Financial status of Goa is sound: government

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Panaji, Jul 16 (UNI) Debunking reports in a section of the media, the Goa government has asserted that its financial position is ''sound and stable'' as envisaged in the Budget Estimate 2008-09.

The government has ruled out any proposal with the Finance Department to raise the limit of contingency fund from the existing Rs 30 crore.

The Government had in March last obtained vote on account budget for five months from April this year. The entire budget will be passed in the coming budget session next month and hence there is no reason for enhancing the contingency fund limit.

Though the Government had raised the contingency fund limit from Rs 30 crore to Rs 200 crore in January through an ordinance, the same has been regularized in March by passing supplementary demand for grants.

The ordinance had lapsed and the contingency limit has been restored to Rs 30 crore. The fund is utilised only when there is a sudden requirement of funds and no provision has been made for the purpose in the budget estimate like Court Awards etc.

As of now, out of total contingency fund limit of Rs 30 crore, the Finance Department has sanctioned Rs 5.65 crore only, which will be regularised in the Supplementary Demand for Grants 2008-09 next month.

In this connection, the government stated that it had achieved revenue surplus of Rs 166 crore, which is more than the revenue surplus of Rs 141.45 crore achieved in the previous fiscal.

Hence, it is once again assured that the financial status of the State of Goa is quite stable and progressing further, the government added.


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