The Delhi government today presented the budget for the coming financial year, dubbing it as 'Rozgar Budget' that aims at restarting and strengthening economic growth and generating 20 lakh new jobs.
Delhi Finance Minister Manish Sisodia presented the budget, stating that it was an agenda to create new jobs for the people of Delhi and to boost economic recovery from the damage caused in recent years due to COVID-19, GST and demonetisation.
“The schemes and proposals presented in this budget will not only provide new entrepreneurship opportunities to the youth of Delhi, but will also benefit the already established enterprises and businesses,” he said.
Sisodia said the economy of Delhi is slowly emerging from the impact of COVID-19 and the gross state domestic product (GSDP) of the state at current market prices is likely to increase from Rs 7,85,342 crore in 2020-21 to Rs 9,23,967 crore in 2021-22, which is an increase of 17.65 per cent. The real growth rate of Delhi's GSDP, he said, is likely to be 10.23 per cent whereas at the national level, this growth rate is estimated to be 8.9 per cent.
The contribution of Delhi's real GSDP to GDP at the national level has increased from 3.94 percent in 2011-12 to 4.21 percent in 2021-22, whereas Delhi is only 1.52 percent of the total population of the country.
Delhi's per capita income is likely to increase to Rs 4,01,982 at current prices in 2021-22. In 2020-21, it was Rs 3,44,136, which is an increase of 16.81 per cent in per capita income in 2021-22.
The Revised Budget Estimate for 2021-22 is Rs 67,000 crore against the approved Budget Estimate of Rs 69,000 crore. The proposed Revised Estimates of Rs 67,000 crore is 27.70 per cent higher than the actual expenditure of Rs 52,468 crore in 2020-22
Sisodia said that prior to the Arvind Kejriwal government coming to power, the total expenditure of the state government during 2014-15 was Rs 30,940 crore. “I presented my first full budget in June 2015 with an estimated expenditure of Rs 41,129 crore,” he said.
The proposed Budget Estimate for 2022-23 is Rs 75,800 crore, 9.86 per cent higher than the Budget Estimate of Rs 69,000 crore for 2021-22 and 13.13 per cent higher than the Revised Estimates. The budget of Rs 75,800 crore for 2022-23 is about two-and-a-half times the expenditure of Rs 30,940 crore in 2014-15.
In Budget Estimates 2022-23 as compared to 2021-22, capital budget has been increased by 29 per cent, while revenue expenditure has increased by only four percent.
“In the budget proposals and schemes presented in this House in the past seven years, the priority was on education and health and it is due to this reason that Delhi has witnessed visionary investments in education and health. Now I want to present the important section of our 'Rozgar Budget' containing 20 lakh new jobs. In this, I will put plans to take the economy of Delhi on the path of progress and generate lakhs of employment opportunities out of this progress,” Sisodia said.
He said the aim is to increase the percentage of the working population of Delhi from the current 33 per cent to 45 per cent in the next five years.
The government has chosen the sectors of retail, food and beverages, logistics and supply chain, travel and tourism, entertainment, construction, real estate and green energy as priority areas where employment can be increased.
“We plan to redevelop and transform the iconic markets of Delhi into attractive tourist destinations. For this, we propose Rs 100 crore in the budget. At least 1.5 lakh new job opportunities will be created in the next five years from within just five markets,” Sisodia said.
The government plans to hold a 'Delhi Shopping Festival' as also a 'Delhi Wholesale Shopping Festival'.
An online platform called Delhi Bazaar will be launched where local merchants can sell their wares online.
