PANAJI
Goa registered an 8.60 per cent jump in its total revenue in the first nine months of the financial year 2024-25, signalling positive economic momentum.
The Chief Minister Pramod Sawant took on X to announce that the State has witnessed remarkable growth in its revenue collection for December 2024, with a surge of Rs 75.51 crore compared to the same month last year.
Citing overall revenue picture of the State, Sawant said that for the period from April to December, the total revenue collection reached Rs 4,614.77 crore as against Rs 4,249.34 crore earned during the same period in 2023. The data shows, State earned Rs 365.43 crore additional revenue during the nine months.
“This substantial increase encompasses both GST and VAT revenues, showcasing the State’s improved economic performance. This year’s numbers reflect a strong upward trend, signalling positive economic momentum,” he said.
Sawant also attributed the revenue jump to the significant role played by the tourism sector, with record number of visitors’ arrival this season, so far. “The backbone of Goa’s economy, the tourism sector, has also played a significant role in driving this growth, with a record number of tourist arrivals,” he said.
The data shows the Goods and Service Tax (GST) revenue growth of 9.62 per cent, reflecting the effectiveness of tax reforms and economic activities. Also, Value Added Tax (VAT) recorded 6.41 per cent growth.
“These figures highlight Goa’s continuous economic growth and fiscal health, making December 2024 a significant milestone for the State,” he said.
