porvorim criticising the earlier government for excessive borrowing chief minister pramod sawant said that he has taken steps to reduce the repayment burden of the state which will save the state exchequer crores of rupeespointing out that the state fiscal deficit stands at 296 of the gsdp sawant said that in the coming financial year the government would take steps to reduce the states borrowings my government has adopted a prudent fiscal policy and kept the deficit and debt stock related to the gsdp at a sustainable level the fiscal deficit maintained for the current fiscal year is at 296 of gsdp which is within the prescribed norms said sawantthe states public debt as on march 31 is projected at rs 17952 crore with market loans forming a major part of the public debt the economic survey 202021 indicates that central loans have shown a decline while market loans have shown an increase over the years the earlier governments without looking at the financial situation of the state borrowed irresponsibly and put a burden on the state my government has considered the situation and has taken steps to repay some of the loans and reduce the states financial burden said sawantamong the steps taken by the state are repayment of loans taken by the goa state waste management corporation which had a 13 interest rate and a loan taken by sanjeevani sugar factory which had an interest rate of rs 125 the state government has also managed to restructure loans taken from lic and power finance corporation which had an interest rate of 12 in order to reduce its expenditure burden the state government also proposes to dovetail nine state government schemes with similar schemes offered by the centre which will save rs 200 cr of the state exchequer my government is in the final process of empanelment of consultancy firms for availing maximum central funds for various projects in the state with minimal burden on state exchequer by adopting success fee mechanism my government is in the process of rolling out new 49 centrally sponsored schemes which will be implemented for the first time and i expect to get an assistance to the tune of rs 772 crores during 202122 said sawant