PANAJI: The Goa State's public debt since past six years is continuously rising, shows the Economic Survey of 2019-20, which was presented in the Assembly on Wednesday. As per the survey, while the State's debt stood at Rs 9034.53 crore in 2014, it jumped to Rs 13611.10 cr. The estimated debt for 2020 has been pegged at 15008.66 cr. It is interesting to note that though the public debt is increasing continuously, yet the Debt/Gross Sate Domestic Product Ratio shows a decline from 2017 onwards. In the year 2017, the Debt/GSDP ratio was 19.53 per cent, which decreased to 19.30 per cent in 2018 and further decreased to 18.54 per cent in 2019 (Revised Estimate). As per 2020 (Estimated) it is further expected to decrease to 15.15 per cent. The public debt which was 11344.19 crore in 2016 has increased to 12395.42 crore in 2017. It further increased to 13611.10 crore in 2018 and 14358.66 crore as per the revised estimate 2019 and is likely to increase to (15008.66 crore as per 2020 (Est.).
As per 2020 (Est.), market loans forms a major part in the public debt followed by central loans & NSSF which accounts for around 73.69 per cent and 22.11 per cent respectively of the total public debt. It can be noticed that the central loans shows a decline and market loans shows an increase over the years. The market loans which was 51.34 per cent of the total public debt in 2014, stood at 73.69 per cent in 2020 (Est.). Similarly, the central loans & NSSF which was 42.45 per cent in 2014, declined to 22.11 per cent in 2020 (Est.) Loans from NABARD accounts for only 3.85 per cent of the total public debt during 2020 (Est).
State is in Revenue surplus from 2014-15 and has increased over the years. 2020 (B.E), the revenue surplus is estimated at Rs 455.10 crore. Fiscal deficit has been fluctuating over the years which. The fiscal deficit for 2019-20 is pegged to Rs 1418.65 crores. In 2016-17 and 2017-18 there was primary surplus of Rs 177.16 crore and Rs 2974.48 respectively. In 2018-19 (RE) and the primary surplus is estimated to be Rs 2135.81 crores and 2930.98 crore respectively.