Medium Term Fiscal Policy for Goa
Publication dateJan, 2011
DetailsReport submitted to the Government of Goa
AuthorsPratap Ranjan Jena
The objective of this report was to prepare the Medium Term Fiscal Policy (MTFP) of Goa for the year 2011. The State Government is required to place the MTFP in the legislature as stipulated in the FRBM Act. The MTFP 2011 represents the fiscal policy objectives and projected fiscal targets in the ensuing budget year and two outward years. A detailed review of the macroeconomic and fiscal performance of Goa for the period from 2004-05 to 2010-11 was undertaken in the MTFP. Based on the review of state finances and the level of fiscal imbalance, the Medium Term Fiscal Plan was prepared for the period between 2011-12 and 2013-14. The assumptions with regard to the revenue forecasts and expenditure restructuring parameters for the preparation of MTFP are arrived at on the basis of the recent data covering the period between 2004-05 and 2010-11 and taking into consideration the policy announcements relating to revenue augmentation measures and expenditure priorities.