Friday 05 March 2021

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Economy | Budget

Parrikar claims double growth rate in 1 year


Chief minister Manohar Parrikar is aiming at achieving almost double growth - 12 to 15 per cent - and up to six per cent growth in agriculture sector.

Though his budget speech does not specify in what manner such a quantum jump would be achieved in one year, he is confident of not less than 12 per cent growth rate.

“I am targeting for 15 per cent growth rate”, he said while presenting the budget.

The Gross State Domestic Product (GSDP) at constant prices during 2009-10 was 10.63 per cent. It slipped down to 8.30 per cent in 2010-11.

The agriculture scenario is worst than this. While planning commission has been insisting on a minimum growth rate of four per cent, Goa is showing consistent decline in agro sector.

In 2009-10, the agro growth rate was 3.20, which declined further to 1.77 in 2010-11.

“I promise to the farming community and this august house that that we will strive to target at least six percent growth in agriculture and allied sector during the year”, Parrikar told the House yesterday.

He plans to have interactive sessions with all the concerned and announce further schemes in monsoon session.

He has even made a bold statement to make Goa self-sufficient in vegetable and milk production in four years.

He has presented the budget with a budget size of Rs 9549 crore, with an increase of 19 per cent than last year (Rs 8022 crore).

Similarly, the plan size has been increased by 32.75 per cent, from Rs 3129 crore last year to Rs 4154 crore this year.

According to Parrikar, the marginal revenue deficit of Rs 82.90 crore would reach zero level as the works on planned projects get underway.

He is expecting the resultant investment multiplier of the proposed plan capital outlay (Rs 1921.03 crore) to generate additional revenue of at least 15 per cent in the form of various taxes, fees, charges etc.

“This has not been taken into consideration while preparing the budget”, he pointed out.

The state however would lose its revenue due to certain populist measures announced by the government – Rs 150 crore on slashing petrol price by Rs 11, around Rs 20 crore for freezing LPG cylinder price and Rs 12 crore for abolition of house tax in panchayats and for BPL in municipalities.

His prime thrust however appears to be on VAT to generate revenue. While almost cancelling VAT        on petrol, he has planned generation of around Rs 470 crore through VAT, entertainment tax, entry tax and luxury tax.

Comparatively, additional revenue through excise would be around Rs 50 crore, around Rs 60 crore through registration and stamp duties and Rs 40 crore by increasing licence fee etc on casinos.

Parrikar is also spending almost Rs 150 crore on allowance to housewives, around Rs 80 to 90 crore for increased pension through Dayanand Niradhar Samajik Suraksha Yojana and Rs 30 crore for minimum employment assurance scheme. is now on Telegram & also Youtube. Kindly subscribe for free & remain updated.

Total Comments :3

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Hearty congratulations to our Nayak Manohar parrikar.

Looking at the budget 2012.I am very much sure now ,we will surely achieve at least 13-14% growth rate in upcoming year.

Its great to see that all fields are equally considered in budget.

One more thing i always wanted to suggest.Involve more well educated youth power in govt. activities to improve accuracy in work.

so now goans will have developed state ,we always dreaming about.

Best wishes to BJP and CM manohar parrikar.

Rakesh Raul , Pernem

Did Parsekar, the current health minister, relinquish the BJP state president position yet? At least, I have not heard anything about it in the press. If not, why delay?

The ticket to Cortalim constituency should be given to Alina Saldhana. The BJP should really push for it and try convince her to carry forward Mathany's legacy.

If she is really not interested, then a honorable person from the same constituency should be considered, not some just-lost-outsider or any other political junky guy!

Jagan Kamat , Canada

Congrats Manohar Baab for your growth driven budget.

Your target of 15% Growth ( double digit and double to previous rate ) is appreciated . Also for giving the attention on Agriculture sector.

Your decision of keeping LPG price steady for next 5 yrs and slashing the petrol prices drastically by Rs 11/ltr , will be a hot news for every state.

Wish I was in GOA today to enjoy the petrol prices, but I'm happy that my trip to my hometown will be always cheaper.

I'm looking forward to a highly progressive state GOA , and should set an example to other states ....

My best wishes to you Manohar baab ......

Mahesh Thali , Thane