The state of Goa has shown remarkable fiscal performance, with the government achieving significant improvements in revenue surplus, fiscal deficit, and debt management. Comptroller and Auditor General (CAG) of India in its report on State Finances Audit Report has appreciated the efforts of Government of Goa.
The report highlights that despite the daunting challenges posed by the COVID-19 pandemic, the state has shown tremendous fiscal improvement, achieving most of the targets set under the Fiscal Responsibility and Budget Management (FRBM) Act and Rules.
Goa’s revenue surplus saw an exponential rise, jumping from Rs. 59 crores in FY 2021-22 to an impressive Rs. 2,400 crores in FY 2022-23. This significant increase in revenue surplus is a clear indicator that the state has successfully built a robust revenue base.
Another major achievement is the decline in the ratio of fiscal deficit to Gross State Domestic Product (GSDP) over the last two years, from 3.18% in FY 2021-22 to just 1.13% in FY 2022-23.
“Chief Minister Dr. Pramod Sawant after assuming office in 2019, has shaped the state’s future as a sustainable and Swayampurna Goa which inspired a new era of growth, establishing Goa’s status as a premier destination for tourism, entrepreneurship, and cultural exploration,” a Goa government official stated. At the core of this transformation is “Swayampurna Goa”, a visionary initiative born out of the necessity for self-sufficiency during the COVID-19 pandemic, which has played a pivotal role in Goa’s transformation. “By prioritizing self-reliance, this strategic approach not only safeguarded Goa’s financial well-being but also propelled it onto a robust growth path, laying the groundwork for a financially resilient future and cementing the state’s economic stability,” added the official.
Now, in its second phase, Swayampurna Goa 2.0 is shifting focus to Skilling, Reskilling, and Upskilling initiatives. This phase aims to equip Goans with industry-ready skills, making them employable in various sectors.
Inspired by the visionary SKILL India initiative of Prime Minister Narendra Modi to empower one of the pillars of the Government, the Yuva Shakti; Goa has also joined the nation’s quest to skill, reskill, and upskill our youth.
Goa has been one of the first state’s to commence effective and optimal implementation of the New Education Policy (NEP) 2020. Goa Government introduced skill development and vocational training programs at the school level. Initiatives like Coding and Robotics, Vidya Samiksha Kendra complimented by the AI Chatbot Parakh, and the Mulyavardhan Programme are targeted to prepare our students for the future.