For third successive year State projects revenue surplus Budget; For 2019-20 revenue surplus is pegged at Rs 455.20 crore;
CM to seek vote on account for five months for a figure of Rs 8145 cr; No tax proposals, schemes, both will be presented later
PORVORIM: Despite the State economy being on a downward trend, due to the ban on mining operations and a drop in tourism footfalls, Chief Minister Manohar Parrikar on Tuesday presented a revenue surplus budget of Rs 455.10 cr.
Parrikar’s short speech, which started at 2.55 pm, ended in just seven minutes at 3.02 pm. On Thursday, the CM will seek a vote on account for five months, the last day of the session.
The CM said that the government has continued to lay stress and thrust on agriculture, education, health, information technology, employment, infrastructure and the overall sustainable economic development of the State.
Parrikar’s budget has a total gross budgetary expenditure (including that on power purchase) of Rs 19,548.59 cr as against Rs 17,123.28 cr for the year 2018-19 representing an increase of 14.16 per cent over the last year.
The total revenue expenditure on the Revenue Account is Rs 13,308.26 cr while the expenditure on Capital Account is Rs 4987.45 cr.
There is an increase in allocation for Capital Account expenditure by 18.29 per cent, as compared to the budget estimates for the last year, which was Rs 4216.25 cr.
The estimated receipts (including that on power sales) for the year 2019-20 is Rs 16035.23 cr as against
Rs 13,664.95 cr estimated for the year 2018-19 showing an increase of 17.35 per cent.
The State’s own tax revenue, including State share in Central taxes is estimated to be Rs 9039.19 cr as against Rs 8267.25 cr estimated for the year 2018-19. The State share of Central taxes for the year 2019-20 is estimated at Rs 3336.47 cr as against Rs 2979.00 cr estimated for the last year, representing an increase of 12%.
The non-tax revenue is expected to be Rs 3250.91 cr as against Rs 2869.33 cr for the year 2018-19. Overall, for the year 2019-20, the annual financial statement, indicates a Revenue surplus since many years in succession. The Revenue surplus is estimated at Rs 455.10 cr.
During the year, the public debt receipts are estimated at Rs 2432.88 cr, resulting in a fiscal deficit of Rs 1418.65 cr (nominal 1.67%). The primary deficit is estimated at Rs 2930.97 cr.
Finance Secretary Daulat Hawaldar, interacting with the media after the CM tabled the Budget, said that in order to discharge the responsibility on government expenditure, including on-going revenue and capital schemes, pending passage of the full budget, a vote on account would be taken for the first five months. The figure for the vote on account is Rs 8145 cr, he said.
Hawaldar said that the Fiscal deficit is 1.67% which is well within the limits of 3%. The Finance Secretary said that the budget does not have any tax proposals or new scheme which will come in the course of time.
Will serve Goa with sincerity, integrity, dedication until my last breath: CM
In a seven-minute speech, Chief Minister Manohar Parrikar did not fail to take a dig at his detractors saying Goa has given him much and he will serve the State until his last breath.
“Goa and Goemkarponn has given me a lot… Love, affection, honour, and countless blessings … I promise that I will serve Goa with sincerity, integrity, dedication until my last breath,” he said.
Further, he said, “Present circumstances have prevented me from delivering a detailed budget speech, but there is a josh, that is too high…. Very high and I am in hosh …. Full in hosh.”
Digital budget has everyone confused
Chief Minister Manohar Parrikar presented a paperless budget in the Assembly on Wednesday.
However, while the Opposition was all at sea when asked for reaction, scribes too had a difficult time. Journos were presented with a digital document loaded in an I-ball tab and it was difficult to transfer the files to computers for editing.
Finance Secretary Daulat Hawaldar said the CM wants the State to move towards digitisation and hence he has taken this initiative.
IN FACTS AND FIGURES
* Total expenditure is Rs 19,548.59 cr, an increase of 14.16%
* Revenue account is Rs 13,308.26 cr while expenditure on Capital account is Rs 4987.45 cr
* Increase in allocation for Capital account expenditure by 18.29%
* Estimated receipts are Rs 16035.23 cr as against Rs 13,664.95 cr estimated for 2018-19 showing an increase of 17.35%
* State’s own tax revenue, including State share in Central taxes is estimated to be Rs 9039.19 cr as against Rs 8267.25 cr estimated for
* State share of Central taxes for 2019-20 is estimated at Rs 3336.47 cr as against Rs 2979.00 cr estimated for last year, representing an
increase of 12%
* The non-tax revenue is expected to be Rs 3250.91 cr as against
Rs 2869.33 cr for 2018-19.
* During the year, public debt receipts are estimated at Rs 2432.88 cr resulting in a fiscal deficit of Rs 1418.65 cr (nominal)
* Primary deficit is estimated at
* Fiscal deficit is 1.67%