Panaji, Nov 5: Goa Chief Minister Manohar Parrikar today said the state budget for the financial year 2018-19 is likely to be presented in the month of February next year as against the practice of tabling it in March before the legislative assembly.
Parrikar made this announcement during a press conference held in Panaji at his official residence.
"I am proposing not decided, to get the budget tabled sometime in February so that we can touch the 95 per cent expenditure next financial year (2018-19). This fiscal year we will cross 90 per cent," Parrikar told reporters.
Projecting a sound financial spending during the current fiscal, the chief minister said, the state finance and planning departments are interacting with other departments to ensure that the budgetary provisions made are properly utilised and spent in time rather than rushing during one or two months prior to the ending of financial year, which is a normal tendency.
"One good thing is that this financial year's trend is indicating an extremely healthy and robust spending on infrastructure and capital items," he said.
Parrikar said that normally by September month the spending are around 26-28 per cent, which has been a trend including last fiscal.
"This is basically due to two reasons. First is that the first six-months don't result into adequate financial inputs because budget is for 12 months but around 40-42 per cent of the revenue is received during the first six month.
Around 56-58 per cent comes in the second half of the year," he said.
"Obviously the spending also falls on that trend. Due to rains and other issues, the spending gets restricted to around 28 months of the budget expenditure in the six month," the chief minister explained.
"I am very happy and quite contended that this year we could cross 40 per cent in terms of spending during the first six months. In fact upto October the figure is over 48 per cent, indicating around 90 per cent of the achievement of the budget by end of March 31," he said.
"If this happens, it will be highest in last 10-15 years," Parrikar added.
He said around 25 per cent of the expenditure this time was spent on infrastructure development through agencies like Goa Infrastructure Development Corporation, Public Works Department, water supply, irrigation and others which is totalling to Rs 1,300 crore.
He said despite additional burden in the form of seventh pay commission, the state managed to cross this 40 per cent spending.
Parrikar said Congress which was in power ten years back had made huge borrowings to the tune of Rs 900 crore of which Rs 700 crore was paid by his government.