Demonetisation hampers Delhi government’s revenue targets

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The demonetisation exercise announced by the Central government on November 8 last year may leave the Delhi government high and dry just ahead of the budget season. Data exclusively procured by India Today reveals that Delhi’s already poor revenue collection nosedived during the month of December, compared to the last fiscal year.The demonetisation exercise announced by the Central government on November 8 last year may leave the Delhi government high and dry just ahead of the budget season. Data exclusively procured by India Today reveals that Delhi’s already poor revenue collection nosedived during the month of December, compared to the last fiscal year.

The overall reduction in revenue collection during December 2016 in comparison to December 2015 was almost 16 per cent.

Furthermore, there are no signs that the situation will improve in the coming months of current 2016-17 fiscal year. The budget speech made by Delhi’s deputy chief minister Manish Sisodia, who also holds the finance portfolio, revenue target of `36,525 crore was set for the different revenue-generating departments.

Even before the demonetisation exercise started, it was clear that the departments were going to miss the set target by a fair amount.

But, the low revenue generation for the month of December was particularly a shocker, sending the entire government into a huddle

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