Panaji, Jul 23 (IANS): With the state reeling under a debt of Rs 27489 crores, the Goa government has decided to restrict expenditure within budgeted revenues, said Chief Minister Pramod Sawant on Tuesday.

The opposition parties on many occasions have attacked the BJP government for increasing the debt of the state.

While replying to the Legislative Assembly Question (LAQ) by BJP MLA Krishna Salkar, the finance department said that the current total public debt of the state as on June 30, 2024 was Rs.2748904.53 lakhs.

“Restricting expenditure within budgeted revenues, restricting borrowings within FRBM limits and restructuring of high interest loans are the three measures being taken by the finance department to reduce the debt,” Pramod Sawant, who also holds the finance portfolio, said.

According to the data provided by the finance department, the total debt of the state for the financial year 2019-20 was Rs 16894 crore, 2020-21 Rs 20729 crores, 2021-22 Rs 23271 crores, 2022-23 Rs 24619 crore, and 2023-24 Rs 27382 crores.

To counter the attacks by the opposition parties over borrowings, Sawant had said last year that "We have done such a planning and financial management that after two years, we will not require to take loans. We will have mining revenues, GST collections, excise revenues, and 36 per cent share from the Manohar International Airport at Mopa,"