You are here: Home » PTI Stories » National » News
Business Standard

Vehicle tax collection in Delhi shows negative growth of 2.88 pc: Economic Survey

Press Trust of India  |  New Delhi 

The collection of motor vehicles tax in Delhi has shown a negative growth of 2.88 per cent, even as the city maintained its consistent revenue surplus at Rs 6,261 crore during 2018-19, the Economic Survey stated on Monday.

According to the Delhi Economic Survey tabled by Deputy Chief Minister Manish Sisodia, the state excise department recordedthe highest growth of 12.90 per cent in 2018-19 (provision).

Tax collections under stamp and registration tax, including land, revenue; GST, including VAT and other taxes of luxury and entertainment etc., recorded a growth of 8.26 per cent and 0.21 per cent respectively.

The government had an outstanding debt of Rs 29,608.31 crore in 2011-12,which was equal to 8.61 per cent of its Gross State Domestic Product (GSDP).

"In 2018-19, with outstanding debt ofRs 32,732 crore as on March 31, 2019, the debt GSDP ratio had declined substantially to4.22 per cent," it stated.

The ratio of interest payment to revenue receipts also got declined to 6.63 percent in 2018-19 from the high ratio of 13.03 per cent in 2011-12.

"This clearly indicates that the debt problem is well under control. Delhi Government received a small saving loan of Rs 2,800 crore during 2018-19 as against Rs 1,906.34 crore received during 2017-18," it stated.

Talking about revenue surplus, the survey said, "Delhi has maintained its consistent revenue surplus which was Rs 6,261 crore during 2018-19 (provision) as compared to Rs 4,913 crore during 2017-18."

Delhi's revenue surplus was 0.81 per cent of GSDP during 2018-19 and 0.58 per cent during 2019-20 (BE).

It stated that at present, Delhi only gets discretionary grants in lieu of share in central taxes and that too is stagnant at Rs 325 crore since 2001-02.

The normal central assistance to the Delhi government during 2000-01 was Rs 370 crore, and even after 19 years, it has remained as Rs 472 crore in 2019-20.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 24 2020. 01:04 IST