Budget: How a rupee goes and comes in Goa?

Written by:
Subscribe to Oneindia News

Panaji,Mar 26(UNI) A whoiping 22 per cent of the revenue in Goa goes for meting the burgeoning salaries, wages, pension and gratuity for the fiscal 2008-09, according to an analysis.

It was shown ''how the rupee comes and goes'' presented in the ''budget at a glance'' tabled in the Goa Legislative Assembly by finance minister Dayanand Narvekar here yesterday.

It does not take into account the additional impact onthe exchequer following the implementation of the recommendations of the Sixth Pay Revision Commission.

As many as 27 paise for each Rupee earned goes towards works,maintenance and materials, followed by 18 paise for debt servicing, 13 paise for grants in aid and other transfers, 11 paise on establishment, seven paise on investment, advances and contributions and two paise on subsidies.

On the otherhand, Goa gets 40 per cent of its kitty from itw own tax revenue, 24 per cent on borrowings and other liabilities, 15 per cent from its own non-tax revenues, 12 per cent from its share in central taxes and nine per cent from grants in aid from the Centre, according to the budget estimates.

The estimated revenue receipts for the fiscal 2008-09 amount to Rs 294351.42 lakh as against an expenditure of Rs.271786.91 lakh, thus leaving a revenue surplus of about Rs 22564.51 crores,but leaves fiscal deficit of Rs 79942.37 lakhs.

As much as Rs 84553 lakhs goes for debt servicing as against Rs 4280.68 crore public debt outstanding as on March 31, 2007.The debt-GSDP ratio gradually rose from 18.93 per cent in the year 2000 to a whooping 31.03 per cent now,which, according to Opposition leader Manhoar Parrikar, reached a dangerous level leading the state into a ''debt trap''.


Please Wait while comments are loading...