Centre waives Rs 20.20 crore debt of Goa

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Panaji, Mar 25 (UNI) The Centre has waived Goa's Rs 20.20 crore debt on repayment of central loans for the year 2007-08 in addition to Rs 32 crore in the previous fiscal.

''The debt waiver is the result of prudent fiscal reform undertaken by the Goa government and a proactive debt management policy pursued by the Debt Management Unit of the state Finance Department,'' an official release said here today.

The department had also entrusted the task of formulating State's Medium Term Fiscal Plan and the Fiscal Responsibility and Budget Management targets to the National Institute of Public Finance and Policy, New Delhi.

Goa became eligible under the FRBM Act for debt consolidation and relief as per the 12th Finance Commission, resulting in the debt waiver, the release said.


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