PANAJI
Crippled financially with the economic bloodbath unleashed by the Covid-19 pandemic, the State government is exhausting its budget approved planned borrowing options to meet its revenue expenditure commitments and will raise Rs 200 crore via the stock sale route.
The Reserve Bank of India (RBI) will auction Goa government securities worth an aggregate of Rs 200 crore next week.
The stocks are of a 10-year tenure and the auction will be routinely conducted by the Central Bank at its Mumbai office next Tuesday.
The Goa government's reliance on borrowings to finance its revenue expenditure and its effect on the State's net debt burden is a subject which is fodder for politicians in the Opposition.
The instant case of raising Rs 200-crore to debt-fund the government, however is pre-voted in the legislature and is part of the planned borrowing accounted for in the budget.
A finance department official said the Centre's refusal to pay the GST dues has further aggravated an already precarious financial position.
The State is laying claim on over Rs 1000 crore as compensation for revenue shortfalls owing to the GST regime.
