Delhi's Revenue Surplus Plummets by 55% Under AAP's 2023-24 Governance
The Delhi government's revenue surplus fell by 55% in 2023-24 under AAP governance compared to the previous fiscal year, as reported by the CAG. Despite declining revenue receipts, the GSDP grew by 9.17% from the previous year, reflecting an average growth of 8.79% over five years.
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The revenue surplus of the Delhi government under the AAP for the fiscal year 2023-24 experienced a startling 55% decline compared to the previous year, according to a CAG report tabled during the Monsoon session of the assembly by Chief Minister Rekha Gupta on Monday.
The Comptroller and Auditor General (CAG) report highlighted the financial performance of the Delhi government, indicating a drop in revenue receipts even as the Gross State Domestic Product (GSDP) increased at an average rate of 8.79% over the past five years.
Despite these challenges, the budget outlay for Delhi rose with an average growth rate of 7.14%. The report raises concerns about fiscal stress due to a mismatch between revenue and expenditure, as indicated by the decreasing fiscal deficit and increasing revenue expenditure.
(With inputs from agencies.)
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