Panaji: The Goa government has not borrowed a single rupee through open market borrowings in the current financial year so far, while it has repaid Rs 1,103 crore towards the principal and interest on its debt from its own revenue resources, Chief Minister Pramod Sawant said in the Goa Legislative Assembly on Monday.
Sawant made the statement while responding to a Calling Attention Motion moved by Independent MLA Aleixo Reginaldo Lourenco during the ongoing monsoon session of the Goa Legislative Assembly.
“As of August 31, 2026, the State Government has not borrowed even a single rupee through open market borrowings, indicating robust revenue mobilisation and debt management,” Sawant said.
He said the government had repaid Rs 1,103 crore towards the principal and interest components of its debt from its own revenue resources during the current financial year.
According to the Chief Minister, these figures indicate that Goa has moved towards strong fiscal consolidation by adopting sound fiscal management and debt sustainability practices.
The state’s fiscal performance has also received national recognition, with Goa ranking second among major states in the NITI Aayog Fiscal Health Index 2026, improving from sixth position during the 2020-23 period, he said.
Sawant also said Goa had been recognised as a “Strong Performer” in the Public Financial Management Index published by the National Institute of Financial Management.
The state has maintained a revenue surplus for five consecutive financial years after the COVID-19 pandemic, while its fiscal deficit stood at 1.67 per cent in 2025-26, well within the three per cent benchmark prescribed under the Fiscal Responsibility and Budget Management (FRBM) framework, he said.
The Chief Minister said Goa’s debt management had also shown improvement, with the debt-to-GDP ratio declining from 34.60 per cent in 2021 to around 26 per cent in 2025-26.
The government is also focusing on improving the quality of expenditure by increasing capital investment, Sawant said.
Capital expenditure rose to Rs 4,878 crore in 2025-26, accounting for 19.39 per cent of the state’s total expenditure, he said.
Goa also availed itself of Rs 2,078 crore from the Centre as Special Assistance for Capital Investment during 2025-26, the highest such assistance received by the state, according to Sawant.
He attributed the state’s ability to leverage central assistance to the “Double Engine Sarkar” of the BJP-led governments at the Centre and in Goa.
The Chief Minister said the government’s fiscal management measures were aimed at maintaining fiscal discipline while ensuring higher investments in infrastructure and development.
