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LATEST NEWS UPDATES | Delhi Govt presents Rs. 48,000-cr Budget for 2017-18

Delhi Govt presents Rs. 48,000-cr Budget for 2017-18

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published Published on Mar 8, 2017   modified Modified on Mar 8, 2017
-PTI

New Delhi: A Rs. 48,000-crore Budget for the national capital was presented today by the AAP Government, laying major focus on improving transport, health, water distribution and education infrastructure.

In its third Budget, the Arvind Kejriwal Government abolished the Plan and non-Plan expenditure heads and presented it in terms of revenue and capital classification in line with the Centre’s decision.

There was no proposal on levying any new tax.

'Outcome budget'

In a first, Deputy Chief Minister Manish Sisodia, who holds the finance portfolio, also presented an “outcome budget” which he said would act like a “contract” between the Government and the people.

Sisodia asserted that the economy of the state will grow “despite demonetisation''.

At the same time, he said note ban has led to contraction in the city’s estimated GSDP for the ongoing financial year (at constant prices) although it will still be higher than the projected growth at the national level.

At current prices, the national capital’s economic growth has been pegged at 12.76 per cent.

“When we allocate money for skywalk, merely constructing it would not be counted as success. Its success would depend on how many people actually use it. That in a nutshell explains the objective of the outcome component,” he said.

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The Hindu Business Line, 8 March, 2017, http://www.thehindubusinessline.com/news/national/delhi-government-presents-rs-48000-crore-budget-for-201718/article9575478.ece?homepage=true


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