Delhi government is the latest among those asking the Centre for a bailout, citing a slump due to recession.
The state government has demanded another Rs 4,300 crore from the Centre to fund the 2010 Commonwealth Games in the city.
Delhi government officials said a detailed proposal has been submitted to chief minister Sheila Dikshit who is expected to hand it over to the Centre sometime this week.
State finance minister A.K. Walia said the government had made its earlier projections for monetary help based on its financial health at that stage. “We have calculated our income and expenditure and found that we would need more monetary assistance for Games 2010. The Centre has so far given us Rs 750 crore, split under the head of Games 2010 and JNNURM (Jawaharlal Nehru National Urban Renewal Mission). No funds have been given to us yet for the Games under JNNURM. We need at least Rs 5,000 crore from the Centre,” he said.
Walia said the funds were required to ensure Games projects finish on time. “We have the funds now, but want the funds ready for 2009-10,” he added. The economic slump had affected tax collection. “Our collection from taxation is expected to fall short by Rs 1,300 crore. The estimated collection for this year was about Rs 13,000 crore. Add to this the Rs 1,500 crore expenditure we will incur to implement the 6th Pay Commission. This means a direct impact of almost Rs 3,000 crore,” he said.
Officials said collections under stamp duty on sale and purchase of property and Value Added Tax (VAT) for the last 7-8 months were 20 per cent and 4 per cent lower than the amount collected for the same period last year. “We don’t get much funds from the Centre. Delhi’s share in Central taxes collected in the city is Rs 315 crore. We have received Rs 350 crore under the Games head and another Rs 400 crore is promised under the JNNURM head. We are asking that the Rs 450 crore under urban renewal head be added to the Games head since we need funds to expedite projects,” an official said.
{{/usCountry}}Officials said collections under stamp duty on sale and purchase of property and Value Added Tax (VAT) for the last 7-8 months were 20 per cent and 4 per cent lower than the amount collected for the same period last year. “We don’t get much funds from the Centre. Delhi’s share in Central taxes collected in the city is Rs 315 crore. We have received Rs 350 crore under the Games head and another Rs 400 crore is promised under the JNNURM head. We are asking that the Rs 450 crore under urban renewal head be added to the Games head since we need funds to expedite projects,” an official said.
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