(MENAFN- NewsBytes)
Back from hospital, Goa CM Manohar Parrikar presents Budget
22 Feb 2018
Goa CM Manohar Parrikar presented the Budget, merely hours after being discharged from the hospital. He was rushed to the hospital on February 15 for inflamed pancreas. He underwent treatment at Mumbai's Lilavati hospital.
Owing to his ill-health, the session was curtailed to just four days.
The assembly passed the vote-on-account budget for five months; the full-fledged budget is scheduled for the monsoon session.
What did Parrikar say in his speech?
Fact
During his brief address, Parrikar thanked everyone for their prayers at "various temples, churches, mosques and in other way." He asserted that "for complete recovery," doctors have asked him to take certain precautions. He, however, promised to "discharge his regular duties and obligations" as CM.
What about the Budget?
Details
Parrikar apologized for not being able to present an elaborate budget.
He proposed a budget of Rs. 17,123cr, an increase of 6.84% from last year.
As expected, employment generation was the budget's main focus, with Rs. 548cr being allocated to industry, labor, employment and information and technology.
The education sector also received a major bonus, with a provision of Rs. 2,445cr.
Meanwhile, what did the Economic Survey indicate?
Economic Survey
The Economic Survey released earlier indicated that Goa's public debt, majorly attributed to central and market loans, is an issue of concern.
The survey elaborated that in 2016-17, it was Rs. 11,344cr, which will increase to Rs. 13,203.4cr in 2017-18.
However, though debt is increasing, the debt to GSDP ratio has been on the decline from 25.21% in 2016 to 23.88% in 2018.
Separately, what was the industry expecting from the state government?
Industry expectations
Further, industry leaders expected government to clarify its position on mining industry, once the highest contributor to state's GDP. Presently, it is suffering due to suspensions and high taxes.
Goa Chamber of Commerce and Industry (GCCI) stated that 50,000 jobs can be created by attracting investment worth Rs. 25,000cr, if tax exemptions are offered.
Confederation of Indian Industries (CII) also suggested creating tourism zones.
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