Parrikar estimates Rs 455cr revenue surplus in 2019-20

The Goan Network
Riding on a 14.4% growth in total revenue receipts, Chief Minister Manohar Parrikar has estimated that the state government will have a Rs 455 crore revenue surplus for the year 2019-20. A revenue surplus shows that State’s day-to-day income is going to be more than its day-to-day expenditure.
The fact that the State is projecting a revenue surplus is due to a 14.4% estimated growth in total revenue reciepts in 2019-20, which are expected to be Rs 13,593.8 crore as against Rs 11,880.7 crore in 2018-19.
Meanwhile, total revenue expenditure is estimated to be Rs 13,138.7 crore in 2019-20, which is 12% higher compared to total revenue expenditure of Rs 11,736 crore in 2018-19.
Even though the government is expecting a surplus on the revenue front, on the fiscal front, it is
expecting a deficit. Parrikar estimated a fiscal deficit of Rs 1,418.65 crore in 2019-20 as compared to a fiscal deficit of Rs 763.68 crore in 2018-19.
Fiscal deficit shows the difference between state’s total revenue and total expenditure. A deficit on
fiscal front shows that the government will have to borrow more to make up for the gap left by the
deficit.
The government has estimated a public debt of Rs 15,008.7 crore in 2019-20. Compared to that, the
expected gross state domestic product (GSDP) stands at Rs 84,888 crore. This means that estimated
public debt to GSDP ratio in 2019-20 is 17.68%.