Goa's public debt for FY17 was Rs 12,433 crore: Manohar Parrikar

PANAJI: Goa's public debt in the last fiscal stood at Rs 12,433 crore, Chief Minister Manohar Parrikar told the Legislative Assembly today.

"The state public debt for FY 2016-17 was Rs 12,433 crore. It was Rs 11,344.19 crore in the fiscal 2015-16," the chief minister said in a written reply to a question raised by Leader of Opposition Chandrakant Kavlekar.

"The government has made adequate provisions in the Budgetary Estimate (BE) to discharge all liabilities towards repayment of the loan (principal + interest) installments," he said.

The chief minister said repayment of debt is part of the revenue expenditure, which is adequately backed by revenue receipts being generated by several additional revenue measures.

"The government resorts to Open Market Borrowings to fund capital infrastructure development projects that create capital assets for the state, and not for payment of salaries, subsidies, schemes, maintenance works etc which form part of revenue expenditure and paid out from the revenue receipts," he said.