Parsekar’s first budget has fiscal deficit of Rs 1552 cr

PANJIM: Chief Minister Laxmikant Parsekar’s first budget had a fiscal deficit of Rs 1552 crore or 2.99 per cent, which is within FRBM Act of 3 per cent. He, however, managed to mobilise additional resources of Rs 235 crore through tax and non-tax revenue.After presenting the budget Parsekar told the media that the fiscal deficit was estimated at Rs 1552 crore, around 2.99 per cent, which is within FRBM Act of 3 per cent vis-à-vis the 3.19 percent for 2014-15.

By Team Herald

Published: 26 March 2015

The budget plan size was higher than last financial year by 41.05 per cent giving an indication of the heavy stress laid by the government on development, in the run up to the 2017 Assembly elections.

Compared to Parrikar’s plan size of Rs 4389.25 crore, Parsekar’s plan size is Rs 6190.97 crore, an increase of Rs 1801.72 crore. This time, this made sense due to an additional State share of Rs 1054 crore from the Centre, which is around 10 per cent more.

“I am thankful to Prime Minister Narendra Modi, who started a new era of co-operative federalism due to which our share in the divisible pool increased from 0.266 to 0.378 percentage points,” Parsekar said.

He was speaking after presenting the budget of Rs 13,331.44 crore, higher than his predecessor Manohar Parrikar’s budget by 26.48 per cent.