Per Capita Income Of Delhiites Up, Govt Tax Collection On The Rise: Eco Survey
The Economic Survey is a key pedagogical source if you are keen to know about the economy. The Delhi Economic Survey 2017-18 tabled recently by Deputy Chief Minister and Finance Minister Manish Sisodia chalked out the status of Delhi amid developments and developmental budget.
Here are some of the interesting findings:
Plan to boost revenue
In this year, the Delhi government is looking at a revenue collection of Rs 42, 216 crore. In the last financial year, it received Rs 34,345 crore. In 2015-16, while the projected growth target was 13.61 per cent, the recovery was 3.03 per cent in 2015-16.
Per-capita income on the rise
There is a rise of 9.4 per cent when it comes to the incomes of the residents of the national capital. In 2016-17, it was Rs 3,00,793 while it stands at Rs 3,29,093 in the current year – thrice the national average.
It is good news that “Delhi has maintained its consistent revenue surplus,” the survey said. Although the revenue has fallen from Rs 8,656.30 crore in 2015-16 to Rs 3,789.09 crore in 2017-18, it is still 0.55 per cent of the Gross State Domestic Product (GSDP).
Tax collection is up
While the Economic Survey tabled earlier this year talked about how 1.8 million new taxpayers have been added post 2016, Delhi also records a growth per cent of 19.33 per cent in 2017-18, up from 3.03 per cent in 2016-17.
Delhi’s transport department has seen a seven per cent increase in the number of vehicles. At a time when vehicular pollution is on the rise, this development speaks of extra caution and need for rules in place to curb the impact. Meanwhile, public transport such as buses recorded an eight-year low. It dipped to 4,027 last year. In 2018, the target is to increase the number of buses in Delhi to 10,000.
However, the Metro network in Delhi, after the completion of Phase III, will boast a coverage of 350 km while the ridership is expected to touch 40 lakh from 28 lakh, not just connecting the city better but also decongesting the roads. A report suggests that the average ridership on the Delhi Metro has increased and by the end of 2018, the projected rise is 42.9 per cent.
There are also some odds in the Survey that the Delhi government needs to address. For instance, for 16 per cent of Delhiites, access to piped water supply is a luxury they haven’t yet seen. Last year, the authorities had promised water supply to across authorised and unauthorised colonies. However, the Delhi government has made sure that water supply has been made available in 1,209 unauthorised colonies, but, the remaining 16 per cent need attention.
With inputs from Housing News