PANAJI
The Goa government’s coffers got a welcome Rs 213.09 crore instant financial buffer with Thursday’s release of the amount by the Union Finance Ministry under its back-to-back loan facility as compensation for shortfall due to centralised GST collections.
Nearly Rs 125.19 crore of this allocation is of a 5-year tenure and the balance Rs 87.90 crore has a two-year tenure: five-year and two-year borrowings through Government of India securities.
Almost every State government in the country is facing a financial crunch with double impact of the pandemic and the switch to the GST regime which has channeled almost every indirect taxation revenues to the Centre.
The funds are expected to be channelled into the State’s public expenditure for health infrastructure and taking up infrastructure projects.
