Puducherry achieved growth rate of 10.95 per cent, says LG Kiran Bedi in address to assembly
PUDUCHERRY: Puducherry's Gross State Domestic Product (GSDP), the most important fiscal indicator to measure economic development, has grown by 10.95 percent compared to the previous year, said Lieutenant Governor Kiran Bedi in her customary address in the budget session of the Legislative Assembly.
Delivering the address amidst a boycott by four members including the Health Minister on Friday, Bedi said that the GSDP of the UT had been estimated at Rs 37,943 crores (current price) for 2019-2020.
The per capita income also is showing a growth rate of 5.3 percent, having increased from Rs 2,20,208 (current price) for the year 2018-2019 to Rs 2,32,057 (current price) for 2019-2020.
The government has firmly maintained its borrowing, interest payment, fiscal deficit, revenue deficit and other parameters within the limits prescribed in the fiscal road map which augurs well for the economy of the UT, she said.
On the financial front, the government has performed well during 2019-2020, said the Lt Governor. The expenditure incurred in 2019-2020 was Rs 7,927 crores as against the total outlay of Rs 8525 crores which works out to 93 percent. The non-receipt of GST compensation of about Rs 360 crore before March 31 2020 is a major reason for reduction in targeted expenditure, she said.
Listing out various achievements of the government in an hour long address, the Lt Governor said that the government is firmly treading the path of making the Union territory prosperous and free from poverty with all the resources available at its disposal.
She congratulated the Chief Minister, ministers and bureaucrats for securing first position in four governance indicators of human resource development, public health, justice and law and order among the seven UTs in the Good Governance Index released by the Centre on December 25, 2019.
Stating that there are great challenges ahead, she hoped that with the whole hearted cooperation of members, the government will meet them and make sustained progress in the near future as well as successfully come out of the crisis caused by COVID-19 pandemic.
Bedi also expressed her gratitude to the members for their immense contribution in mitigating the hardship being faced by the poor and vulnerable sections due to the COVID-19 pandemic in their respective constituencies by extending assistance on their own, even risking their lives in addition to the government’s efforts in this direction.
The Lt Governor was scheduled to address the session on July 20, but backed out stating that the Annual Financial Statement (AFS) along with the demand for grants needs to be approved by her before her address and presentation of the AFS. Subsequently, after the Chief Minister's Budget speech on July 20, the AFS with demand for grants was sent to the Lt Governor which was duly approved by her. On invitation from the Speaker and Chief Minister, she addressed the session, though deviating from the practice of inaugurating the budget session.
Earlier on her arrival, she was received by the Speaker V P Sivakozhunthu along with Deputy Speaker M N R Bhalan and presented a guard of honour by the Puducherry Armed Police.