The revenue collection has dipped beyond expectation and sources claimed even the revised target is difficult to achieve by March 31 and the Government could end up securing revenue collection to the tune of around Rs 26,000 crore against the official target of Rs 27,000 crore.
The legacy of the previous government in terms of strong financial earnings has been dented. For Delhi Government, VAT alone provides two third of the total revenue. In 2012-13, the target for VAT was Rs 17,500 crore which has been achieved. Buoyed at the robust financial earnings, the target for 2013-14 had been fixed at Rs 19,500 crore. But only Rs 14,000 crore has been collected through VAT collection till January 31 and therefore, the Delhi Government has been lenient to reduce the target from Rs 19,500 crore to Rs 18,200 crore.
All other major departments — excise, transport and stamp duty collection have shown similar trend. The target of revenue from excise duty collection was fixed at Rs 3,500 crore for this fiscal which has been reduced to Rs 3,200 crore. The target for stamp duty collection had been fixed at Rs 5,800 crore till March 31 which has been reduced to Rs 3,800 crore. Transport department’s target of revenue earning had been fixed at Rs 1,600 crore which has been brought down Rs 1,400 crore.