Financial
Goa

Report 2016 on Finances of Goa State

Date on which Report Tabled:
Mon 08 Aug, 2016
Date of sending the report to Government
Government Type
State
Sector Finance

Overview

The Audit Report on State Finances highlighted that the rate of growth of revenue receipts increased from 10.35 per cent in 2013-14 to 19.21 per cent in 2014-15. This was due to net effect of increase in non-tax revenue by Rs. 664 crore (39.95 per cent), tax revenue by Rs. 314 crore (8.77 per cent), grants from the GoI Rs. 209 crore (58.54 per cent), and share of Union taxes and duties by Rs. 52 crore (6.12 per cent). During the year, the share of revenue receipts in total receipts (Rs. 9,023 crore) of the State was 85 per cent, while capital receipts accounted for 14 per cent of the total receipts. Public Account receipts (net) contributed the remaining one per cent. Of the total expenditure of Rs. 8647 crore during 2014-15, revenue expenditure constituted 85.69 per cent. Nearly 45 per cent of revenue receipts were spent on committed expenditure such as salaries and wages, pension, interest and subsidies. The State Government also spent 13.76 per cent of Revenue expenditure on financial assistance to local bodies. The percentage of developmental expenditure to total expenditure decreased from 70.91 per cent in 2013-14 to 69.01 per cent in 2014-15. Funds aggregating Rs. 697 crore were locked up in 87 incomplete projects as at the end of the year. During the year, a fiscal liability as a percentage of GSDP was 26.35 per cent against 25.96 per cent in the previous year. This was almost in line with the target fixed (27 per cent) in the Goa FRBM (amendment) Act, 2014, and lower than the projections made in ThFC (29.10 per cent).In 23 cases involving Rs. 136.50 crore advances from the contingency fund were drawn payment for salaries of staff/implementation of Centrally Sponsored Schemes etc. which are considered foreseeable. Out of 10,436 UCs amounting to Rs. 1,449.05 crore pending as on 30 June 2015, 5,072 UCs (49 per cent) involving Rs. 1,028.58 crore (71 per cent) were pending for periods ranging from one to five years while 5,364 UCs involving Rs. 420.47 crore were pending for more than five years.

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