Punjab CM orders probe into whopping debt of Rs 3 lakh crore
Darpan News Desk IANS, 18 Apr, 2022 10:35 AM
Chandigarh, April 18 (IANS) Punjab Chief Minister Bhagwant Mann on Monday ordered an inquiry into how the state has a whopping public debt of Rs 3 lakh crore and where was the money spent.
"We will inquire as to where the money was spent and will order recovery into where this money was spent. This was the public money," Mann said in a tweet.
As per official figures, the total outstanding debt of Punjab as on March 31 was projected at Rs 2,52,880 crore, which is 42 per cent of the GSDP for 2020-21 and the outstanding debt is likely to be Rs 2,73,703 crore in 2021-22, which is 45 per cent of the GSDP.
Twenty per cent of the annual budget is being spent only to pay the interest on the loans.
As per the latest findings of the Comptroller and Auditor General of India, the state's financial crisis is set to worsen with the debt likely to reach Rs 3.73 lakh crore by 2024-25.
The government officials told IANS that the state's debt has increased by Rs 1 lakh crore in the past five years under the previous Congress government, largely owing to populism.
Responding to the Chief Minister's decision, the Shiromani Akali Dal (SAD) welcomed the decision to order a probe into the Rs 3 lakh crore debt acquisition but said the inquiry should not be used to divert attention from fulfilling the promises made to the people of the state.
It also demanded a probe into all advertisements released by the AAP government in the last one month in office.
"We are all for a free and fair probe into the Rs 3 lakh crore debt accumulated by the state but this probe should not be used as an excuse to delay fulfilling the promises made to the people," senior leader Daljit Singh Cheema said in a statement here.
He said the previous Congress government had used the excuse of empty treasury to renege on all promises made to the people. "Despite knowing the reality of the financial position of the state before taking over the reins of the state, the Chief Minister has now come up with an excuse to probe the reasons behind this position.
"The SAD feels the probe should not come in the way of fulfilling the government promise to distribute Rs 1,000 to all women in the state, besides ensuring 300 units of free power per month to all domestic consumers immediately."
Cheema said the Chief Minister should also order an inquiry into the advertisements released by the state during the last one month in office.
"As per reports, taxpayer money is being used to spread the propaganda of the Aam Aadmi Party (AAP) across the country. Advertisements are being released in regional languages by the AAP government to project its alleged achievements in South India and even poll-bound states like Gujarat and Himachal Pradesh. Crores have been spent for this purpose which does not benefit Punjab or Punjabis in any manner whatsoever," he added.
Fulfilling its major pre-poll promise, the AAP government on April 16 announced 300 units of free electricity from July 1 in the state.
It said the rates of industrial and commercial units would also not be hiked, besides continuing free electricity for the agriculture sector.
The government further announced to waive off bills up to 2 KW load till December 31, 2021. Punjab is the second state after Delhi to provide free power to the people in the country.
An interstate ganja supplier was arrested and 305 kg of the contraband valued at Rs 2 crore in the international market was recovered from his possession in the national capital, an official said here on Tuesday. The accused was identified as Shyam Sundar, 29, a resident of Firozabad district in Uttar Pradesh.
The alliance promised Rs 10 lakh free annual health insurance for all Punjabis, Rs 2,000 per month to all women heads of 'blue card' families, 5 lakh houses and five marla plots each to homeless poor and hiking old-age pension to Rs 3,100 and shagun scheme of Rs 75,000.
In an interview to IANS, Ashwani Kumar, who was perceived as a loyalist of the Gandhi family and had supported against the 'G23' , said it was getting difficult to continue in the party. He also said he is open to join any other party.
Promising to work on the teachings of Sikh gurus with principles of non-discrimination and equality for all, Prime Minister Narendra Modi said on Monday that the NDA would form the government in Punjab and would free the state from drugs.
The government can't restrict fundamental rights in the garb of maintaining public order, the counsel for the girl students seeking permission to wear the hijab told the Karnataka High Court on Monday.
On February 14, 2019, a suicide bomber of the Pakistan-based Jaish-e-Mohammed (JeM) terror group attacked the CRPF convoy in Jammu and Kashmir's Pulwama district in which 40 personnel were killed.
