Delhi government maintained revenue surplus over the past five years: CAG report on state finances
New Delhi, December 2 () The Delhi government has maintained a revenue surplus over the past five years, a CAG audit report on state finances presented at the Assembly said on Monday.
The audit report of the Comptroller and Auditor General (CAG) for the year ending March 2018 indicated that tax and non-tax revenues also registered an increase of 14.70 percent and 101.05 percent, respectively, during the previous year.
The report was presented in the House by Senior Vice Minister Manish Sisodia.
The government of the National Capital Territory of Delhi (GNCTD) has maintained a revenue surplus in the last five years between 2013-14 and 2017-18, he said.
Aid grants received by Delhi from the Center decreased from Rs 2,825 million (2016-17) to Rs 2,184 million (2017-18). This included grants from the Center instead of participation in central taxes, which has remained stagnant at Rs 325 Rs since 2001-02, although central tax collections have grown substantially since 2001-02, the report notes.
The Delhi government led by Prime Minister Arvind Kejriwal has been constantly demanding that the Center increase its participation in central taxes.
The government of Delhi until March 31, 2018 had invested 19,173 million rupees in statutory corporations, rural banks, corporations and cooperatives in which it received a yield of 0.8 percent. However, he paid interest at an average rate of 8.58 percent on his loans during 2017-18.
The report also pointed to the slow recovery of loans disbursed by it to municipal corporations, Delhi Transport Corporation (DTC) and Delhi Jal Board.
Against loans amounting to Rs 26,620.04 million disbursed to the Jal Jal Board during 1998-2018, Rs 351.16 million were reimbursed leaving Rs26,268.89 rupees outstanding as of March 31, 2018. DTC that Rs 11,837.69 million were disbursed during 1996-2011, R $ 161.55 crore were paid until March 31, 2018.
The three municipal corporations, Municipal Corporations of the North, East and South of Delhi, had outstanding loans of Rs 2,037.54 rupees, Rs 1,395.90 million rupees and Rs 381.45 rupees, respectively, until March 31, 2018, according to report.
According to the CAG report, the general fiscal liabilities of the Delhi government were Rs 33,569 million in 2017-18. Tax liabilities accounted for 4.89 percent of the state gross domestic product (GSDP), 86.81 percent of revenue and 92.01 percent of Delhi's own resources.
The fiscal deficit of Rs 1,051 million rupees in 2016-17 became a fiscal surplus of Rs 113 rupees in 2017-18 and stood at 0.02 percent of the GSDP, he added.
The report also underscored substantial delays in the presentation of certificates of use by various concessionary institutions, deliveries of funds involving Rs 1,249.81 crore, in 2017-18, he said. The report noted significant amounts of expenses and revenues recorded in other categories, which affect transparency in financial information. VIT RT