PANJIM: The State government’s borrowing went up by almost Rs 300 crore between March-June 2014, with total liabilities including market loans and other borrowings reaching Rs 9302 crore as on June 30, the Chief Minister Manohar Parrikar told the State Legislative Assembly on Thursday. The borrowing till the close of the financial year (till March) was Rs 9129 crore. At a jump rate of Rs 1000 crore a year, Goa is looking at debt burden of Rs 10,000 crore by the next financial year.
The National Social Security Fund of the State dropped to Rs 2927 crore from Rs 3010 crore in 2012.
As on March 2014, the government claims to have spent a whopping Rs 9900 crore on development of the State.
As per the information tabled in the House, the borrowings of the State when BJP-led government took over in March 2012 was Rs 6872 crore, which went up to Rs 8070 crore by March 2013, a jump of nearly Rs 1,198 crore. The jump was basically in market loan which went up to Rs 995 crore.
Loan amount from National Bank for Agriculture and Rural Development (NBARD) also shot up to Rs 82 crore by the financial year ending March 2014 the borrowing went to Rs 9032 crore, a jump of another Rs 1000 crore.
In general, from March 2014 to June 2014, government’s market loan stood up to Rs 233 crore while NSSF was Rs 2 crore , NBARD it was Rs 5 crore and the central loan was up to Rs 65 crore.
Chief Minister had earlier last week informed the House that State will not go into a debt trap as for the financial year the expected growth in revenue would touch Rs 9600 crore, without considering revenue from mining sector.
