DELHI
BUDGET 2013-14: HIGHLIGHTS
Chief
Minister Sheila Dikshit on
20th March 2013 presented budget for 2013-14 with a spate of schemes
for various sections and infrastructure development and no fresh taxes.
The main
highlights of budget are:
Sales Tax
·
A
new facility of online registration under the Delhi Value Added Tax Act and
the
Central Sales Tax Act has been proposed.
· A
uniform tax period for all the dealers irrespective of their turnover, i.e.
quarterly. Hence all the dealer has to file four return instead of 12.
· Additionally,
the dealers won’t be required to submit hard copies of the entire VAT Returns;
instead they will file only the copy of acknowledgement of the Return
downloaded by them.
·
Threshold
limit for Registration under VAT from Rs. 10 lakh to Rs. 20 lakh.
· To
encourage dealers to voluntarily admit their tax liability, It is propose that,
subject to depositing the tax due, penalties upto 80% of admitted tax would be
automatically mitigated, even in cases where field inspections are carried out.
· Work
contract dealers are required to maintain quite elaborate records for purpose
of VAT compliance. Under a new composition scheme w.e.f April 1, 2013, dealers
would be allowed to pay a tax based on their overall turnover
·
VAT
Reduced:
Ø On Eco- Friendly LED lights from 12.5% to 5%.
Ø On Desi Ghee from 12.5% to 5%.
· ·
Vat
Waived For:
Ø chilly spray used
for woman's self defence,
Ø pencil/ geometry
boxes and on charki and manza used for flying kites
Ø Organic colours, Singhada
(water-chestnut),kuttu and their atta, sendha namak
Ø Footwear priced up
to Rs.500 exempted from VAT.
Ø Refused Derived
Fuel.
Ø Tiles and kerbstones which are made from
malba.
Note:-
Tiles and kerbstones not made from malba will continue to be taxed at 12.5%.
Economic Scenario
· Gross
State Domestic Product (GSDP) of Delhi is on track to grow at 9% compared to 5%
for the country. The
contribution of Delhi in the national GDP is 3.8% though we are only 1.4% of
the total population.
· The
Per Capita Income of Delhi now stands at Rs. 2,01,083 in 2012-13. It has gone
up 5 times since this Govt. took up. In 1998-99, when the per capita income was
Rs. 40,060
Financial Position
· Our
Tax-GSDP ratio is expected to increase to 6.88% in 2012-13 which was 6.43% in
2011-12.
Debt Position
· The
outstanding debt of Delhi is 7.89% of GSDP in 2012-13, which is the lowest
among all the states in the country. Our loan has come down from Rs.30,140 crore
in March, 2011 to Rs. 28,888 crore by March, 2013.
Fiscal Deficit
· Fiscal
Deficit has been projected to reduce to Rs. 1268 cr. in 2013-14 from Rs. 2921
in 2012-13.
Expenditure
· The
total proposed expenditure for the year 2013-14 is Rs. 37,450 crore. It
includes Rs. 21,000 crore non-plan expenditure, Rs. 16,000 crore plan
expenditure and Rs. 450 crore under centrally sponsored schemes.
· Total
proposed expenditure has been financed
by Rs. 30,454 crore from tax revenue, Rs. 913 crore from non-tax revenue,
capital receipts of Rs. 4113 crore, grant-in-aid of Rs. 2701 crore from Central
Government. We will be left with a surplus of Rs. 731 crore.
· Out
of the total proposed plan outlay of Rs. 16,000 crore 65% is reserved for social
services sectors proposed i.e Rs. 10,359 crore.
Major Programm for
Social Security And Welfare
· A
scheme “Dilli Annshree Yojana” has been launched. 31,617 beneficiaries of this scheme
have been covered till mid-March under this Direct Benefit Transfer
Aadhar-linked bank account scheme. Cash @ Rs. 600 per month has already been
transferred to these beneficiaries with effect from April, 2012. Govt. has decided to extend the period up to 31/07/2013,
so that all who are enrolled by then would get the benefit from April 2012.
· A
new scheme, the Dilli Swavalamban Yojana (DSY) has been launched as a
co-contributory pension scheme for those in unorganized sector. In this scheme
the state and Central Govt. will contribute Rs. 1,000 each per annum along with
a contribution not exceeding Rs. 12,000 from the subscriber.
· Govt.
propose to enhance the annual grant from Rs.1 crore to Rs. 2 crore during the
year 2013-14 to Delhi Haj Committee for facilitating the Haj pilgrimage.
·
Rs.5 crore funds is
set aside for the welfare of journalists of Delhi.
· One-time grant of
Rs.100, 000 to RWAs which offer to provide house essential equipment and open
the facility to public at no profit no loss basis.
· Rs.150 crore to
improve level of civic services in industrial estates.
· Financial support of Rs.1, 000 per
month for transgender living in Delhi for at least 3 years.
· Monthly aid of Rs.1, 500 for senior
citizens, differently-abled person and women in distress.
Health
· Rs.
2,490 crore in 2013-14 has been allocated to Health Sector as compared to Rs. 1,872
crore in 2012-13 i.e an increase of 33%.
· 100 new ambulances
to be procured for Centralized Accident & Trauma Services (CATS).
· It
has been propose to raise the income criteria of beneficiaries under Delhi
Arogya Kosh from Rs. 2 lakh p.a to Rs. 3 lakh p.a from 1/04/2013.
· The
construction work of 7 new hospitals and 9 new dispensaries during 2013-14 is proposed.
Education
·
Rs.
1,901 crore in 2013-14 has been allocated to Education Sector.
· The
award amount increased for teachers under Indira Gandhi and State Award schemes
to Rs. 25,000, and for the best students from Rs. 2,100 to Rs. 5,000.
·
Five new Rajakiya
Pratibha Vikas Vidyalaya (RPVV) and one RPVV exclusive for science. Thirty-four
new school buildings to be completed in 2013-14.
·
An MOU is signed
with Singapore for setting up Skill Development Centre to come up at Jaunapur
by the year 2015.
· Meanwhile a Skill Development Centre at ITI
Vivek Vihar Complex w.e.f. July, 2013 will start. About 640 youth will be admitted
in different courses of one year duration for two sectors of Hospitality and
Retail Merchandising.
·
Guru
Gobind Singh Indraprastha University will start a new course for B. Com.
(Hons.) from 2013-14. Delhi College of Engineering has been upgraded to Delhi
Technological University.
· Residential school for scheduled
castes/Scheduled Tribes/other backward class/minorities students.
Housing and Urban
Development
·
Two
new projects for construction of 8420 EWS houses at a cost of Rs. 465 cr at
Tikri Kalan and for construction of 240 EWS houses at a cost of Rs. 22 cr has
been approved under JNNURM.
·
Ownership
rights to the original allottees of all 45 JJ Resettlement colonies.
Water Supply
·
A new water treatment plant of 31 MGD at Palla.
Transport
·
Delhi Metro Phase-III, scheduled to be completed in 2016
and will add 103 km to the existing network.
·
Procurement of 625 low floor and 1100 semi-low floor buses
for DTC.
·
8000 new auto
rickshaws for corporate houses on the lines of radio taxis.
Enegry
·
It is proposed to increase the transformation capacity to
16,000 MVA by the end of the year.
Regards
CA. Mona Singhal
Partner
Arpit Gupta & Associates
Chartered Accountants
701, Nirmal Tower,
26, Barakhamba Road,
Connaught Place, Delhi-110001
Mobile:- +91-9873082769
Website: www.caaga.co.in
