Delhi CM tables FY24 report; revenue surplus drops by 55%

New Delhi, Aug 4 (PTI) – The Delhi government’s revenue surplus for 2023-24 fell by 55.3% compared to the previous fiscal, according to a Comptroller and Auditor General (CAG) report tabled in the Assembly by Chief Minister Rekha Gupta during the Monsoon session on Monday.

Gupta presented the CAG’s reports on Delhi’s Finance Accounts and Appropriation Accounts for the fiscal year 2023-24. The report highlighted a drop in revenue receipts despite a steady rise in the gross state domestic product (GSDP). Delhi’s GSDP at current prices grew at an average rate of 8.79% over the last five years, increasing from ₹7.93 lakh crore in 2019-20 to ₹11.08 lakh crore in 2023-24. In the last fiscal alone, GSDP rose by 9.17% over the previous year.

Additionally, the report noted that Delhi’s budget outlay rose at an average annual rate of 7.14%, from ₹64,180.68 crore in 2019-20 to ₹81,918.23 crore in 2023-24. However, the revenue surplus dropped sharply from ₹14,457 crore in 2022-23 to ₹6,462 crore in 2023-24.

On a positive note, the fiscal deficit narrowed to ₹3,934 crore in 2023-24 from ₹4,566 crore in the previous year.

The CAG report offered a detailed overview of the Delhi government’s financial performance, including its fiscal management, budgeting efficiency, quality of accounts, and financial reporting practices for the year.