Goa State Budget 2023-24 Analysis
Revised EstimateTotal expenditure, revenue receipts, fiscal deficit, and department-wise allocation for Goa FY 2023-24
Goa State Budget 2023-24 Budget at a Glance
Total Receipts
Rs 20,853 crore
+17.2%
Total Expenditure
Rs 24,603 crore
+5.6%
Fiscal Deficit
3.8%
Rs 3,766 crore
Capital Expenditure
Rs 4,656 crore
+22.5%
Tax Revenue
Rs 8,950 crore
-5.8%
Interest Payments
Rs 1,900 crore
8% of expenditure
Goa Revenue Receipts 2023-24
Own tax revenue vs non-tax revenue breakdown
Goa Expenditure Breakdown 2023-24
Revenue vs Capital spending and department allocation
Revenue vs Capital Split
Top 10 Departments by Allocation
Fiscal Deficit as % of GSDP โ Goa 2023-24
The fiscal deficit for Goa in 2023-24 is 3.8% of GSDP (Rs 3,766 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 1,900 crore consume 7.7% of total expenditure.
Goa State Budget 2023-24 โ Receipts & Expenditure Summary
| Particulars | Amount | % of Total |
|---|---|---|
| A. Total Receipts | Rs 25,258 crore | 100% |
| 1. Revenue Receipts | Rs 20,853 crore | 82.6% |
| a. Own Tax Revenue | Rs 8,950 crore | 35.4% |
| b. Non-Tax Revenue | Rs 6,060 crore | 24.0% |
| B. Total Expenditure | Rs 24,603 crore | 100% |
| 1. Revenue Expenditure | Rs 19,947 crore | 81.1% |
| 2. Capital Expenditure | Rs 4,656 crore | 18.9% |
| of which: Interest Payments | Rs 1,900 crore | 7.7% |
| C. Fiscal Deficit | Rs 3,766 crore | 3.8% of GSDP |
Source: Goa State Budget Documents via PRS India. All figures in Indian Rupees.
Goa Department-wise Expenditure 2023-24
Top departments by allocation in Goa for 2023-24
| Department โ | Revenue โ | Capital โ | Total โ | Share |
|---|---|---|---|---|
1. Education | Rs 2,650 crore | Rs 270 crore | Rs 2,920 crore | 11.9% |
2. Health & Family Welfare | Rs 1,250 crore | Rs 380 crore | Rs 1,630 crore | 6.6% |
3. Transport & Roads | Rs 620 crore | Rs 950 crore | Rs 1,570 crore | 6.4% |
4. Rural Development | Rs 950 crore | Rs 470 crore | Rs 1,420 crore | 5.8% |
5. Police & Home | Rs 900 crore | Rs 160 crore | Rs 1,060 crore | 4.3% |
6. Energy | Rs 800 crore | Rs 230 crore | Rs 1,030 crore | 4.2% |
7. Water Supply & Sanitation | Rs 470 crore | Rs 540 crore | Rs 1,010 crore | 4.1% |
8. Tourism & Culture | Rs 700 crore | Rs 300 crore | Rs 1,000 crore | 4.1% |
9. Urban Development | Rs 550 crore | Rs 380 crore | Rs 930 crore | 3.8% |
10. Agriculture & Allied | Rs 470 crore | Rs 200 crore | Rs 670 crore | 2.7% |
Goa Budget 2023-24 Analysis & Highlights
Key Highlights
- Revised expenditure at Rs 22,000 crore โ tourism revenue exceeded expectations.
- Post-COVID tourism boom drove record visitor numbers and hotel occupancy.
- Fiscal deficit at Rs 2,200 crore โ 2.5% of GSDP.
- GST collections grew 16% driven by hospitality and entertainment sectors.
- Mining ban continued โ Supreme Court direction awaited for resumption framework.
- Casino revenue at Rs 700 crore with stable operator base.
- Education and health spending maintained at budgeted levels.
- Capital expenditure at Rs 4,500 crore for road and airport infrastructure.
- Outstanding debt at Rs 21,000 crore.
- Real estate prices surged as domestic buyers purchased vacation properties.
Compare Goa Budget โ Recent Years
Year-over-year comparison of key fiscal metrics
| Metric | 2019-20 | 2020-21 | 2021-22 | 2022-23 | 2023-24 |
|---|---|---|---|---|---|
| Total Expenditure | โ | โ | โ | Rs 23,300 crore | Rs 24,603 crore |
| Revenue Receipts | โ | โ | โ | Rs 17,800 crore | Rs 20,853 crore |
| Capital Expenditure | โ | โ | โ | Rs 3,800 crore | Rs 4,656 crore |
| Fiscal Deficit (% GSDP) | โ | โ | โ | 3.8% | 3.8% |
| Own Tax Revenue | โ | โ | โ | Rs 9,500 crore | Rs 8,950 crore |
Columns showing "โ" will populate as more data is ingested. Data from official budget documents via PRS India.
Understanding Goa State Budget 2023-24
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