Goa was heading for a major debt trap due to excessive borrowings of the Congress-led government to mop up unwarranted expenditures, the state BJP on Sunday alleged.
Panaji: Goa was heading for a major debt trap due to excessive borrowings of the Congress-led government to mop up unwarranted expenditures, the state BJP on Sunday alleged.
The party`s state executive committee meeting in their `economic resolution` on Sunday raised concerns over the state plunging into a "major financial crisis" due to alleged mismanagement by Digamber Kamat government.
Goa BJP chief Laxmikant Parsekar told reporters that the financial condition of the state and ever increasing expenditure with high level of fiscal deficit is leading the state to a debt trap situation.
"The reckless expenditure by the government has led to the liabilities exceeding Rs 7,000 crore which amounts to a per capita liability of Rs 45,000, which is an increase of 100 per cent in last five years," Parsekar said.
The BJP unit in its resolution adopted today said the government was allegedly involved in reckless expenditure on creation of redundant assets, most of which are of non-welfare nature and in fact turn out to be liabilities which apart from having high capital cost also result in recurring maintenance and operational costs.