Team Herald
PORVORIM: The Goa Legislative Assembly passed two government Bills – The Goa Goods and Services Tax (Amendment) Bill, 2022 and The Goa Fiscal Responsibility and Budget Management (Amendment) Bill, 2022 amid ruckus over the coal issue.
The Opposition benches protesting the government’s failure to assure on the floor of the House to scrap the three linear projects during private members’ resolution, rushed to the well of the House prompting the Speaker to adjourn the session to Monday.
As such, the two Bills which were tabled were passed without discussion. While the government made various amendments to the GST Bill, it stated that it does not involve any recurring or non-recurring expenditure from the Consolidated Fund of the State.
The State, besides also tabled the Bill to raise the borrowing ceiling stating that on recommendation of the 15th Finance Commission of the Ministry of Finance, the normal net borrowing ceiling for the State is fixed at 4 percent of Gross State Domestic Product (GSDP) for the financial year 2022-23. While 3.5 percent is unconditional, the remaining 0.5 percent is allowed for certain performance criteria subject to the amendment to the State Fiscal Responsibility and Budget Management Act.
