Sunday, June 21, 2009

Delhi budget to be presented on Monday

Delhi Government may go in for some "harsh measures" to overcome the effects of global meltdown when it unveils its budget on Monday even as it is mulling enhancing social sector spending.

Delhi Finance Minister A K Walia, who is presenting his sixth consecutive budget, is also expected to allocate extra money for infrastructure projects relating to next year's Commonwealth Games.

The officials indicated that as revenue collection fell by over Rs 1,300 crore during the year 2008-09 the Government might take some "harsh measures" to improve its financial position.

The budget may touch upon the contentious issue of whether to continue with Rs 200 crore yearly subsidy to power discoms, which is given to keep the tariff level at the level of 2004-05. The subsidy period had expired on May 31.

With the financial health of Delhi Jal Board (DJB) and the Delhi Transport Corporation (DTC) not in good shape, the budget could also see an announcement of increase in water and transport tariff.

If these "harsh measures" are implemented, Delhiites will have to shell out more money from their pockets.

However, the officials involved in budget preparation indicate that there could be an increased allocation of funds for various social welfare schemes.

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