PANAJI
The Gross State Domestic Product (GDP) has registered a growth rate of 1.62% when calculated at constant (2011-12) prices as compared to the negative 0.07% growth rate observed the previous year with the secondary sector accounting for 55% of the GSDP followed by the tertiary sector which accounted for 39.72% and the primary sector at 5.24%, the economic survey has revealed.
At constant prices the GSDP is estimated to be Rs 53959.86 crore as against 53099.57 crore in the year 2019-20.
“The anticipated GSDP at market prices of Goa is expected to grow at 1.62% during 2020-21 as compared to 0.07% during 2019-20. The growth rate in GSDP dipped from 11.19% in 2016-17 to 0.07% in 2019-20. However, the rate for the year 2020-21 is 1.62%,” the survey revealed.
At current prices, the GSDP is valued at 78337.92 with a growth rate of 4.69%, as against the national growth rate of -1.4%, the survey revealed.
“The year is also expected to see the continued shrinking of the primary sector which accounted for 8.75% during 2017-17 decreased to 8.26% during 2017-18 further reduced to 5.55 per cent in 2018-19, it is expected to contribute to 5.24% in 2020-21,” the survey said.
The composition of the secondary sector which was about 26.43% during 2016-17 has dipped to 56.26% during 2017-18 in 2021 and is expected to contribute 55.04%.
However, the composition of the tertiary sector increased from 34.82% in 2016-17 to 39.72% in 2021.
The document that was tabled before the Goa Legislative Assembly by Chief Minister Pramod Sawant also revealed that the State has received an amount of Rs 2203.63 lakh to the consolidated funds of the State and Rs 1568 crore through a special purpose vehicle account during the now concluding financial year 2021-22.
As per the budget estimates, the total revenue receipts are estimated to be Rs 14,787 crore for the year 2021-22 as against Rs 12652.86 the previous year.
Similarly, capital receipts are estimated at Rs 3631.84 crore as against Rs 3236.42 crore an increase of 12.22%.
The survey also revealed that the public debt of the State stood at Rs 20.824.86 crore which it said was an “increasing trend”. As of 31st March 2017 the State public debt stood at Rs 12.395.42 crore which increased by 22.78% the following year to stand at Rs 15219.65 crore in 2019-20 before increasing by more than 5,000 crore over the last two years to what it is now.
A major component of public debt is market loans which is estimated at Rs 17160 crore for 2021-22 comprising 82.42% of the total public debt. The second major component of public debt is from central loans and NSSF which is estimated at 2650 crore followed by loans from NABARD which is Rs 980 crore.
The survey also revealed that during the Covid pandemic, in the year 2020 26.71 lakh domestic tourists visited Goa and 3-lakh foreign tourists came to Goa as their preferred destination while in the following year (2021) 33.08 domestic tourists and 22,128 foreign tourists arrived in the state which was an increase of 12% over the previous year.
