Friday, December 1, 2023

Delhi Finance Minister Manish Sisodia presents ‘Rozgaar Budget’, aims for 20 Lakh jobs in 5 yrs

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Manish Sisodia, the Finance Minister and Deputy Chief Minister of Delhi, delivered the 8th Annual Budget in the Assembly on Friday, with an emphasis on jobs. The projected Budget Estimate for 2022-23 is Rs 75,800 crore, 9.86% more than the Budget Estimate of Rs 69,000 crore for 2021-22 and 13.13% more than the Revised Estimates.

“In my eighth budget in this House, I am presenting an agenda to create new jobs for the people of Delhi and to boost economic recovery from the damage caused in recent years due to COVID-19, GST and demonetisation,” the minister said.

“Today we are presenting ‘Rozgaar Budget’ which aims to accelerate economic welfare. Through ‘Rozgaar budget’ we aim to generate 20 lakh more jobs in the next five years. I will put plans to take the economy of Delhi on the path of progress and generate lakhs of employment opportunities out of this progress,” said Sisodia.

“Delhi government has made a start up policy to increase entrepreneurship, right now any new start up wastes 90% of its time in getting entangled with the system, but to help them in our policy, 50 crores have been proposed, A new film policy has been made to stabilize Delhi for filming at the national and international level, there will be a single window solution, a film festival will be started every year in Delhi,” he added.

The Finance Minister stated that the Delhi economy is gradually emerging from the challenges posed by the five waves of COVID-19, and that as a result, the Gross State Domestic Product (GSDP) of Delhi is expected to rise from Rs 7,85,342 crore in 2020-21 to Rs 9,23,967 crore in 2021-22 at current market prices. In comparison to previous year, there was a 17.65% rise, he stated.

Here are the top points put up by Manish Sisodia during the budget:

  • The real growth rate of Delhi’s GSDP in the year 2021-22 is likely to be 10.23 per cent whereas, at the national level, this growth rate is estimated to be 8.9 per cent. We are again reaching the level of pre-pandemic economic activities.
  • Delhi’s per capita income is likely to increase to Rs 4,01,982 at current prices in the financial year 2021-22. In the year 2020-21, it was Rs 3,44,136. This shows an increase of 16.81 per cent in Delhi’s per capita income in 2021-22.
  • Delhi’s per capita income for the year 2021-22 is almost 2.7 times higher than the national average of Rs 1,49,848.
  • Government has chosen the retail sector, food and beverages, logistic and supply chain, travel and tourism, entertainment, construction, real estate and green energy sectors as a priority to create new jobs.
  • We are bringing a scheme for innovating Delhi’s retail markets. We’ll invite people from abroad and conduct a Delhi shopping festival. Further, to connect the shopkeepers with customers we will develop Delhi Bazaar portal.
  • The Revised Budget Estimate for the financial year 2021-22 is ₹ 67,000 crore against the approved Budget Estimate of ₹ 69,000 crore. The proposed Revised Estimates of ₹ 67,000 crore is 27.70% higher than the actual expenditure of ₹ 52,468 crore in 2020-22.
  • Under the leadership of Chief Minister Arvind Kejriwal, we are aiming to increase the percentage of the working population of Delhi from the current 33% to 45% in the next five years.
  • The Delhi Govt plans to develop market in Gandhinagar as a ‘Grand Garment Hub’ in the field of readymade garments textile. This program is expected to create more than 40,000 new employment opportunities in the next 5 years.
  • In Delhi that we are making children job creators not job seekers. We started a program called #BusinessBlasters in Delhi schools last year with the aim of challenging class 11th and 12th class students to successfully work on their business ideas.

During the budget session, Manish Sisodia proposed to create new jobs in the following sectors:

  • Retail Sector
  • Food & beverages
  • Logistic & Supply Chain
  • Travel & Tourism
  • Entertainment
  • Construction
  • Real Estate
  • Green Energy

“We plan to redevelop & transform these iconic markets of Delhi into attractive tourist destinations. For this, we propose 100 crores in the budget. At least 1.5 lakh new job opportunities will be created in next 5 years from within just 5 markets,” he said.

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