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Tax collection in Delhi grew at 2.64% in 2014-15

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Tax collection of Delhi government registered a growth of 2.64 per cent in 2014-15 down from 10.61 per cent in 2013-14, as per the Economic Survey tabled by the government on Wednesday. As per the survey, stamps and registration fees recorded negative growth of 4.34 per cent in 2014-15. Tax collections under Motor Vehicle Tax, State Excise and VAT recorded a growth of 10.61 percent, 8.59 percent and 2.03 percent respectively. Luxury Tax, Entertainment Tax, Betting Tax, etc registered a growth of 6.2 per cent during 2014-15. Entertainment tax including Cable TV Tax recorded the lowest growth of 3.28 per cent during 2014-15.

The fiscal deficit of Delhi during 2014-15 was at Rs 221.25 crore which is 0.049 per cent of GSDP as compared to the estimated all states figure of 2.35 percent of GDP during 2014-15 (BE). Unlike earlier Central Finance Commissions, Delhi has not been covered under the recommendations of 14th Central Finance Commission (14th CFC) whose term covers the period from 2015-16 to 2019-20, thus losing out on dispensations like share in Central Taxes, Grants-in-aid for Local Bodies on account of basic and performance grants, grants for Calamity Relief, revenue deficit gap grants etc. Now, Delhi only gets discretionary grants in lieu of share in Central Taxes and that too is stagnant at Rs 325 crore since 2001-02.

Source Moneycontrol http://www .moneycontrol . com/news/economy/tax-collectiondelhi-grew-at-2642014-15_1640721.html

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