Porvorim (Goa) Former Chief Minister Laxmikant Parsekar might have been now out of legislative assembly but CAG report has exposed what he could not achieve.
CAG has said that the fiscal position of the State had declined in terms of key parameters in the financial year ending March 31, 2016 indicating overall fiscal imbalances in the finances of the State government.
The report was tabled during the ongoing State legislative assembly session today has recommended fiscal correction to the state’s finances.
CAG has said: “The fiscal position of the State had declined in terms of the key paramters as compared to the previous year.”
“The fiscal parameters like revenue, fiscal and primary deficits indicate the extent of overall fiscal imbalance in the finances of the State government during the specified period.”
It has said that during 2015-16, revenue surplus was Rs 132 crore less than the previous year’s surplus of Rs 279 crore due to reduced growth of receipts as compared to the expenditure.
“Fiscal deficit during 2015-16 increased to Rs 1,483 crore from Rs 948 crore in 2014-15. Due to increase in the fiscal deficit by 56.43 per cent and interest payment by 6.64 per cent, the primary deficit increased to Rs 408 crore in 2015-16 from a primary surplus of Rs 60 crore in 2014-15.”
Team TNV