In a recent address, Atishi Marlena, the Finance Minister of Delhi and a senior leader of the Aam Aadmi Party (AAP), unveiled a series of remarkable fiscal achievements and projections for the national capital. As the nation grapples with economic challenges, Delhi’s financial landscape presents a beacon of hope and efficient governance.
Inflation Management:
Marlena highlighted Delhi’s commendable inflation management, with the inflation rate pegged at 2.81% for January-December 2023, significantly below the national average of 5.65% during the same period. This underscores the government’s commitment to stabilizing prices and ensuring affordability for its citizens.
Surplus State Government:
Delhi’s fiscal prudence shone through as the revenue surplus surged to ₹14,457 crore in 2022-2023 from ₹3,270 crore in the preceding fiscal year. Notably, the Delhi government, under the leadership of Chief Minister Arvind Kejriwal, stands as the sole surplus state government in the country—a testament to its sound financial management practices.
Growth Trajectory:
The projections for Delhi’s Gross State Domestic Product (GSDP) paint a picture of robust economic growth, with an anticipated increase of 9.17% year-on-year, reaching ₹11,07,746 crore in 2023-24. This growth trajectory reflects the resilience and dynamism of Delhi’s economy amidst evolving global and national economic landscapes.
Per Capita Income Surge:
A notable highlight is the remarkable surge in Delhi’s per capita income, which witnessed a staggering 22% rise over two years—from ₹3,76,217 in 2021-2022 to ₹4,61,910 in 2023-2024. This substantial increase underscores the improving standards of living and economic well-being of Delhi’s residents.
Budgetary Priorities and Extension of Assembly Session:
The announcement of the upcoming budget for 2024-25 on March 4th signals the government’s proactive approach towards addressing emerging fiscal challenges and advancing key developmental initiatives. The extension of the assembly session, necessitated by a delay in budget finalization, underscores the government’s commitment to transparency and thorough deliberation in fiscal matters.
Continued Focus on Infrastructure:
In a bid to bolster infrastructure development, the previous budget allocated ₹21,000 crore for infrastructure projects—a testament to the government’s vision for enhancing livability and connectivity in the national capital.
As Delhi navigates the complexities of economic governance, Atishi Marlena’s insights offer a glimpse into a thriving fiscal ecosystem characterized by prudent management, inclusive growth, and visionary leadership. The upcoming budgetary deliberations hold the promise of further catalyzing Delhi’s journey towards becoming a model of economic resilience and prosperity.
