PANAJI
Leader of Opposition Yuri Alemao has slammed the government, alleging financial mismanagement as he pointed to the rising Goa’s debt burden.
Speaking to The Goan, Alemao stated that not only the Comptroller and Auditor General (CAG), but he too, warned the government to stop “Events for Commission” and adopt a debt sustainability framework.
According to the CAG report, Goa’s debt rose to Rs 33,573 crore in 2023-24, equivalent to 29.9 per cent of the State’s economic output.
“The BJP government has a habit of targeting Congress and raking up history to save its skin. But today, the CAG report has exposed this incapacitated government. It has failed to achieve long-term sustainability in fiscal management,” he said.
The CAG report on Goa’s financial condition presented a broad outlook of the economic future and emphasised serious weaknesses that require prompt action. While there are some encouraging signs, such as revenue surpluses in specific years and consistent growth in Gross State Domestic Product (GSDP), the prevailing situation highlights fiscal instability resulting from high debt levels and rising expenditure obligations.
Alemao questioned where the government would get the money to repay loans without plans for revenue generation. As per the report, 85 per cent of Goa’s public debt, amounting to Rs 23,470 crore, will come up for repayment within the next 10 years.
“Government has spent more than Rs 600 crore only on events. The government spent Rs 4 crore on the Save Soil Event. It signed a MoU with Isha Foundation, but no results,” Alemao said.
