30 C
Panjim
Monday, March 8, 2021

BJP has made Goa bankrupt, Chief minister must show guts to convene assembly and place facts and figures on state finances- Girish Chodankar

Must read

If women are treated equally, nothing can stop them from breaking the glass ceiling: Social activist Andrea Pereira

  Panaji:From taking care of her family, raising two teenaged kids, looking after family business, running an NGO to working against human trafficking, Santa Cruz-based...

Double murder is shocking, indicates collapse of law and order: Vijai Sardesai

  Fatorda: Goa Forward Party Chief Vijai Sardesai rushed to the site of double murder at Ambaji, Fatorda. Reacting to the incident, Sardesai said “as police...

Double murder at Fatorda, a man and his mother-in-law found murdered at Ambaji

  Fatorda:Two senior citizens including a woman were found murdered at their residence at Ambaji, Fatorda on Monday. Fatorda police said that Minguel Miranda (65) and...

We will make sure that no illegalities takes place in Ribandar: Suvarsha Naik

From the world of fashion designing to politics, Ribandar-based Suvarsha Naik has carved a niche for herself. She is now in the fray for...
- Advertisement -

Panaji – The defective, corrupt and insensitive BJP Government has made Goa completely bankrupt with its mismanagement since assuming power in 2012. The current situation in the State is alarming & Chief Minister Dr. Pramod Sawant should stop adventurism and stop misleading the people charged GPCC president Girish Chodankar.

It is now clear that the gross fiscal deficit to gross state domestic product for 2020-21 is expected to be 5.3 and is the highest amongst all States.

The average for all States and Union Territories is just 2.8 while the primary deficit to GSDP is 3.3 against the national all-State & UT average of 1.1.

Almost 52 percent of our loans will mature after 7 years, against all India average of 45 percent. Unfortunately, BJP Government is on Borrowing Spree increasing the debt on every person in the State stated Girish Chodankar.

Goa’s fiscal deficit is increasing indicating that the state is finding it difficult to strike a balance between its total revenue and expenditure, according to a report published by the RBI on ‘State Finances: A study of Budgets of 2012-21’, published on September 30.

The RBI report reveals a quantum jump in the state’s gross fiscal deficit (GFD) as per cent of the gross state domestic product (GSDP) has risen from 1.5 per cent in 2016-17 to 5.3 per cent in 2018-19.

Despite Government borrowing 100 crores on a weekly basis even long before the pandemic, today irresponsible Chief Minister wants to waive of casino license fees. The government has failed to even take one positive steps to restart mining in last 9 years. The government by violating all rules of GSIDC has borrowed to pay Rs 256 cr illegally to SEZ promoters.

We can’t forget that Goa was on borrowing spree long before pandemic so Goa has higher risk to default on loans and warn government that the burden is going to be passed on us as we are set to form next government in 2022.

Goa govt increased fiscal deficit limit from 3% to 5%. What this means is that govt is not just as admitting there will be a shortage in revenue collection but a massive decline in Goas economy. This situation we had predicted and brought to the notice of Chief Minister through letter dated 25th May, 2020, but CM ignored it.

Bringing such an important amendemnt via ordinance without debate is undermining the State Legislative Assembly. Obviously the pandemic has exposed the weak fiscal policies of the present govt and has turned the state budget on its head. The government must immediately convene a full fledged special assembly session on the budget issue and tell the people of Goa how much they intend to borrow, from which source and for what purpose demanded Girish Chodankar.

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

If women are treated equally, nothing can stop them from breaking the glass ceiling: Social activist Andrea Pereira

  Panaji:From taking care of her family, raising two teenaged kids, looking after family business, running an NGO to working against human trafficking, Santa Cruz-based...

Double murder is shocking, indicates collapse of law and order: Vijai Sardesai

  Fatorda: Goa Forward Party Chief Vijai Sardesai rushed to the site of double murder at Ambaji, Fatorda. Reacting to the incident, Sardesai said “as police...

Double murder at Fatorda, a man and his mother-in-law found murdered at Ambaji

  Fatorda:Two senior citizens including a woman were found murdered at their residence at Ambaji, Fatorda on Monday. Fatorda police said that Minguel Miranda (65) and...

We will make sure that no illegalities takes place in Ribandar: Suvarsha Naik

From the world of fashion designing to politics, Ribandar-based Suvarsha Naik has carved a niche for herself. She is now in the fray for...

COVID19: 48 new cases, no deaths

Panaji: Goa's coronavirus caseload went up by 48 and reached 55,409 on Sunday, a health department official said. The death toll remained  799 as none of...