Panaji (Goa) In what seems to be a good sign, the Gross State Domestic Product of Goa reflected a growth of 15.60 per cent for the fiscal 2016-17 compared to the financial year earlier, reads the Economic Survey report tabled on the floor of the House today.

The Economic Survey 2017-18 was tabled on the floor of the House during ongoing State Legislative Assembly session.

The report has said that the GSDP at constant prices for the year 2016-17 is estimated at above Rs 51,692 crore as against Rs 44,717 crore in the year 2015-16 thereby reflecting a growth of 15.60 per cent as against 11.47 per cent in the year 2015-16.

Secondary sector contributed for more than 50 per cent of the GSDP in the coastal state, as per the report which has estimated that the primary sector accounted for 8.40 per cent, secondary for 57.45 per cent an tertiary for 34.15 per cent.

The Economic Survey report has mentioned that the total receipt and total expenditure for the financial year 2017-18 is estimated to show an increase of 8.14 per cent and 17.78 per cent respectively compared to the previous year.

“Goa’s budge 2017-18 was presented with revenue surplus of Rs 202.48 crore,” the report has pointed out adding that the revenue receipt is estimated at Rs 9,522.64 crore in the year 2017-18.

“The revenue and capital expenditure are pegged at Rs 9,320.16 crore and Rs 5076.08 crore respectively. The public debt as on March 31, 2017 stood at Rs 13,203.42 crore,” the report adds.

The Economic Survey has also reflected the successful implementation of Goods and Service Tax in the State by Goa Commercial Taxes department. “The department is given a target of collection of Rs 348326.97 lakh as tax revenue for the year 2017-18. The department has made a collection of Rs 242728.90 lakh till December 31, 2017 as against Rs 210997 lakh for the same period during the previous year, this records a growth of Rs 15 per cent,” the report says.