Panaji, March 6 The recent global economic situation is expected to have a significant impact on Goa's economy, which is heavily reliant on the service sector, Chief Minister Pramod Sawant said on Friday while presenting the budget for 2026-27 in the assembly.
Speaking in the House, the CM said, despite the concerns, the state's economic indicators are strong, with the Gross State Domestic Product (advanced estimates) for 2026-27 projected at Rs 1.31 lakh crore.
The per capita GSDP of the coastal state is expected to remain among the highest in the country at Rs 8.18 lakh, Sawant added.
"The recent global situation and its subsequent effects are expected to have a significant impact on the economy of Goa, which is a state heavily reliant on the service sector," he said.
Sawant presented a budget with a total expenditure estimate of Rs 30,195 crore, reflecting a growth of 7.21 per cent over the previous year's estimates.
The total receipts for the upcoming financial year are projected at Rs 29,181 crore, with the state expecting a revenue surplus of Rs 1,666 crore.
Highlighting the role of the Centre in supporting infrastructure development, Sawant said Goa has received around Rs 2,078 crore as special assistance during the current year.
He said the assistance was the highest ever received by the state and attributed it to the "double engine" government working towards the vision of 'Viksit Goa 2037'.
The chief minister said the state expects an additional Rs 1,357 crore from the Centre for various schemes and another Rs 1,600 crore as special assistance.
"The fiscal reforms undertaken by the state government are reflected in the accounts finalised by the Comptroller and Auditor General. In 2024-25, Goa achieved a revenue surplus of Rs 2,867 crore as per the accounts finalised by CAG, which is the highest ever in the state's history," he said.
The fiscal deficit for FY 2026-27 is projected at Rs 3,895 crore, which remains within the limits prescribed in Fiscal Responsibility and Budget Management Act, the CM said.