Goa State Budget 2022-23 Analysis
ActualsTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Goa FY 2022-23
Goa State Budget 2022-23 Budget at a Glance
Total Receipts
Rs 17,800 crore
+14.8%
Total Expenditure
Rs 23,300 crore
+14.2%
Fiscal Deficit
3.8%
Rs 3,500 crore
Capital Expenditure
Rs 3,800 crore
+18.8%
Tax Revenue
Rs 9,500 crore
+15.9%
Interest Payments
Rs 2,400 crore
10% of expenditure
Goa Revenue Receipts 2022-23
Own tax revenue vs non-tax revenue breakdown
Goa Expenditure Breakdown 2022-23
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Fiscal Deficit as % of GSDP โ Goa 2022-23
The fiscal deficit for Goa in 2022-23 is 3.8% of GSDP (Rs 3,500 crore), reflecting the state's borrowing needs to fund development programmes.
States are expected to maintain fiscal deficit within 3% of GSDP as per the FRBM Act. Goa's deficit is above this threshold, driven by higher capital spending needs.
Interest payments at Rs 2,400 crore consume 10.3% of total expenditure.
Goa State Budget 2022-23 โ Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 27,200 crore | 100% |
| 1. Revenue Receipts | Rs 17,800 crore | 65.4% |
| a. Own Tax Revenue | Rs 9,500 crore | 34.9% |
| b. Non-Tax Revenue | Rs 2,200 crore | 8.1% |
| B. Total Expenditure | Rs 23,300 crore | 100% |
| 1. Revenue Expenditure | Rs 19,500 crore | 83.7% |
| 2. Capital Expenditure | Rs 3,800 crore | 16.3% |
| of which: Interest Payments | Rs 2,400 crore | 10.3% |
| C. Fiscal Deficit | Rs 3,500 crore | 3.8% of GSDP |
Source: Goa State Budget Documents via PRS India. All figures in Indian Rupees.
Goa Budget 2022-23 Analysis & Highlights
Key Highlights
- Total expenditure at Rs 23,300 crore as the post-pandemic recovery matures
- Revenue receipts of Rs 17,800 crore with own tax revenue reaching Rs 9,500 crore
- Revenue deficit of Rs 1,700 crore persists despite strong revenue growth
- Fiscal deficit at 3.8% of GSDP (Rs 3,500 crore), above FRBM norms
- Outstanding debt at Rs 35,500 crore with debt-to-GSDP at 38.0%
- Interest payments of Rs 2,400 crore absorb 13.5% of revenue receipts
- Capital expenditure at Rs 3,800 crore โ highest ever for the state
- Manohar International Airport at Mopa inaugurated โ transforming tourism access
- GST compensation ends in June 2022 โ state loses guaranteed revenue growth
- Casino taxation provides stable revenue as the industry matures
- Non-tax revenue at Rs 2,200 crore with diversified non-mining sources
- GSDP at Rs 93,500 crore with tourism-led services driving growth
Compare Goa Budget โ Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2018-19 | 2019-20 | 2020-21 | 2021-22 | 2022-23 |
|---|---|---|---|---|---|
| Total Expenditure | โ | โ | โ | Rs 20,400 crore | Rs 23,300 crore |
| Revenue Receipts | โ | โ | โ | Rs 15,500 crore | Rs 17,800 crore |
| Capital Expenditure | โ | โ | โ | Rs 3,200 crore | Rs 3,800 crore |
| Fiscal Deficit (% GSDP) | โ | โ | โ | 3.8% | 3.8% |
| Own Tax Revenue | โ | โ | โ | Rs 8,200 crore | Rs 9,500 crore |
Columns showing "โ" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Goa State Budget 2022-23
The Goa state budget is the annual financial plan presented in the state legislature. It covers all revenue receipts, expenditure allocations across departments, and fiscal deficit management. State budgets are critical because states handle key development areas including education, health, agriculture, and infrastructure.
Goa Revenue Sources
State revenue comes from three sources: own tax revenue (state GST, stamp duty, excise, vehicle tax), non-tax revenue (fees, fines, interest), and transfers from the Centre (share of central taxes as per Finance Commission recommendations, plus grants-in-aid for specific schemes).
Fiscal Deficit and State Borrowing
Under the FRBM framework, states target a fiscal deficit of 3% of GSDP. States can borrow from the market via State Development Loans (SDLs), and the central government also provides loans. The RBI manages the borrowing calendar for states to ensure orderly market conditions.
Explore More
Compare Goa with other states
Side-by-side comparison of fiscal metrics across Indian states