|
Following is the text of the Statement made by the Finance Minister, Shri P. Chidambaram in the Lok Sabha today on the Budget of the Government of Goa for 2005-06.
“I lay on the table of the House, the Annual Financial Statement of the State of Goa, for the financial year 2005-06.
By virtue of the proclamation issued under article 356 of the Constitution of India on the 4th March, 2005, the powers of the Legislature of the State of Goa are exerciseable by or under the authority of the Parliament. The Statement of estimated receipts and expenditure of the State of Goa for the financial year 2005-06 is accordingly being placed before the House.
REVISED ESTIMATES 2004-05
The Revised Estimates, 2004-05 indicate a reduction of Rs.688.41 crores in receipts under Revenue Account as compared to the Budget Estimates of Rs.2627.11 crores. The main reason for this decrease is lower receipts from power sector due to stoppage of power trading. Similarly, due to non-operation of lotteries during the year, there has been no earning to the State from this sector. However, this reduction have been partially offset by higher than budgeted share in central taxes and grants-in-aid. The revenue expenditure declined by Rs.620.89 crores as compared to the Budget Estimates of Rs.2635.06 crores. The decline is primarily on account of less expenditure on Lotteries. However, there has been an increase in interest payment and in salaries under Non-Plan expenditure on account of merger of Dearness Allowance with basic pay. These changes in receipt and expenditure have resulted in the revenue deficit worsening from Rs.7.95 crores to Rs.75.47 crores.
The receipts on Capital Account in the Revised Estimates registered a decrease of Rs.26.08 crores compared to the Budget Estimates of Rs. 876.36 crores. The decrease is because of lesser amount of debt substituted compared to Budget Estimates. In terms of net loans availed, the amount increased by Rs.116.92 crores. This is mainly because of higher amount of small savings inflow. Capital expenditure under revised estimates 2004-05 indicates a decrease of Rs.222.02 crores as compared to the Budget Estimates of Rs.971.58 crores. However, this is also primarily due to lesser amount of debt substitution by the State. Accretion in Public Account is projected at Rs. 63.55 crores in Revised Estimates compared to the Budget Estimates of Rs.115.55 crores. This is due to repayment of short term deposits to State PSUs and withdrawal from Provident Fund in the Public Account.
Taking into account the net transactions under Consolidated Fund, Contingency Fund and Public Account along with an opening balance of Rs.( –) 13.06 crores, financial year 2004-05 is expected to close with a surplus of Rs.75.74 crores as compared to the Budget Estimates of (-) Rs.8.98 crores.
BUDGET ESTIMATES 2005-06
The Budget Estimates 2005-06 places the Revenue Receipts at Rs.2872.94 crores. The State’s share of Central Taxes, Duties and Grants-in-aid from Government of India add up to Rs.379.49 crores. The Revenue Expenditure is projected at Rs.2914.74 crores, leaving a revenue deficit of Rs.41.79 crores. On the Capital Account, the receipts are estimated at Rs.786.66 crores and expenditure at Rs.751.52 crores. After accounting for transactions in the Public Account and the Opening balance, the overall surplus in 2005-06 is estimated at Rs.104.64 crores.
PLAN OUTLAY
The State Plan Outlay for 2005-06 is estimated at Rs.975.87 crores which is substantially higher than the current year level of Rs.847.50 crores. Among other reasons, the increase in outlay is due to higher allocation to Goa State Infrastructure Development Corporation for creation of infrastructure in health, education and roads and bridges. The increase is also due to hike in allocation in social security and irrigation sectors. Central assistance has been projected at Rs.159.75 crores and State’s own resources at Rs.816.12 crores in 2005-06.
VOTE ON ACCOUNT
While as required, the Annual Financial Statement for the year 2005-06 has been laid before the House and the concerned Demands for Grants are also circulated to the Hon’ble Members alongwith other Budget papers, I am, at this stage, seeking a “Vote on Account” for the first five months of the financial year 2005-06.”
BSC/BY/GN-155/05
|
