New Delhi, Jul 5 (PTI) The Delhi Transport Corporation (DTC) has negative net worth and contributed 99.74 per cent of the loss incurred by state public sector enterprises in the national capital during 2019-20, according to a Comptroller and Auditor General (CAG) report tabled in the Assembly on Tuesday.
The CAG, in its reports, also pointed to various lapses by the Delhi Transport Infrastructure Development Corporation (DTIDC) to manage and maintain existing as well as new inter state bus terminals (ISBTs) and bus queue shelters (BQS), and questioned its existence.
The audit report for the year ending March 2019 stated that loans amounting to Rs 11,838 crore were disbursed to the Delhi Transport Corporation during 1996-2011, of which Rs 162 crore has been repaid leaving Rs 11,676 crore as outstanding as on 31 March 2019.
Interest liability of Rs 26,070 crore on these loans was outstanding as on March 31, 2019.
The audit report for the year ending March 2020 said there were 18 SPSEs in Delhi, including two statutory corporations and 16 government companies, under the audit jurisdiction of the CAG. In 2019-20 there were 10 profit-earning SPSEs, as compared to eight in 2018-19.
The profits earned by the profit-making SPSEs increased to Rs 1,123.10 crore in 2019-20 from Rs 894.74 crore in 2018-19. During 2019-20, net profit of Rs 1,066.29 crore constituting 94.94 per cent of total profit of these 10 SPSEs was contributed by five SPSEs.
There were seven SPSEs that incurred losses as per their latest finalised accounts at the end of March 2020. The losses incurred by these loss-incurring SPSEs increased to Rs 5,294.16 crore in 2019-20 as per their latest finalised accounts from Rs 3,859.78 crore in 2017-18 and Rs 4,386.79 crore in 2018-19.
“Out of total loss of Rs 5,294.16 crore incurred by these seven loss-incurring SPSEs during 2019-20, loss of Rs 5,280.55 crore (99.74 per cent) was contributed by Delhi Transport Corporation alone,” it stated.
It said that as on March 31, 2020, net worth of Delhi Power Company Limited and Delhi Transport Corporation was (-) Rs 37,124.89 crore which was completely eroded by accumulated loss of these SPSEs.
The CAG report for the year ending 2018 said that Delhi Transport Infrastructure Development Corporation Limited (DTIDC) has been in existence for almost eight years with a mandate to provide and develop transport infrastructure with better facilities and amenities to the passengers and tourists in Delhi.
“DTIDC was also to manage and maintain existing as well as new ISBTs and BQSs. Audit observed that overall the pace of projects of upgradation, re-development of ISBTs has been slow,” it said.
Noting that there has been delay of more than eight years in the upgradation of the Kashmere Gate ISBT, it stressed that even the re-development work on the ground of Anand Vihar and Sarai Kale Khan ISBTs which was taken over by DTIDC in June 2011, had not even started till date with estimated cost escalation of Rs 198 crore.
“Even after lapse of more than 20 years of the Supreme Court directions to establish ISBTs at North and South west entry points of Delhi, ISBTs at Dwarka and Narela could not be established defeating the purpose of reduction in air pollution level caused by interstate diesel buses plying on these routes,” it said.
The report also highlighted that Dwarka ISBT had not been developed even after 18 years of getting possession of land, which had resulted in enhancement of project cost by Rs 632.15 crore.
In Narela ISBT, after releasing payment of Rs 10.30 crore to DDA, the land for establishment of the ISBT had not been finalised even after the lapse of 11 years.
“Since none of the projects have shown intended progress as also the fact that these projects are proposed to be handed over to other agency/PWD; the Government may review whether the Corporation needs to continue to exist especially when the mandate with which the Corporation was set up has not served the intended purpose,” it said.
“The required funds to be incurred under Corporate Social Responsibility had been grossly under-utilised during 2014-15 to 2016-17,” it added.
Stressing that DTIDC needs to strengthen its financial management, the report also said that it also needs to ensure timely completion of work of various ISBTs and construction of bus queue shelters. PTI SLB SMN SMN
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