PANAJI
The State government is raising Rs 200 crore and has resorted to the sale of Goa government stock (securities) of 10-year tenure for that amount.
The proceeds are to be utilized to finance the capital expenditure of development projects, according to the notification.
The auction for the stocks will be conducted by the Reserve Bank of India at its Mumbai Office on February 23.
Meanwhile, Goa was released a fresh tranche of Rs 20 crore by the Union Finance Ministry as part of the instalLment to meet the shortfall in Goods and Services Tax compensation owed to states.
The Centre has disbursed a total of Rs 807.89 crore to Goa to meet the GST compensation shortfall on account of GST implementation.
The State has on earlier occasions too gone to the market to borrow money in an effort to tide over its expenditure. The opposition has warned the government it was moving towards a debt trap.
It has warned the government to borrow only for its capital expenditure requirements, and not committed expenditure.
The opposition has been calling upon the governmnet to go in for austerity measures in the face of this financial burden and not to announce unnecessary schemes.
