PANJIM: Chief Minister Dr Pramod Sawant on Wednesday said that the State revenue saw an 80 per cent drop in the financial year 2019-20.
Addressing media persons, Sawant welcomed Prime Minister Narendra Modi’s special financial package of Rs 20 lakh crore for the nation’s economic revival. “The special package announced by the Prime Minister will give much needed boost to the economy. It will also help Goa in a big way to revive its economic position,” he said.
“State is going through a severe financial crisis and it is not hidden from anyone. The revenue collection last financial year saw almost 80 per cent drop. GST and VAT collection were badly affected,” Sawant added.
“I want to help the needy and those affected due to the lockdown with some financial package, but the State is not in position,” he admitted.
The Chief Minister said that State will soon draft proposals for seeking benefits under the Centre’s special financial package. “We have briefed the Centre in detail about the financial position of the State and have also sought a financial package for revival,” he said.
The State on Tuesday, borrowed Rs 100 crore by selling stock. This is the first borrowing of the financial year 2020-21.
The State government had constituted an Economic Revival Committee and Expenditure Control Committee to guide the government post the pandemic. The Economic Revival Committee in its two reports laid stress on resumption of iron ore mining to boost the economy.
