According to a CAG audit report presented to the Assembly on Tuesday, despite maintaining a revenue surplus, the Delhi government’s debt climbed by about 7% in the four years leading up to 2019–20.
According to the report, the debt climbed by Rs 2,268.93 crore (6.98%) from Rs 32,497.91 crore at the start of 2015–16 to Rs 34,766.84 crore at the end of 2019–20.
On the other hand, the report also stated that the Delhi government’s revenue surplus for 2019–20 was Rs 7,499 crore, showing that its tax receipts were adequate to cover its revenue expenditure.
However, it was noted that the central government’s payment of the employees’ pension responsibilities and the Union Ministry of Home Affairs’ funding of the Delhi Police’s expenses allowed the Delhi government to retain the income surplus in major parts.The government of Delhi lacks the authority to obtain loans on the open market. According to the report, the Government of India’s loans and advances make up its debt receipts.
Due to investments made in Delhi Metro Rail Corporation Ltd., there was an increase in investment in 2019–20 over the prior year of Rs 150 crore. The CAG report stated that while the government paid interest at an average rate of 8.14 percent on its borrowings during 2019–20, the return on investment was only 0.08 percent.
Manish Sisodia, the deputy chief minister, delivered the Comptroller and Auditor General (CAG) report of the year 2021 on public finances for the year ending March 2020 in front of the Assembly.Chief Minister Arvind Kejriwal claimed on Wednesday that the CAG report, which said that the Delhi government was operating in profit, was the “greatest proof of its honesty.”
Harish Khurana, a member of the Delhi BJP, described the CAG report as eye-opening. He said that no money was spent on development projects and that Delhi’s budget was always out of balance.
