Indirectly, striping Goa chief minister Pramod Sawant’s directives for enhancing borrowing through auction of sovereign bonds, Goa Finance Secretary Daulat Hawaldar stated that Salaries of state govt officials were delayed as centre delayed GST compensation payments for last 3 months. Tax, GSDP ratio of Goa was at lowest and sustainability of debit was big challenge for Goans.
Addressing media workshop organised by the Goa union of Journalist, Goa Finance Secretary Daulat Hawaldar said that salaries of govt officials were recently delayed because the union government delayed GST compensation payments for October , November & December 2019. Hawaldar, said that since switching over to GST regime, the state government reported 30% deficit tax collecting in 1st year, 21% deficiency was reported 2nd year, while around 20% revenue shortage was reported in the 3rd year. He said that since adoption of GST mechanism, 1st time every Goa achieved GST collection target in January 2020.
Hawaldar maintained that Tax, GSDP ratio of Goa was at lowest, while revenue collection through excise was not going down due high liquor sale in the state. He said that the outstanding debt was increasing due to infrastructure development in the state and sustainability of debit was big challenge for Goans. He maintained that there was no debit in agriculture sector. He asserted that the state government was not gaining GST contribution through IT sector.
Hawaldar, said that the 15th Indian finance commission, is sympathetic that Goa should get help. He maintained that although Mining and tourism contributes 15% of GSDP, while considering future of Goa’s economy the vision has to go beyond mining and tourism sector. He said that Art and culture department excluding IFFI & serendipity, should start contributing to the GST.
He maintained that public Infra including roads, bridges, water supply, power supply, sewage lines developed through borrowing funds was at tremendously high level compared to national average.