Delhi govt cuts revenue, expenditure targets
According to the figures given in the 2019-20 Delhi budget, revenue collection of the government fell by 5.74% in the revised estimates (RE) when compared to the budget estimate (BE) of 2018-19.Updated: Feb 27, 2019 01:25 IST
The Delhi government has done a downward revision of both its revenue and expenditure collection targets for fiscal 2018-19.
According to the figures given in the 2019-20 Delhi budget, revenue collection of the government fell by 5.74% in the revised estimates (RE) when compared to the budget estimate (BE) of 2018-19.
Similarly, its total revised expenditure fell short by 5.2% of the 2018-19 BE. The 2019-20 BE figures, however, promise an increase of 19.52% and 11.58% in expenditure and revenue, respectively, when compared to 2018-19 RE figures.
Finance minister Manish Sisodia said the downward revision under the revenue head was partially because of the roll out of Goods and Services Taxes (GST). “We are still behind our target in GST collection and are having to seek compensation from the Centre. This is happening because the Centre is yet to give HSN codes to every product in the market. Once that is done, even the slightest pilferage will end,” he said.
The government said the downward revision in both categories is still better than last year’s budget wherein the expenditure shortfall was 7.6% and the revenue collection shortfall was 5.4%.
Chief minister Arvind Kejriwal said the economy of Delhi is booming at a time when other states are grappling with difficulties. “Delhi’s per capita income is three times the national average. We know how to run a government. And if the BJP and Congress wants to learn, they are free to do so,” he said, while talking to reporters after the budget was tabled in the Delhi assembly.
For yet another year, Delhi’s per capita income saw a steady increase. In 2018-19, it was at Rs 3,65,529, which is an increase of 11% over the per capita income of Rs 3,28,985 in 2017-18.
The 2019-20 budget projected Gross State Domestic Product (GSDP) at current prices is likely to increase to Rs 7,79,652 crore in 2018-19 from Rs 6,90,098 crore in 2017-18, indicating a growth of 13%. But, when calculated at constant prices, Delhi’s growth is estimated to be 8.61% during 2018-19, whereas the all-India growth rate is 7.2%.
The finance minister said the contribution of Delhi to the national GDP also increased from 3.97% in 2014-15 to 4.14% in 2018-19. “This is despite the fact that Delhi comprises only 1.4% of the total population of India,” he said.
Talking about the Goods and Services Taxes (GST), Sisodia said about 1,14,282 new GST registrations were done from April 1, 2018, till December 2018, besides 2,26,717 new registrations between July 1, 2017, and March 31, 2018.
To check illegal smuggling of liquor into Delhi and bootlegging, Sisodia, said they have registered 585 FIRs and that 585 arrests were made in 2018-19 (up to 08.01.2019).
“About 2.88 lakh illegal bottles of liquor have been seized. Total revenue from excise department during the year 2018-19 (up to January 2019) is Rs 4015.64 crore with a growth of 12.2%. The excise revenue target proposed for 2019-20 is Rs 6,000 crore with a growth of 15.38% over proposed RE of Rs 5,200 crore in 2018-19,” he said.
First Published: Feb 27, 2019 01:25 IST