Delhi Budget to be presented today; economic survey pegs growth at 11.22%

New Delhi: Delhi Deputy Chief Minister Manish Sisodia, who also holds the Finance portfolio, will present the 2018-19 budget on Thursday.

The budget session of the Delhi Assembly began on Friday and continue till March 28.

Economic Survey of Delhi was presented in the Assembly on March 19.The Delhi government has pegged the size of the Gross State Domestic Product (GSDP) at Rs 6.86 lakh crore for 2017-18, which is at a growth rate of 11.22 percent over the last fiscal.

The latest economic survey of the national capital has estimated that the city's per capita income was almost three times of the national average, both at current and constat prices.

The advance estimate of the Net State Domestic Product (NSDP) of Delhi at current prices is likely to attain a level of Rs 6,26,002 crore in 2017-18, which is estimated to grow at 11.51 percent over 2016-17, it said.

The survey also said that around 75 percent existing value added tax (VAT) dealers have migrated to Goods and Services Tax (GST) up to December 2017.

The Delhi Legislative Assembly had passed the State Goods and Services Act on May 31, 2017 and thus GST rolled out in Delhi with effect from July 1, 2017.

Also, the national capital has maintained its consistent Revenue Surplus which was Rs 5,044 crore in 2016-17 (provisional) as compared to Rs 8,656 crore in 2015-16.

With Agency Inputs