Delhi: Under Arvind Kejrival

https://prsindia.org/parliamenttrack/budgets/delhi-budget-analysis-2019-20

Delhi is the capital of the Republic of India and also a state for administrative purposes. It is one of the largest metropolises in the country. Delhi shares its borders with the states of Uttar Pradesh and Haryana. It is the centre of international politics, trade, culture and literature in India.

Delhi is one of the fastest growing states of the country. At current prices, the Gross State Domestic product (GSDP) of Delhi increased at a CAGR (in Rs) of 12.41 per cent between 2011-12 and 2018-19 to reach Rs 7.80 trillion (US$ 108.06 billion). The per capita GSDP (in Rs) increased a CAGR of 10.30 per cent between 2011-12 and 2018-19 to Rs 402,173 (US$ 5,574.12).

Delhi has an attractive real estate market and is a preferred tourist destination. Owing to its location, connectivity and rich cultural history, Delhi has always been a prime tourist attraction of the country. Delhi Metro is the seventh busiest metro rail network in the world with 178.9 million people having used the service in 2017.

The Government of Delhi has been committed towards creating a progressive business environment. The new Industrial Policy 2010-21 aims to provide a conducive environment for knowledge-based and hi-tech IT/ITeS industries in Delhi.

Department for Promotion of Industry and Internal Trade (DPIIT) , FDI inflows in Delhi, including part of Uttar Pradesh and Haryana, stood at US$ 84.64 billion from April 2000 to March 2019.

Recent Developments:

• Under State Budget 2019-20, Rs 3,914 crore (US$ 542.48 million) has been allocated for housing and urban development in Delhi, an increase of 33.49 per cent from revised estimates of 2018-19.
• Government of India had undertaken highway projects worth Rs 34,000 crore (US$ 5.29 billion) to decongest the national capital.
• Merchandise exports from Delhi reached US$ 87.14 billion in FY18 and US$ 9.46 billion in FY19).

Key Sectors:

• National Capital Region (NCR) is India’s biggest milk market. The organised milk market in the region, estimated at five million litres per day, is growing at 6-8 per cent annually.
• The real estate market in Delhi is lucrative and attracts investors from India and abroad. Owing to the advanced infrastructural base, the city meets the requirements of a profitable investment. Real estate sector contributed around 28.49 per cent to Delhi’s Gross State Value Added (GSVA) in 2018-19. Housing sales in Delhi-NCR market increased by 7 per cent year-on-year between Jan-Sep 2018.
• As per the new Industrial Policy for Delhi 2010-21, the Government is keen on developing and promoting the hi-tech, sophisticated, knowledge-based IT and ITeS industries in the state. For this, the Government has planned to set up ‘Centre of Excellence’ to promote innovation and entrepreneurship in the sectors. In the first half of 2018, startups in Delhi-NCR received the highest funding of US$ 2.6 billion and by end of 2018 the Tech startups in Delhi-NCR grabbed 224 deals for the year 2018.

Delhi Chief Minister Arvind Kejriwal announced that people living in the capital do not have to pay any amount of their electricity bills if their power consumption does not exceed 200 units.

Making the announcement at a press conference, Arvind Kejriwal said the Delhi government will give full subsidy to those consuming up to 200 units of electricity.

The Aam Aadmi Party chief also said those consuming 201 to 401 units of electricity will continue to get 50 per cent power subsidy from the government.