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Dip in revenues in first quarter has Delhi government worried

With a shortfall of around Rs 168 crore in revenue recorded between this April and July,the first quarter of the financial year already has the Delhi government worried.

Written by Express News Service | New Delhi |
August 28, 2009 12:11:55 am

With a shortfall of around Rs 168 crore in revenue recorded between this April and July,the first quarter of the financial year already has the Delhi government worried.

While revenue collection amounted to Rs 4344.65 crore by July 2008,this year,the collection in the corresponding period is Rs 4176.03 crore.

According to Finance Minister A K Walia,the Finance department has registered a dip in collections from stamp duty registration. While last year,the government had recorded a 40.2 per cent dip mainly due to the economic slowdown,the slump so far is 0.29 per cent: the collection this year amounts to Rs 292.20 crore.

Apart from the global meltdown,swine flu and the strike by multiplexes in April has also affected revenue collection in tourism and hospitality and entertainment sectors,Walia said. Compared to last year,the collections have fallen by about 52 per cent,he added.

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The good news is that collection from the State Excise has gone up from Rs 433.75 crore to Rs 455.51 crore,recording an increase of 5.02 per cent. Collections from VAT have also marginally increased from Rs 3209.42 crore to Rs 3216.14 crore.

The minister said he has called for transparency and curbing of tax evasion to ensure that the remaining eight months help overcome the shortfall. Last year,Walia said,the government had managed to collect about Rs 13,840 crore,facing a shortfall of Rs 1,600 crore,mainly due to the economic slowdown.

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