Opposition leaders in Punjab criticised the AAP government on Wednesday over the state’s financial condition, alleging that taking an additional loan of Rs 1,500 crore has further increased the burden on the state’s finances.
Raising concern over the growing debt, opposition leaders claimed that the fresh borrowing would push Punjab’s total outstanding debt beyond Rs 4 lakh crore.
Shiromani Akali Dal leader Bikram Singh Majithia attacked the Bhagwant Mann government, questioning its financial management and alleging that the new loan has been taken despite the state already facing heavy debt.
In a statement, Majithia said the government appears to be depending on loans, instead of maintaining fiscal discipline or reducing liabilities, which, he claimed, was pushing Punjab into deeper financial stress.
Majithia further alleged that the AAP had promised to reduce Punjab’s debt when it came to power and assured people that no additional financial burden would be imposed on the state. However, he claimed that over the past four years the government has continued borrowing, doing the opposite of what it had promised during elections.
According to Majithia, this has not only increased debt levels but has also weakened Punjab’s overall economic stability. He added that Punjab was once known as a prosperous state, but the present financial situation was gradually pushing it towards economic distress. He further alleged that instead of making Punjab 'rangla' or vibrant, as promised, the government’s policies have left the state in financial strain.
Congress MP Sukhjinder Singh Randhawa also criticised the AAP government over the new borrowing, alleging that the Bhagwant Mann government is pushing Punjab towards a financial emergency. He claimed development works have slowed and the debt burden per citizen has crossed Rs 1.26 lakh.
Randhawa alleged that Punjab’s total debt had risen by over Rs 1.33 lakh crore during the tenure of the AAP government. He claimed that a large part of the borrowing is being used to repay earlier liabilities and fund subsidies, particularly free electricity. To implement the promise of 300 units of free power, the government is providing over Rs 20,400 crore annually as subsidy to the power utility.
Criticising the government’s priorities, Randhawa alleged that funds are being spent on political publicity rather than public welfare. He further alleged that loans were being used for national-level advertisements and frequent chartered flights by the Chief Minister instead of genuine development activities.
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