The Bharatiya Janata Party completes four years its rule or call it “misrule” in the State on March 9, this month. While the development agenda has been pushed, the brand of anti people development has left a lot to be desired. It has been a forgetful term for the party, which had promised “parivartan”, as its handling of economy has gone totally haywire.
Agreed, the BJP has been able to do what the Congress hasn’t been ever even with their governments at the Centre, getting the funding from the Delhi for development projects.
The State government has been successful in this term to get Rs 10,000 cr only for roads, highways and bridges from the Ministry of Roads, Transport and Highways.
Yes, this funding includes Rs 3250 cr for the new Zuari bridge, besides Talpona Galgibagh bridges and widening of National Highways 17 and NH4.
But this has been also a term when the government has gone on a borrowing spree, which has been done majorly to fund the schemes or doles announced by the BJP government.
In the last four years the BJP-led government has taken a total borrowing of Rs 4,972 crore.
Out of this nearly Rs 5,000 crore borrowings the government has taken, it has spent Rs 1052 crore on social security schemes and Rs 3761 crore on infrastructure.
Contrast this with what the Congress government had borrowed in 2011-12, in the last year of its term. A mere Rs 100.95 crore.
When the BJP came to power it first borrowed Rs 1203.23 cr in 2012-13, Rs 1296.62 cr in 2013-14, Rs 1267.36 in 2014-15 and Rs 1105.52 in 2014-15 (up to December 31).
The loans taken were from the open market, LIC, NABARD, NCDC, PFC, HUDCO, NSSF, Central loans and other ways and means.
The State has spent Rs 1052 cr on social security schemes like DSS pension, Gruha Aadhar, Ladli Laxmi, etc. In 2012-13 it spent Rs 266.34 cr, in 2013-14 it spent Rs 368.91 cr and in 2014-15 it spent Rs 417.04. On infrastructure the State has spent Rs 3761 cr so far.
Lacking ideas to
generate revenue
Ever since the mining was stopped in 2021 the BJP has felt it difficult to run the government due to financial crisis and why not the mining was contributing around Rs 2000 to the kitty.
But since then, the then IITian Chief Minister Manohar Parrikar or the new teacher Chief Minister, Laxmikant Parsekar have failed to get the economy back on track.
They did make efforts to levy entry tax for non-Goan vehicles, increasing the VAT on petrol (which was once abolished by Parrikar), increase in stamp duty etc but those were just minor efforts and could not overcome the Rs 2000 cr mining deficit.
Figures available with Herald reveal that the State’s tax revenue in 2011-12 before the BJP took over was Rs 3231.60 cr the non-tax revenue was Rs 2313.53 cr.
But in 2012-13 when BJP came to power the tax revenue increased to Rs 3716.87 cr but the non-tax revenue fell drastically to Rs 1832.90 cr.
Similarly, in 2013-14 the tax revenue increased to Rs 4431.00, the non-tax revenue fell to a paltry Rs 1661.55 cr.
In 2014-15 it showed increase in tax revenue to Rs 4796.50 cr, the non-tax for the first time increased to Rs 2325 cr.
The figures show that the government has taxed the citizens heavily and failed on the front to generate non-tax revenues.
U-turns
During this term, the IITian Chief Minister Manohar Parrikar, who has not been promoted as Defence Minister, has acquired a dubious Master in U-turns degree for his about turns on various issues.
Parrikar had promised a casino free state, scrapping of RP, solution to the MOI issue, zero tolerance to corruption but this promises remained only on paper.
Parsekar says state within limits of borrowings
Chief Minister Laxmikant Parsekar, who is also the Finance Minister, said the State has been borrowing within the limits as against the picture projected by the opposition that the government is heading towards a big debt trap.
“It is not that just BJP-led government has been involved in borrowing loans. All the former governments have also borrowed to meet the financial requirements of the State,” Parsekar said.
“We were permitted to borrow an advance of Rs 1,945 crore for the current FY, but between April and December last year we borrowed only Rs 950 crore,” Parsekar said.
He reminded that the State is losing revenue of Rs 1,000 crore annually due to the ban on the mining industry, which has stressed it financially.
“An impression is being created that the government is funding its social security schemes through borrowings (loans). But that is not true. We spent Rs 950 crore on creating infrastructure,” Parsekar said.
According to him, between April and December 2015, Rs 260 crore was disbursed to Goa State Infrastructure Development Corporation, Rs 395 crore to Public Works Department, Rs 83 crore to Water Resources Department, Rs 110 crore to Electricity department, Rs 30 crore to Sewerage corporation, Rs 35 crore to Goa Tourism Development Corporation, Rs 20 crore to Goa State Urban Development Agency and Rs 40 crore to Sports Authority of Goa.
The government also paid Rs 100 crore installment towards the borrowings fetched during earlier financial years,” he added.
“We believe that the borrowings should be used to create capital assets. These assets are for the posterity; it is for next generation,” he said.
The CM said his government spent its revenue collected in the form of taxes on salaries, pensions and to fund social security schemes like Dayanand Social Security Scheme, Griha Adhar, Ladli Lakshmi, etc.
