International Journal For Multidisciplinary Research

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The State of Fiscal Health of NCT of Delhi

Author(s) Khushboo Gupta
Country India
Abstract India's recent claim to the top spot as the world's most populous nation highlights a growing trend - the rise of megacities. Delhi, the vibrant capital, is projected to become the world's most populous urban area by 2028, surpassing Tokyo. This rapid growth, fueled by economic powerhouses like Delhi, brings both opportunities and challenges. Delhi serves as a major job magnet, attracting talent and generating a significant GDP of Rs. 923,966 crore in 2021-22. However, this success story is not without its complexities. There are a lot of challenges that Delhi has to face, some of which includes tackling the problem of increasing income inequality, poor quality of air, land and water pollution, ever growing cost of land and infrastructure, lack of natural resources and institutional coordination barriers. Despite these challenges, Delhi demonstrates responsible financial management. The Delhi Finance Commission has maintained a revenue account surplus since 2010-2022, reflecting sound fiscal planning. The capital account, while mostly in deficit, showed a surplus in 2020-21 due to increased central government loans. However, Delhi's debt is well-managed, with declining debt-to-GSDP and interest payment ratios since 2011. The government has prioritized critical areas through increased spending on healthcare, education, skill development, and infrastructure. This investment in human capital and infrastructure development is crucial for Delhi's long-term prosperity.
Keywords Deficit, surplus, finance, outstanding debt, interest payments, domestic products, economic reforms.
Field Sociology > Economics
Published In Volume 6, Issue 3, May-June 2024
Published On 2024-06-17
Cite This The State of Fiscal Health of NCT of Delhi - Khushboo Gupta - IJFMR Volume 6, Issue 3, May-June 2024. DOI 10.36948/ijfmr.2024.v06i03.22849
DOI https://doi.org/10.36948/ijfmr.2024.v06i03.22849
Short DOI https://doi.org/gt2b7k
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