Goa's financial condition is sound as the state borrowings are within permissible limits, Goa Chief Minister Manohar Parrikar told the Legislative Assembly today.
"State's borrowings are not exceeding permissible limits. Goa's financial condition is sound," Parrikar said.
He said the per capita income in Goa stood at Rs 4.25 lakh and the per capita debt at Rs 81,764, "which is 19.23 per cent of the gross per capita income".
"This is well within the permissible norms set by Union Finance ministry," Parrikar told the Lower House.
The chief minister said the borrowing by the state for the current fiscal has touched Rs 1076.44 crore and it won't cross a mark of Rs 1,300 crore by March 2018-end.
He was responding to the Calling Attention motion moved by BJP MLA Nilesh Cabral expressing apprehensions over the financial health of Goa.
"During financial year 2017-18, Union Finance ministry stipulated the net borrowing ceiling to three per cent of the projected GDP, which is Rs 2102 crore," the CM said.
He said the total borrowings by the state government from April 1 to November 30 stood at Rs 1076.44 crore while the repayments of the principal amounts of earlier loans taken is Rs 365.36 crore.
He said a total of 55 per cent of the total budget allocation has already been spent by November end this year.
"Government is committed to ensure the holistic, socio-economic and infrastructural development of the state and at the same time keep fiscal parameters under control," Parrikar added.
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