Goa Economy... an interesting bird's eye view (2023)

[Frederick Noronha]

QUOTE Committed expenditure: Committed expenditure of a state typically includes expenditure on payment of salaries, pensions, and interest. A larger proportion of budget allocated for committed expenditure items limits the state’s flexibility to decide on other expenditure priorities such as capital outlay.  In 2023-24, Goa is estimated to spend Rs 9,369 crore on committed expenditure which is 46% of its estimated revenue receipts.  This comprises spending on salaries (25% of revenue receipts), pension (11%), and interest payments (10%)....

Policy Highlights

• Digital Payment:  Digital payment methods will be adopted by all government departments and corporations to eliminate cash handling.

• Mukhyamantri Saral Pagar Yojana:   This scheme will provide government employees instant wages anytime in the month proportional to the number of days worked.

• Tax changes:  The state will rationalise VAT on natural gas and base it on consumption.  The state will introduce a ‘green cess’ on non-Goan vehicles entering Goa.  The excise duty on high end liquor will be reduced, and the excise duty on Indian Made Foreign Liquor (IMFL) will be increased marginally.

• Deen Dayal Upadhyay Grameen Kaushalya Yojana:  Under this scheme candidates will receive training in various professions and courses.

• New and renewable energy:  A Green Goa Policy, 2023 will be formulated, under which incremental power will be procured from green sources without any additional financial burden.

UNQUOTE

https://prsindia.org/budgets/states/goa-budget-analysis-2023-24

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