PANAJI: According to the Goa branch of WIRC of ICAI, the budget presented by Chief Minister Dr. Pramod Sawant; is optimistic, in the right direction and proper implementation of the same would result in Goa’s greater good.
In a press release expressing their reaction to the budget for the year 2022-23, ICAI Goa branch “welcomed the budget” and “observed that the Chief Minister had managed to present a full budget, as opposed to a Vote on Account, inspite of acute shortage of time, since he had taken oath as Chief Minister just a couple of days back. The budget was optimistic, in the right direction and proper implementation of the same would result in Goa’s greater good.”
“The budget has steered clear of any big bang or populistic means, instead the Chief Minister has focused on incremental changes to existing schemes. The Chief Minister has also distributed the state’s revenues and resources, to all different sectors of the economy and small packages for all sectors are visible” said the Chairman of the Goa ICAI, CA Gaurav Kenkre
The ICAI cautioned that the State finances maybe affected with the double whammy of repayment of old loans, which have become due now, compunded by the stoppage of GST compensation received from centre. In light of the above, and since the Chief Minister has promosed no increase in taxes, the ICAI suggested that the best way to augment revenues would be to focus on increasing tax efficiencies and increasing the taxbase by bringing in errant informal sector players, while at the same time, not hurting the genuine taxpayers.
The ICAI was also pleased to note that one of the suggestions which it had given in one of the erstwhile pre-budgeted memorandum i.e. VRS scheme for government employees, had found mention in the State Budget. There were also several steps taken on the path of ‘Ease of Doing Business’, which related to taking several approvals and processes online.
