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Public debt of Goa rising continuously: Economic Survey

Panaji: Public debt of Goa is continuously rising and as per the estimates of 2021, it is likely to further increase to Rs 17,962.24 crore, Economic Survey 2020-2021 presented by the government said.

The market loans forms a major part in the public debt followed by central loans and NSSF, which accounts for around 78.60 per cent and 16.89 per cent respectively of the total public debt.

As per the survery, the central loans are on a decline and market loans showed an increase over the years. The market loans which was 53.38 per cent of the total public debt in 2015, stood at 78.60 per cent in 2021. Similarly, the central loans and NSSF declined from 40.22 per cent in 2015 to 16.89 per cent in 2021.

”There has been steady increase in capital expenditure over the years. During 2020-2021, the capital expenditure was estimated at Rs 5822.07 crore, which is an increase of 9.11 per cent as compared to 2019-2020,” the survey said.

There had been steady increasing trend of revenue expenditure of over the years. In 2020-21, the revenue expenditure was estimated at Rs 12,977.42 crore with a growth rate of 10.48 per cent as compared to 2019-2020.
The Gross State Domestic Product (GSDP) at current prices for the year 2019-20 was 80,448.85 crore as against Rs 73170.33 crore in the year 2018-19, registering a growth of 9.95 per cent.

As per the advanced estimates the anticipated GSDP at current market price in the State during 2020-2021 is expected to reach Rs 81,502.22 crore.

As on December 12, 2020, there were 787 banking offices in the state. Upto 2017-18, there was an upward trend of bank branches but it started declining from 2018-19.

During 2020-21 (Upto December 31, 2020), the credits disbursed was Rs 28.703 crore. The advances level as on December 31,2020 was Rs 28,703 crore with an increase of Rs 5674 crore over December 2019 level.

The Credit Deposit (CD) ratio as on December 31, 2020, was 32.18 per cent, which was below the benchmark level of 40 per cent even as it was slightly above December 2019 level.

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