more-in Delhi’s gross state domestic product (GSDP) at constant prices was estimated to grow by 8.14% in 2017-18 in comparison to the previous financial year, according to the Economic Survey of Delhi 2017-2018. The report was tabled by Deputy Chief Minister and Finance Minister Manish Sisodia in the Delhi Assembly on Monday. It stated that the advance estimate of GSDP at constant prices for this financial year was ?5,56,800 crore, an increase of 8.14% since 2016-17. The estimated growth was lower compared to the growth from 2015-16 to 2016-17, which was 8.61%. The survey estimated Delhi’s per capita income at current prices to increase to ?3,29,093 in 2017-18 from ?3,00,793 in 2016-17. At current and constant prices both, Delhi’s per capita income was nearly three times the national average, the report said. For the government, tax collection was estimated to increase by 19.33% in 2017-18 compared to the previous year. “Delhi has maintained its consistent revenue surplus”, the survey said. However, the revenue surplus was estimated to reduce for a third year, to ?3,789.09 crore in 2017-18, from ?5,043.83 crore in 2016-17 and ?8,656.30 crore in 2015-16. The estimated revenue surplus would be 0.55% of the GSDP. ‘Debt under control’ All components of tax revenue, apart from “other taxes on goods and services”, were estimated to increase in 2017-2018. The taxes that were estimated to increase include stamps and registration fees, State excise and motor vehicle tax. The Delhi government’s debt for 2016-17 was 5.41% of the GSDP at ?33,344.80 crore, which included a ?3,326.39 crore non-plan loan from the Centre received in 2013-14. The survey said the debt situation was under control. “The ratio of interest payment to revenue receipts also reduced to 8.39% in 2016-17 from as high as 16.79% in 2007-08,” the report said. In addition, the Delhi government received a small saving loan of ?1,695.53 crore in 2016-17. The report said that that the Delhi government had a fiscal deficit of ?1,050.51 crore in 2016-17, as opposed to a fiscal surplus of ?1,321.92 crore in 2015-16. “Thus, the overall expenditure of Delhi in 2016-17 was marginally higher than its income,” the report said. The government continued to prioritise education when it came to spending in 2017-18, with 19.1% of the budget being allocated for the sector. Social security and welfare got 16.7%, transport 16.5%, medical and public health 14.2%, and housing and urban development 12.8%. The top five was rounded off by water supply and sanitation, which got 9.5% of the budget allocations.

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