pages of the budget speech document, Parrikar also sent out a strong signal that he had no intention of running away from the political battlefield due to his ailment saying: "Today, once again, I promise that I will serve Goa with sincerity, integrity and dedication until my last breath."
For the first time ever, Parrikar also presented the budget - his speech and all other documents and budget details - in paper-less, electronic soft-copy format.
On the directions of the speaker, Parrikar, visibly in a spot of discomfort, was abruptly stopped from continuing reading his speech. It was then tabled in the House electronically, and a package including notepads with the details loaded on it, distributed to each MLA.
As expected, to keep government expenditures going until the passing of the full budget, Parrikar sought a vote-on-account for Rs 8145 crores to off-set the expenditures of the first five months of the 2019-20 fiscal.
It however does not articulate the governments taxation details except for projecting gross collections of Rs 9039.19 crores through the State's own taxes. It also projects Rs 3,336.47 crores as the State's share of Central taxes.
Through the budget, Parrikar also projected a challenging 10 per-cent growth in Gross State Domestic Product (GSDP) from the Rs 77,171 crores estimated in 2018-19 to Rs 84,888-crores for the next year.
The budget, Parrikar said emphasises the government's thrust in education, health, agriculture, Information Technology, infrastructure and employment. It also makes a Rs 15-crores allocation for 'welfare' of the mining affected people and an additional Rs 15-crores for a scheme to pump residual water from pits into local natural water bodies in the mining regions of the State.
Sticking to the trend of several successive years in the past, Parrikar said: "Overall for the year 2019-20, the annual financial statement indicates a revenue surplus estimated at Rs 455 crore."
Some significant fund allocations in major sectors in the budget include, nearly Rs 2240 crores for education, including Rs 411-odd crores for higher education and Rs 203-odd crores for technical education.
Health has been allocated Rs 1,333.39 crores, Rs 534-odd crores for Agriculture, Rs 394-odd crores for Information Technology, and Rs 314-crores for Sports.
The budget for heavy infrastructure sector including public works and water resources have been allocated a whopping Rs 3,264-odd crores and the power sector got Rs 2,439-odd crores.
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SURGE IN ALLOCATION TO
CERTAIN SECTORS
Within education, the allocation for technical education has increased by a huge 29% to reach Rs 203.99 crore in 2019-20 from Rs 158.1 crore in the previous year.
Health was another area, which saw a huge growth in allocation in 2019-20 compared to 2018-19.
Parrikar allocated Rs 1,333.39 crore to health in 2019-20, which was 33.1% more than Rs 1,002.2 crore allocated to this sector in 2018-19.
The State Government has increased focus on IT in recent times by launching an IT Policy and a Start-Up Policy. It appears that the government is going to continue focus on this sector in 2019-20 as well.
Parrikar has allocated Rs 394.57 crore to IT in 2019-20, which was 19.1% more than Rs 331.2 crore
allocation in 2018-19.
Agriculture, animal husbandry, fisheries was another area, which saw significantly higher allocations in 2019-20 compared to the previous year. Parrikar allocated Rs 534.73 crore to agriculture, animal
husbandry, veterinary services, fisheries & forests in 2019-20, which was 17.9% more than Rs 453.5
allocated in 2018-19.
Meanwhile, allocation to panchayats and rural development increased by 20.3% to reach Rs 290.55
crore in 2019-20.
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Concern over gross
public debt persists
PANAJI: The oft repeated concern over Goa's gross public debt estimated at Rs 15,008.66 crores in the budget presented by Chief Minister Manohar Parrikar on Wednesday, continued to be burdensome for the State exchequer. Buried somewhere in the figures of the documents electronically tabled in the House is a rising interest repayment burden of Rs 1500-odd crores.
In the budget estimates for 2018-19, this interest repayment burden was Rs 1000-odd crores, registering a steep increase of 50 per-cent, indicating the State's growing dependency on market borrowings to meet its fiscal deficit needs.
The government, according to the budget presented on Wednesday, is expected to pay out more than a quarter of its total expenditure in 2019-20 for loan repayments.
