Goa to table FRBM Bill

Concerned over increasing revenue deficit, the Goa government may table a Fiscal Responsibility and Budget Management (FRBM) Bill in the next assembly session.

The Cabinet gave its nod for the introduction of the Bill. Goa CM Pratapsingh Rane admitted that the state's fiscal deficit is pegged at 5 per cent, which is much more than the expected 3 per cent.

"The state's fiscal deficit is too high and we intend to bring it down to zero by 2009. And we hope to achieve the target within the stipulated time," Rane said, addressing media persons after the Cabinet meeting.

Bringing the revenue deficit to a reasonable level is high on the agenda of the state government, ever since the 12th Finance Commission expressed concern on the matter.