Goa records revenue surplus for the last fiscal: Minister

Panaji, Aug 10 (UNI) Goa has earned the distinction of recording Rs 141.45 crore revenue surplus for the fiscal 2006-07.

The government is contemplating on increasing the stamp duty on land sales to further boost its revenue by an additional Rs 100 crores as against Rs 116 crores it earned in the last fiscal.

Disclosing this to mediapersons here today, Goa Finance Minister Dayanand Narvekar said the government had decided to cut unnecessary expenditure on several heads including holding of the International Film festival of India (IFFI) beginning on Novbember 24 this year.

It has earmarked Rs five crore towards expenditure on the IFFI as against Rs 10 crore last year for the event.

Mr Narvekar said the State has wiped out the revenue deficit and has registered an initial surplus for the first time last fiscal in the history of Goa.

''This is really a good news for the State which is now experiencing political turmoil,'' Mr Narvekar quipped.

The revenue deficit which was the highest at Rs 228.50 crore in 2001-02, had gradually been reduced to Rs 21.86 crore in 2005-06.

It was Rs 167.04 crore in 2002-03, Rs 140.47 crore in 2003-04 and Rs 123.18 crore in 2004-05.

He complimented the officials for putting in efforts to make the State revenue surplus for the first time.

Goa has earned the highest of Rs 844 crore revenue from Sales Tax/VAT, followed by Rs 682.45 crore from power, Rs 138.02 crore from taxes on goods and passengers and Rs 115.92 crore on stamps and registration.

UNI