Team Herald
PORVORIM: Chief Minister Manohar Parrikar on Monday told the House that the State per capita income stands at Rs 4.25 lakh, while the per capita debt is Rs 81,764 by November end, which is only 19.23 per cent of the gross per capita income and well within the norms set by the Union Ministry of Finance. Informing the State Legislative assembly that the State borrowing for the current financial year is Rs 1076.44 cr, Parrikar assures that the figures won’t cross Rs 1300 cr mark by the end of March, 2018.
Parrikar said that considering the estimated GDP for the year 2016-17 to be Rs 64,443 crore, the per capita income stands at Rs 4,25,084 and the per capital debt is Rs 81,764.
“During the financial year 2017-18, the Union Ministry of Finance has stipulated and prescribed the net borrowing ceiling at Rs 2102 crore, which is three per cent of the projected GDP,” he said replying during the calling attention motion.
Parrikar, who also holds Finance portfolio, said that from April till November 30, the total borrowings taken by the State government is Rs 1076.44 crore, while the repayments of the principal amounts of the earlier loans taken is Rs 365.36 crore. “Therefore the net increase is Rs 711.08 crore,” he stated.
“Thus the total public debt as on November 30, stands at Rs 13,106.50 crore,” Parrikar added.
Chiief Minister further said that considering the net borrowing for these eight months is Rs 711.08 cr, it leave us with Rs 1390.92 cr more to borrow. “I assure that we will not need to borrow such huge quantum during the remainder of this financial year and that it will be curtailed to meet the requirements of the capital expenditure only, which is already Rs 1640 crore,” he said.
Parrikar said that the State borrowing for the year will not cross Rs 1200-1300 crore. “The spending on capital expenditure will cross Rs 2000 crore by end of the financial year,” he said.
Parrikar said that 55 per cent of the budget allocation has already been spent by November end.
“Government is committed to ensure the holistic, socio-economic and infrastructural development of the State and at the same time keep the fiscal partners under control,” Chief Minister assured.
