"AAP has pushed Punjab to economic collapse": BJP demands CM Mann to bring white paper
Mar 11, 2024
Chandigarh (Punjab) [India], March 11 : The Bharatiya Janata Party (BJP) has hit out at the Punjab government, alleging it of pushing the state to the brink of economic collapse by grossly "misusing" the resources and putting the state under "unprecedented heavy indebtedness".
"The AAP government led by Chief Minister Bhagwant Mann has pushed Punjab to the brink of economic collapse by grossly misusing the resources and putting the state under unprecedented heavy indebtedness," Chugh said on Monday.
While demanding a white paper on the state's economic situation, Chugh said if the decline continued for some more time, Punjab may have to declare a financial emergency the way it happened in Sri Lanka.
"While the share of Punjab in central taxes has been steadily increasing from Rs 14,000 crores in 2022-23 to Rs 22000 crores in the current financial year, the debt-to-GDP ratio has touched alarming heights. As against the RBI's recommendation of keeping it up to 32 per cent, Punjab has taken it to 45 per cent by recklessly raising debt on the state," he added.
He also claimed that even as the state borrowed Rs 94000 crores in the last financial year, the total debt in Punjab has touched a staggering Rs 3.7 lakh crores.
"Moreover, the capital expenditure has been slashed from Rs 10354 crores in 2022-23 to Rs 7445 crores in 2024-25," he added.
Chugh further alleged that there is a drastic reduction in budgetary allocation to key sectors like rural development, agriculture, small-scale industries and infrastructure development.
Coming down heavily on the Punjab government, Chugh said, "No special welfare schemes have been initiated by the AAP government for SC/ST classes and OBCs, which indicates how glaringly the Bhagwant Mann government has been missing on inclusive growth of the state."
He further claimed that the Punjab government has reduced the allocation to village and small scale industries from Rs 385 crore in 2023-24 to Rs 126 crore in 2024-25.
"Similarly, allocation to roads and bridges has been drastically cut from Rs 295 crores in 2023-24 to Rs 192 crores in 2024-25. Even allocation to the agriculture and allied sectors has been slashed by about Rs 100 crore, which is a serious reflection of the lopsided and wayward policies of the AAP government in Punjab," he added.
