Team Herald
PORVORIM: Laying emphasis on employment generation, Chief Minister Manohar Parrikar presented a revenue surplus budget projecting surplus of Rs 144.65 cr.
It is not really known whether the chief minister has taken into account the Supreme Court ban on mining which will come into force from March 16.
Against the run of play, Chief Minister Manohar Parrikar arrived today from the Mumbai hospital to present the budget himself after earlier authorising PWD Minister Sudin Dhavalikar to table the budget.
The CM’s budget statement consisted mainly of Revenue, expenditure and dept and has no new schemes or taxes announced.
“My health status has prevented me from preparing a detailed budget speech outlining the policies, achievement and new schemes of the government. However, by the end of financial year 2017-18, I would be implementing in parts the new schemes as well as majors for revenue generation which involves rationalisation of creations of fees, taxes and duties so they get impended by the beginning of the next year,” Parrikar said in his short speech.
In order to discharge responsibility on government expenditure including on-going revenue and capital schemes pending passage of the full budget a vote on account was taken for five months.
Increase in Budget outlay
As per the statement issued by the government, the total gross budgetary expenditure (including that on power purchase) is Rs 17,123.28 cr as against Rs 16,027.01 cr (BE) for the year 2017-18, representing an increase of 6.64 per cent.
The total estimated expenditure on revenue account is Rs 11795.40 cr while the expenditure on capital account is Rs 4216.26 cr.
There is an increase in the allocation for capital account expenditure by 10.70 per cent as compared to the revised estimate for the last year, which stands at Rs 3808.72 cr.
The estimated receipts (including that on power sales) for the year 2018-19 is Rs 13664.95 cr as against Rs 12576.88 cr (BE) for the year 2017-18 showing an increase of 8.65 per cent.
The State’s own tax revenue, including State share of Central taxes, is Rs 8257.25 cr as against Rs 7351.32 cr estimated last year.
The state share of Central taxes for the year 2018-19 is Rs 2979 cr as against Rs 2544 cr (RE) for the last year, representing an increase of 17 per cent.
The non-tax revenue is expected to be Rs 2869.33 cr. Overall for the year 2018-19 the annual financial statement indicates a revenue surplus for the fifth year in succession estimated at Rs 144.65 cr.
During the year, public debt receipts are estimated at Rs 1769.22 cr resulting in a fiscal deficit of Rs 763.68 cr (nominal). The primary deficit is estimated at Rs (-) 608.46 cr.
As per Economic Survey 2017-18, tabled in the Assembly the GSDP for the year 2017-18 is provisionally estimated to be Rs 70267 cr. In this year the GSDP is estimated at Rs 77171 cr, which reveals a growth of around 10 per cent.
The total public debt (progressive) is estimated at Rs 13937.37 cr, which represents a public debt to GSDP ratio of 18.06
Stress on Education
The government has laid stress on generating local employment for which total provisions of Rs 548.89 cr in the sectors of industry, labour and employment and information technology.
In the total education sector, including medical education, a total of Rs 2445 cr have been made.
