Goa govt notifies sale of Rs 100 cr securities

Panjim: Goa government has notified sale of Rs 100 crore government securities, which were auctioned by Reserve Bank of India (RBI) on Tuesday.
“Government of Goa hereby notifies the sale of Goa Government Stock (Securities) of 10-year tenure for an aggregate amount of Rs 100 crore (nominal),” State Finance Secretary Daulat Hawaldar said in the notification.

Pointing to the borrowings, the Goa Forward Party (GFP) claimed that the State is in serious financial crisis.

GFP Vice President Durgadas Kamat said that with the latest borrowing of Rs 100 crore, the total borrowings from March 2017 till date has crossed a mark of Rs 2,000 crore.

“While on one side the debt has been increasing, the government is involved in wasteful expenditure. This is leading State to a major debt trap,” he added.

Kamat alleged that ‘super chief minister’ was forcing alliance partners and ministers in the Cabinet to address press conferences to defend the government on finance front, though it is clear on records that State has been on borrowing spree. [H]