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Delhi's financial position sound, ready to repay Rs 6000 cr loan

By Staff
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New Delhi, Apr 17 (UNI) Delhi Finance and Planning Minister A K Walia today said revenue receipts in Delhi had gone up by 26 per cent in the last fiscal.

Collection of revenue receipts touched Rs 8,939 crore in year 2005-2006 whereas it was Rs 7,106 crore in year 2004-2005, he said.

The maximum increase of 52.43 per cent was recorded in taxes on vehicles followed by 45.72 per cent in other taxes and duties on commodities and services, 25 per cent in VAT, 23.84 per cent in stamps and registration, 21.47 per cent in State Excise and 12.63 per cent in taxes on goods and passengers, he added.

This had become possible only because of trader-friendly and pragmatic economic policies of the state government, Dr Walia said.

He disclosed that the financial position of Delhi government was much sound today as compared to last seven years, hence the state government had decided to repay loan amounting to Rs 6,000 crore which was not being utilised presently.

Delhi Government was being charged an excessive amount due to interest on loans. And so it had been requesting the union government to stop releasing its share out of small savings.

The amount of Rs 6,000 crore also related to share from small savings. An amount of Rs 20,000 crore had been accumulated as loan from this head.

The City Government would continue persuading the central government for accepting early repayment of loan amount, he added.

UNI IP RA KN2015

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