Goa budget presented in LS

The budget estimates for 1999-2000 placed revenue receipts at Rs 1335.76 crore. The revenue expenditure is estimated at Rs 1488.92 crore, leaving a deficit of Rs 143.05 crore on the revenue account.

On the capital account, the receipts are estimated at Rs 342.58 crore, whereas the capital expenditure is estimated at Rs 299.62 crore. After accounting for transactions in the public account and the opening balance, the overall deficit for the coming year is estimated at Rs 13.14 crore.

The state plan outlay for 1999-2000 has been arrived at Rs 240 crore which is marginally higher than current year8217;s outlay of Rs 234.77 crore. The Central assistance has been projected at Rs 86.92 crore and state8217;s own resources at Rs 153.08 crore in the coming year.

The revised estimates for the current year indicate a net reduction of Rs 145.55 crore in receipt under revenue account as compared to budget estimates of Rs 1288.94 crore. The reduction is mainly on account of lower sale of lottery tickets of the order of Rs 122.02 crore.

The states8217; share in Central taxes and sales tax collection accounted for Rs 23.53 crore of revenue shortfall. The revenue expenditure declined by Rs 100.30 crore as compared to the budget estimate of Rs 1423.06 crore.

The decline is primarily explained by saving on lottery prize money to the extent of Rs 122.03 crore which was partly offset by an increase in revenue expenditure on other items to the extent of Rs 21.73 crore.

The increase in revenue expenditure on other items is explained by a larger impact of revised pay-scales and other committed expenditures, including interest burden.

The receipts on capital account in the revised estimates registered an increase of Rs 76.30 crore compared to the budget estimate of Rs 275.72 crore.

Capital expenditure under revised estimates 1998/99 indicates an increase of Rs 48.75 crore as compared to the budget estimates of Rs 232.64 crore. This increase, mainly on capital outlay, could have been higher but for a deterioration in the revenue deficit that used up part of the increase in capital receipts.

Taking into account the net transactions under consolidated fund, contingency fund and public account along with an opening balance of Rs 4.69 crore, the current year is expected to close with a surplus of Rs 0.09 crore as compared to the budget estimates of minus Rs 5.22 crore.