the goan I network
PANAJI
Chief Minister Manohar Parrikar, as part of the budget presented the annual financial statement for the year 2018-19, estimates for receipts for 2018-19 and demand for grants for 2018-19. However, the Budget did not have tax proposals and policy announcements for the next financial year.
The Budget 2018-19 was curtailed on account of Parrikar’s health situation. During his Budget speech, Parrikar said, “My health status has prevented me from preparing a detailed budget speech, outlining the achievements, policies and new schemes of our government. However, by the end of FY 2017-18, I would be implementing in parts new schemes and measures for revenue generation, which involve rationalisation of creation of fees, taxes and duties so that they get implemented from the beginning of next year.”
This means that there will be some policy direction in terms of taxes and schemes for the next financial year before March 31. Parrikar further said, “I have already made provision for the inclusion of new schemes in the proposed budget (for the year 2018-19).”
“In order to discharge the responsibility of government expenditure, including ongoing revenue and capital schemes pending the passing of full Budget, I seek the vote of account for first five months of the year. I will be coming out with details of various new schemes and policies in due course,” he continued.
This means the government has sought the approval of the House for government spending for the first five months of the financial year 2018-19. Meanwhile, the House gave the said approval and authorization with the passing of the Appropriation Bill.
