log on to thegoan.net @thegoanonline SATURDAY AUGUST 9, 2025 GOA Facebook.com/thegoan The Goan E-Paper (Playstore/IOS) 14 pages PRICE ` 10 PANAJI MARGAO GOA VOLUME XI, NO. 53 Govt steps up waste measures, but ground reality remains unchanged 3 GOA P’yat association decries assault on Morjim panchayat secy 5 Instagram.com/thegoanonline RNI: GOAENG/2015/65729 INFO Can tulsi reduce pimples? Ways to use it 11 SPORTS PCB suspends Haider Ali after rape allegations 14 CAG sounds alarm on Bill on public universities sent to select committee Goa’s mounting debt THE GOAN I NETWORK DEBT LEVELS SURPASSED 25% GSDP LIMIT FROM 2019 TO 2024, REVEALS REPORT THE GOAN I NETWORK PANAJI Despite the Goa government exceeding the target debt-toGross State Domestic Product (GSDP) ratio of 25 per cent in all five years from 2019 to 2024, the State's debt burden remains substantial relative to its economic output. However, the situation indicates financial vulnerability and reduced fiscal flexibility, according to the Comptroller and Auditor General (CAG) in its latest report. According to CAG’s State Finances Report 2023-24 tabled on the Floor of the House, the State’s total outstanding debt at the end of March 2024 worked out to be Rs 33,573 crore, ratio of total outstanding debt to GSDP stands at 29.93 per cent. CAG noted that the State registered revenue surplus in three out of five years from 2019 to 2024, with the maximum surplus of Rs 2,400 cr reported in 2022-23, which reduced to Rs 1,423 cr in 2023-24. The fiscal deficit was within the permissible limit in all years from 2019 to 2024. KEY FINDINGS OF AUDITOR’S REPORT „„State’s total outstanding debt at the end of March 2024 worked out to be Rs 33,573 cr „„Ratio of total outstanding debt to GSDP stands at 29.93% „„State registered revenue surplus in three out of five years from 2019 to 2024 „„Maximum surplus of Rs 2,400 cr reported in 2022-23 „„Fiscal deficit was within permissible limit in all years from 2019 to 2024 „„High debt to GSDP ratio signifies State’s burden is substantial compared to its eco output and indicates financial vulnerability and reduced fiscal flexibility “The State government had breached the target of debt-GSDP ratio of 25 per cent in all five years from 2019 to 2024. The Debt-GSDP ratio remained more than 30 per cent from 2019 to 2023 but decreased below 30 per cent in 2023-24. High debt to GSDP ratio signifies that the State’s burden is substantial compared to its economic output and indicates financial vulnerability and reduced fiscal flexibility,” CAG said. According to the Auditor, the GSDP (at current prices) grew from Rs 75,032 crore in 2019-20 to Rs 1,06,533 crore in 2023-24, which indicates growth of 13.73 per cent in GSDP over the previous year, 2022-23. The State’s own tax revenue increased by 11.49 per cent during 2023-24 over the previous year. “The total expenditure (revenue expenditure, capital expenditure and loans and advances) of the State of Goa increased from Rs 18,313 crore in 2022-23 to Rs 20,423 crore, registering an increase of 11.52 per cent over the previous year,” the report stated. CAG noted that between >Continued on P9 PANAJI Taking note of serious concerns raised by Opposition members, Chief Minister Pramod Sawant on Friday agreed to their demand to refer the Goa Public Universities Bill, 2025 to a select committee. Accordingly, the bill introduced by Sawant last Friday to enable establishing public universities in Goa ostensibly to implement the goals of the National Education Policy will be brought back to the House after it is deliberated thoroughly and suitable changes incorporated by a select com- mittee headed by WRD Minister Subhash Shirodkar. Other members of the select committee constituted by the House under Shirodkar's chairmanship include: Digambar Kamat, Ganesh Gaonkar, Nilesh Cabral, Deviya Rane, Aleixo Reginaldo Lourenco and Dr Chandrakant Shetye from the ruling side and Vijai Sardesai, Carlos Alvares-Ferreira, Cruz Silva and Viresh Borkar from the Opposition side. Earlier this week, the consideration and passage of the Bill was postponed to Friday after the Opposition raised objections and questioned the government's hurry in passing the bill while expressing the fear that Goa University would be jeopardised if more public universities are set up. On Friday, Sawant initially sought to allay the Opposition's fears saying no >Continued on P9