Goa is heading for a major debt trap: BJP | india | Hindustan Times
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Goa is heading for a major debt trap: BJP

BJP Goa unit today said the state was heading for a major debt trap due to Congress-led government's excessive borrowings to mop up unwarranted expenditures.

india Updated: Jun 20, 2010 18:55 IST

BJP Goa unit today said the state was heading for a major debt trap due to Congress-led government's excessive borrowings to mop up unwarranted expenditures.

Party's state executive committee meeting in their `economic resolution' raised concern over state plunging into major financial crisis due to mismanagement by Digamber Kamat-led government.

"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," BJP's Goa Unit chief Laxmikant Parsekar said.

Briefing media midway state executive committee meeting, Parsekar said 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.

BJP in the resolution adopted today has said that government is 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.