Claiming that fiscal situation of the state is quite good, Goa Chief Minister Manohar Parrikar today told Legislative Assembly that the primary sector of the state economy grew by 117 per cent in the last five years.
"The overall growth in the primary sector has been 117 per cent in the last five years," Parrikar said, responding to a discussion on the state budget today.
The Assembly today discussed the budget for 2017-18 which was presented in March.
The primary sector which accounted for 4.8 per cent of the Gross State Domestic Product (GSDP) five years ago now stands at seven per cent of GSDP with agriculture sector growing from 2.38 per cent to 2.83 per cent of GSDP, he said.
Animal husbandry sector which was 0.55 per cent of GSDP five years back is now 0.81 per cent, while fisheries sector rose from 1.81 per cent to 2.81 per cent, he said.
Despite the revenue dipping to the extent of 15-20 per cent when iron ore mining was temporarily banned in the state, GSDP growth projection for the current year is 11 per cent, he said.
"Technically, Goa has become the richest state in the country," he said.
The debt to GSDP ratio is now down to 23 per cent compared to 35 per cent in 2012-13, he said.
Since he returned as the chief minister (after the election in February), state coffers have always been in surplus, he said, responding to an allegation by opposition that the state was heading towards a financial crisis.
The revenue had gone up 21.83 per cent since he took over, he said.
"Due to the GST (Goods and Services Tax) impact, the state will get additional Rs 400-500 crore," Parrikar added.
Goa's tax to GSDP ratio was lowest among the states, he said.
The interest component of repayment of loans stood at 13.81 per cent in 2013-14, which has been now brought down to 10 per cent, he said.
He also said that salary of MLAs, which has been Rs 90,000 a month since 2012, would be revised.
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