Additional borrowing a must: Parrikar

PTI, PANAJI | 24 June 2013 20:10 IST

Chief Minister Manohar Parrikar today conceded that the state had to go for additional borrowings last fiscal due to closure of mining industry which hit the revenues.

"Last year we did go for additional borrowings from the market to the tune of Rs 250-300 crore. But that is due to stoppage of mining activity (on Supreme Court order) and also the liabilities created by the previous government," said Parrikar, who took over the reigns of the state in March 2012.

He said the previous Congress-led government had received Rs 82 crore from the Centre for creation of infrastructure for hosting Lucifonia Games -- the Portuguese commonwealth games to be held in Goa this year.

"But the money was not used for the purpose. We don't know where the money went. The (then) government must have syphoned it off," he said.

He had to take care of this liability of Rs 82 crore and further borrow Rs 15 crore, he said.

The Chief Minister also accused the Centre of releasing the funds under Additional Central Assistance (ACA) to the state only at the fag end of the financial year. "The funds were sanctioned in December 2012 but they were actually received in March 2013, still we utilised the amount."

For the current year, Parrikar said the state will utilise more than 85 per cent of the allotted funds. The Centre had assured to release the funds in time, he said.

The planning commission this FY has approved plan expenditure of Rs 4,715 crore for Goa, as against Rs 4,700 crore for 2012-13. is now on Telegram & also Youtube. Kindly subscribe for free & remain updated.

Drop a comment

Enter The Code Displayed hereRefresh Image

Latest News