Delhi revenue collection falls due to economic slowdown. A fall of Rs 1300 crore was reported.
The economic slowdown has impacted the revenue collection in the national capital as the Delhi government reported a fall of over Rs 1,300 crore in tax revenue during the year 2008-09.
As per the official figures, the government collected Rs 900 crore through stamps and registration fees as against budget estimate of Rs 1,620 crore. Similarly revised estimate for VAT collection was recorded at Rs 9,300 crore against the budget estimate of Rs 9,800 crore.
"The economic slowdown has seriously affected the revenue collection in Delhi," Finance Minister A K Walia told reporters after he presented an interim budget outlaying Rs 5,000 crore for three-month period for 2009-10.
The interim budget was passed by the state Assembly amidst protest and walkout by the Opposition BJP. Walia said Government collected Rs 470 crore through taxes on motor vehicles as against budget estimate of Rs 500 crore. The luxury tax collection also fell short of the budget estimate as revised estimate stood at Rs 390 crore as against budget estimate of Rs 432 crore.
The Finance Minister said total revised estimate for tax revenue has been recorded at Rs 12,523 crore against budget estimate of Rs 13,840 crore.
