North India Times

Punjab under Rs 1,13,053 crore debt trap !

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captain_amrinder_singhCongress Deputy Leader in Lok Sabha and former Punjab Chief Minister Capt Amarinder Singh has  termed the Punjab budget as ‘a statement of admission of fiscal failure and incompetence’ of the Akali-BJP government in the state.

“Not that anybody had expected any miracles from this budget, but this would be so disappointing was beyond imagination”, he remarked while reacting to the budget here today.

He also lashed out at the Chief Minister Parkash Singh Badal for abstaining from the crucial budget presentation in the Vidhan Sabha saying this only reflected his lack of sincerity and seriousness towards the state.

Referring to the mounting debt which is estimated to be Rs 1,13,053 crore by the end of the current fiscal, the former Chief Minister said, this was quite worrying as the government seemed to be neither sincere nor serious about taking any curative and corrective measures.

He ridiculed the statement of the finance minister that sought to take pride in the meagre annual growth rate of 5.25 per cent when states like Bihar and Gujarat had crossed 12 per cent growth rate.

The former Chief Minister pointed out, while the government has admitted that the state has not been able to fully achieve targets of Revenue Deficit set out in Fiscal Consolidation Path recommended by 13th Finance Commission, it has neither done anything nor suggested to do anything about it.

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