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Capital Gets a Big CWG hike, Rs 9,000cr Outlay ApprovedBy Mrs Gupta, Section CommonWealth Games 2010
The Planning Commission today recommended a planned outlay of Rs 9,000 Crore for the Capital for 2007-2008. While the Delhi government had proposed Rs 7,200 Crore expenditure, the commission has recommended that the government increase its expenditure in this financial year by another Rs 1,800 Crore.
"The recommendation to increase expenditure in the state has been made in light of the fact that Delhi's economic growth has been a steady 1820 per cent annually. Also because there are a number of major infrastructure projects that Delhi needs to complete as soon as possible, " Delhi's Principal Secretary (Finance) V VBhatt says. Bhatt says the recommendation of the Commission has been to spend more on "priority projects", or the major infrastructural projects, in bulk and at one go instead of phasing the expenditure over the next three years for the Commonwealth Games.
Top most on the government's list is cleaning and beautifying the Yamuna, implementing the High Capacity Bus System which had been delayed for years now, restructuring existing transport corridors and setting up Pragati II and II and revamping other existing power plants to boost Delhi's own power generation.
Government officials further point out that the revenue collection of the state government has also been on the rise varying between 18-20 per cent annually. The proposed planned outlay for last year for example was Rs 5,200 which has increased to Rs 7,200 this year. "Our main revenue generators include Value Added Tax and excise. The government earned around Rs 6,000 Crore through VAT last year. This year we expect to earn over Rs 7,400 Crore through VAT..." Bhatt said. SOURCE-(TIE,6/03/07)
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