Delhi Civic Bodies Yet To Pay Loans Amounting To Over 3,800 Crores: Auditor

Loans amounting to over Rs 2,000 crore were outstanding against the erstwhile Municipal Corporation of Delhi (MCD) as on March 31, 2012, the CAG report said.

Delhi Civic Bodies Yet To Pay Loans Amounting To Over 3,800 Crores: Auditor

Loans are provided to civic bodies on a quarterly basis. (File)

New Delhi:

Loans amounting to over Rs 3,800 crore were outstanding against the three municipal corporations in Delhi as on March 31 last year, according to a Comptroller and Audit General (CAG) report released on Monday.

Loans are provided to civic bodies on a quarterly basis under various projects and schemes and these are adjusted from the basic tax assignment due to them.

Loans amounting to over Rs 2,000 crore were outstanding against the erstwhile Municipal Corporation of Delhi (MCD) as on March 31, 2012, the report said.

After trifurcation of the MCD in 2012, these loans were divided among the South Delhi Municipal Corporation (Rs 936 crore), North Delhi Municipal Corporation (Rs 729.61 crore) and East Delhi Municipal Corporation Rs 394.26 crore) as per their liability ratio, the report said.

The NDMC received loans amounting to Rs 1,680.75 crore during 2012-18.

There has been a recovery of Rs 372.82 crore during 2012-13 to 2014-15. Recovery of loans for the period 2015-16 to 2017-18 has been deferred due to the poor financial condition of the corporation.

"Loans amounting to Rs 2,037.54 crore were outstanding against North Delhi Municipal Corporation as on March 31, 2018," it said.

The EDMC received loans amounting to Rs 1,133.98 crore during 2012-18.

There has been a recovery of Rs 132.34 crore during 2012-13 to 2013-14. Recovery of loans for the period 2015-16 to 2017-18 has been deferred due to the poor financial condition of the corporation, it added.

As on March 31, 2018, loans amounting to Rs 1,395.90 crore were outstanding against the EDMC, the report said.

The SDMC received loans amounting to Rs 158.50 crore during 2012-18.

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