Team Herald
PORVORIM: Goa government’s market borrowing stood at Rs 327.83 crore, in the very first quarter of the financial year 2021-22, as they struggle to tackle the COVID-19 led financial constraints. As on June 30, the State’s total debt is pegged at Rs 20,085 crore, Chief Minister Dr Pramod Sawant informed to the State Legislative Assembly on Thursday.
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He also said that Rs 300 crore worth security stocks were auctioned to raise funds for the current FY, towards development of the State.
The National Bank of Agriculture and Rural Development (NABARD), the largest loan provider to the State, has so far sanctioned Rs 20 crore loans towards various water supply and sewerage projects.
During the last financial year 2020-21, the State’s borrowing was at Rs 3715 crore while grants from central were to the tune of Rs 4,242crore.
On revenue front, from April-June, the State’s GST collection stood at Rs 305 crore. State collected a total of Rs 1079.96 crore through GST, while the Centre compensation due towards the State is to the tune of Rs 1,652 crore.
The Chief Minister was responding to the series of questions tabled by MGP MLA Ramakrishna Dhavalikar and Independent MLA Rohan Khaunte.
Sawant said that the department of Commercial Taxes is actively trying to expand the tax payer base and to plug leakages of revenue by stricter enforcement by way of conducting raids on evaders, enforcement drives, verification of E-way Bills etc.
In yet another question related to VAT on petroleum, Sawant said that the revenue generated from sale of Petroleum products is influenced by increase in consumption, increase in rate of tax and increase in base price.
“As such additional revenue generated on increased rate of taxes on Petroleum Products cannot be quantified,” he said adding that an amount of Rs 2.97 crore VAT on petroleum was collected during last fiscal.
