Goa’s Rs 20,485 cr debt burden worrisome: Cong

Goa is presently under Rs 20,485 crore debt trap, with the state all set to face financial emergency by 2022 if no economic discipline is enforced.
The Congress party on Sunday demanded that Chief Minister Pramod Sawant come out with a White Paper on the state public finances.
The government has crossed all limits as regards the state borrowings and the debt faced by the state has moved from Rs 7,000 crore, during the tenure of the Digambar Kamat government.
He also revealed that per capita debt of the state is Rs 1.5 lakh, and every Goan would have been shouldering much more than this amount.
Reserve Bank of India’s report on state finances, which pegged Goa’s fiscal deficit at an alarming 5.3 percent for the year 2018-19, has exposed the hollowness in the state’s budgetary exercise, the GPCC president said.

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