Goa State Budget Presented for 2016-17

Goa Chief Minister Laxmikant Parsekar who also holds the finance ministry presented a 158 crore rupees revenue surplus budget in the State assembly. The total size of the budget for 2016-17 is 14694 crore rupees.

Flashlight on revenue & expenditure

• The budget figure of 14694 crores is 9% higher compared to the previous year
• The State achieved highest per capita income of 257490 rupees in the country during 2015-16.
• The State GDP achieved 10 percent growth rate with a GSDP of 60893 crore rupees.
• The fiscal deficit was kept at 2.4 percent, well below the limit of 3 percent

Important schemes & announcements

• VAT on Aviation Turbine Fuel (ATF) was increased to 18 percent from 5 percent & VAT on petrol was increased to 22 percent from 15 percent
• VAT as well as tax on entry of goods in respect of regasified liquefied natural gas used by the industry was increased from the existing 20 percent to 30 percent
• Coconut trees will now be brought under the agriculture department with a provision for mandatory permission for cutting any coconut A full-fledged Coconut Development Board would be put in place headed by Coconut Farmer or an expert.
• The government also announced the enhancement of support price for Coconut increased from 8 rupees to 10 rupees per coconut
• Goa Staff Selection Commission will be constituted for selection of candidates for   appointments to the subordinate services. The state government will increase the age limit for government job aspirants from 40 to 45 years
• Two Offices of Deputy Collector will be established at Sattari and Sanguem
• Single window system will be created by integrating all services related to land matters. Digital Locker Integration will be created in line with Digital India Initiative of the Union Government
• IFFI-Secretariat will be developed on Public Private Partnership (PPP) basis with a token provision of amount of 1 crore rupees.
• With a seed capital funding of up to 50 Lakh rupees for start-up, the government will target 100 such start ups and invest through Investment Promotion Board (IPB).
• The luxury tax on hotel stay is reduced from 60 percent to 25 percent during off season between June and September.
• Entry fee for Casinos has been enhanced from of 700 to 1000 rupees per person.
• Necessary amendments will be made to remove Feni from ‘Liquor’ category and place it as a Heritage drink. The state will reduce 5 percent of VAT on Feni to support local producers.