Delhi Government Maintained Revenue Surplus Over Last 5 Years, Despite Fall In Aid From Centre: CAG Report
The Comptroller and Auditor General (CAG) report on state finances tabled in the Delhi Assembly on Monday, December 2 said that the Delhi government has maintained a revenue surplus over the last five years from 2013-14 to 2017-18.
The revenue surplus comes despite a fall in grants in aid to the State from the Centre. According to the report, Delhi’s revenue receipts during the year 2017-18 increased by 12.58 per cent over the previous year.
In the fiscal year 2017-18, the tax revenue increased by 14.70 per cent while the non-tax revenue registered a massive increase of 101.05 per cent. The grants in aid from the centre to Delhi decreased from ₹2,825 crore in 2016-17 to ₹2,184 crore in 2017-18.
“This included grants from Government of India in lieu of share in central taxes which has remained stagnant at ₹325 crore since 2001-02 although the central tax collections have grown substantially since 2001-02,” said the State Finances Audit Report.
“Five years of increased expenditure on schools, hospitals, water and power – all this while maintaining revenue surplus and improving Delhi’s fiscal health. This was possible because Delhi has a non-corrupt govt which uses every paisa of taxpayer money on public welfare,” Chief Minister Arvind Kejriwal Tweeted on Tuesday, December 3.
Five years of increased expenditure on schools, hospitals, water and power – all this while maintaining revenue surplus and improving Delhi's fiscal health. This was possible because Delhi has a non-corrupt govt which uses every paisa of taxpayer money on public welfare. pic.twitter.com/7RZpMHpezW
— Arvind Kejriwal (@ArvindKejriwal) December 3, 2019
As of March 31, 2018, the government had invested ₹19,173 crore in Statutory Corporations, Rural Banks, Joint Stock Companies and Co-operatives. While the Government paid interest at an average rate of 8.58 per cent on its borrowings during 2017-18, the return on this investment was 0.08 per cent. The report also said that the government investments had increased by 12.38 per cent over the five year period.
The report also pointed out the slow recovery of loans disbursed by the state government to the municipal corporations, Delhi Transport Corporation(DTC) and Delhi Jal Board(DJB). Of the ₹26,620.04 crore loans disbursed to DJB between 1998-2018, only ₹351.16 crore was repaid, leaving an outstanding amount of ₹26,268.89 crore as on March 31, 2018. In the case of DTC, only ₹161.55 crore has been repaid from a loan of ₹11,837.69 crore disbursed to it during 1996-2011, leaving ₹11,676.14 crore as outstanding as on March 31, 2018.