Panaji, Apr 26 (IANS): Goa Chief Minister Pramod Sawant said on Tuesday that his government will not require to take loans after two years, as there will be enough revenue collection by then.

"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," Sawant said during a programme in North Goa.

"Goa will be on track to generate enough revenues in the coming years, after whcih it won't require to take loans," he added.

Sawant made this announcement after laying the foundation for the construction of a barrage and 250 MLD raw water supply pumping station on Chapora River at Sal-Ibrampur village in North Goa. The project will supply drinking water to three talukas, and is expected to cost around Rs 350 crore.

"I didn't hesitate to give sanction to taking loan from NABARD for this project, because I have done financial planning for the next four years," he said.

Sawant also stressed the importance of community support for the project and said that irrigation societies will be formed to encourage more people to practice agriculture and horticulture.