TEAM HERAD
PANJIM: Goa Governor Bharat Vir Wanchoo accused the UPA-II of failing to rescue the state after the financial crisis due to mining ban, even as the Centre was the biggest beneficiary. The Governor’s address, which outlines plans and achievements of the incumbent BJP government, pinned hopes on the new Government at the Centre post elections for monetary relief.
In his address to the Goa Legislative Assembly on the first day of the budget session, Wanchoo reiterated that the State government has done well on various fiscal parameters regardless of losses it is presently facing. The growth rate of GSDP for year 2012-13 is estimated to be at 8.47 percent at constant prices of 2004-05. He went on to say that during the mining boom of 2010-11, the GSDP grew by 16.89 percent while in 2013-14 financial year, it is expected to show a growth of around 8 to 10 percent even as mining activity is at a standstill since September 2012.
He added that despite loss of several crores of rupees due to ban on mining operations, the government had done astute financial management. The mining ban by the Supreme Court, he remarked, had affected the livelihood of 1.5 lakh mining-dependent people directly or indirectly.
“The loss to the State economy is estimated to be around 20 percent of GSDP. In absolute terms it works out to over Rs 8,700 crore at current prices of 2013-14; whereas the state exchequer has suffered direct and indirect revenue loss of around Rs 2,000 crore as on date,” he explained.
He applauded the government for running welfare schemes and ambitious infrastructure projects notwithstanding the fiscal strain, such as Griha Aadhar Scheme, Dayanand Social Security Scheme for senior citizens, widows and differently abled persons; while more than 13,500 girls have benefited under the Laadli Laxmi Scheme,” he mentioned.
The Governor stated that the banking sector was facing tremendous stress on account of the advances made to the mining sector, which had become non-performing assets. “My government is holding discussions with banks to work out a
relief package for the mining-affected borrowers,”
he added.
