The Chief Minister (CM) of Goa Pramod Sawant, who also holds the finance portfolio of the state, presented Rs 26,850.56 crore budget for Financial Year 2024-25 (FY25) with no additional taxes at the Goa State Legislative Assembly Complex in Porvorim, Bardez in Goa. It was his 5th budget.
- The Gross State Domestic Product (GSDP) for FY25 is projected at Rs 1,21,309.02 crore at current prices with a growth rate of 13.87% as compared to FY24 and a Per Capita Income of Rs 7.64 lakh
- This budget’s focus is on improving infrastructure to boost tourism, IT (Information Technology) and employment.
Financial Indicators:
i.Total estimated receipts/income for the FY25 is Rs 26,465.02 crores
ii.The anticipated expenditure for FY25 is Rs 26,850.56 crores.
iii.The projected revenue surplus for FY25 is Rs 1704.19 crores.
- In FY 2022-23, Goa has achieved a revenue surplus of Rs. 2,399.21 crores which is the first time in the history of this State that it achieved such a large revenue surplus.
iv.The Fiscal Deficit for FY25 is projected to be Rs 3,149.46 crores, which is well within the limits set under the Fiscal Responsibility and Budget Management (FRBM) Act, 2003.
v.Expected increase in financial assistance from Centre to Rs 1,506.56 crore in FY25 from Rs 750 crore in FY24.
Highlights:
i.30% of the budget in 13 departments allocated for women of the State.
ii.Highest allocation of Rs 3,099 crores was made for the power department.
- It is followed by Rs 1,226 crores for the Home Department.
iii.Provision of Rs 43.07 crore for Planning and Statistics, Rs 10 crore for Data Analysis Centre.
iv.Rs 10.50 crore for Swayampurna Goa Programme, Rs 25 lakh for Goa CSR Authority.
v.The Chief Minister’s Fellowship Program (CMFP) has increased its number to 20 fellows, with a provision of Rs 93 lakh.
vi.Rs 82 lakh proposed for Goa Institute of Future Transformation.
vii.Rs 10 crore for renovation of Goa’s first Chief Minister’s memorial.
viii.Rs 156.99 crores allocated for Ports and River Navigation.
ix.Rs 2,121.86 crore for health department, with Goa Medical College (GMC) getting Rs 1,071 crore.
x.10.75% increase in Public Works Department (PWD) provision, reaching Rs 2,976 crore.
xi.Rs 10 crore provision for the Exposition of Saint Francis Xavier (SFX) at Old Goa.
xii.Rs 20 crore provision for temple construction and restoration.
xiii.Proposed one-time amnesty scheme for illegally operated residential establishments.
xiv.Regulation planned for unrenewed leave and licence agreements to prevent revenue leakage.
Other Allocations:
i.New Road Improvement & Safety Project gets provision of Rs 50 crore
ii.Industries dept allocated Rs. 74Cr
iii.Information and technology department allocated Rs 154Cr
iv.Agriculture department gets Rs 259.30Cr
v.Women & child welfare department gets Rs 406.70Cr
vi.Environment & climate change gets budget provision of Rs 20Cr
Recent Related News:
i.The Goa Shipyard Limited (GSL), a Mini Ratna Central Public Sector Undertaking
(CPSU), under the Ministry of Defence(MoD), signed a Memorandum of Understanding (MoU) with the BITS Goa Innovation, Incubation and Entrepreneurship Society (BGIIES, Goa) to drive innovation and progress in the shipbuilding and defence industry using cutting-edge Artificial Intelligence (AI) technologies.
ii.The Geographical Indications Registry, operating under the Ministry of Commerce and Industry in Chennai, awarded geographical indication (GI) tag to Goa Cashew (Kaju Or Caju). The unique identity and taste of Goa cashews result from the overall climatological impact of Goa and traditional farming practices followed by Goans.It is the 10th product of the state to get the coveted GI tag.
About Goa:
Chief Minister– Pramod Sawant
Governor– P. S. Sreedharan Pillai
National Park– Mollem National Park
Wildlife Sanctuary – Bhagwan Mahavir Wildlife Sanctuary, Cotigao Wildlife Sanctuary
