Delhi govt maintained revenue surplus over last 5 yrs: CAG report on finances
New Delhi: The Delhi government has maintained a revenue surplus over the last five years, a CAG audit report on state finances tabled in the Assembly on Monday said.
The audit report by the Comptroller and Auditor General (CAG) for the year ended March 2018 noted that tax revenue and non-tax revenue also registered an increase of 14.70 per cent and 101.05 per cent respectively over the previous year.
The report was tabled in the House by Deputy Chief Minister Manish Sisodia.
"The government of National Capital Territory of Delhi (GNCTD) has maintained a revenue surplus over the last five years from 2013-14 to 2017-18," it stated.
The grants in aid received by Delhi from the Centre decreased from Rs 2,825 crore (2016-17) to Rs 2,184 crore (2017-18). This included grants from Centre in lieu of share in central taxes which has remained stagnant at Rs 325 crore since 2001-02 although the central tax collections have grown substantially since 2001-02, the report pointed.
Delhi government led by Chief Minister Arvind Kejriwal has been consistently demanding that the Centre raise its share in central taxes.
The Delhi government till March 31, 2018 had invested Rs 19,173 crore in statutory corporations, rural banks, joint stock companies and co-operatives on which it received 0.8 per cent return. However, it paid interest at an average rate of 8.58 per cent on its borrowings during 2017-18. The report also pointed to 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 crore disbursed to Delhi Jal Board during 1998-2018, Rs 351.16 crore was repaid leaving Rs 26,268.89 crore outstanding as on March 31, 2018. DTC that was disbursed Rs 11,837.69 crore during 1996-2011, paid Rs 161.55 crore til March 31,2018.
The three municipal corporations-North, East and South Delhi Municipal Corporations- had outstanding loans of Rs 2,037.54 crore, Rs 1,395.90 crore and Rs 381.45 crore, respectively, till March 31, 2018, stated the report.
As per the CAG report the overall fiscal liabilities of Delhi government were Rs 33,569 crore in 2017-18. The fiscal liabilities were 4.89 per cent of gross state domestic product (GSDP), 86.81 per cent of revenue receipts and 92.01 per cent of Delhi's own resources.
The fiscal deficit of Rs 1,051 crore in 2016-17 turned to fiscal surplus of Rs 113 crore in 2017-18 and stood 0.02 per cent of GSDP, it added.
The report also underlined "substantial delays" in submission of utilisation certificates by various grantee institutions, fund surrenders involving Rs 1,249.81 crore, in 2017-18, it said. The report noted significant amounts of expenditure and receipts booked under "other" categories, affecting "transparency" in financial reporting.