Punjab’s income and resources go into private pockets, that is the mafia, said Congress leader Navjot Singh Siddhu. Hitting out at the AAP-led Punjab government, the fresh out of jail leader said that the state is facing a “serious debt crisis.”
In the take down of Punjab Chief Minister Bhagwant Mann, the former cricketer alleged that people of Punjab “are being fooled by those in power for populist politics.”
Sidhu shared a video on social media platform X, formerly Twitter and said, “The Governor has given a precise answer to the Chief Minister. Why doesn’t the Chief Minister tell where the Rural Development Fund (RDF) money was spent?”
The criticism of Bhagwant Mann by Sidhu comes two days after the Punjab CM wrote to the governor asking for his intervention in securing a pending Rural Development Fund (RDF) of Rs 5,637 crore from the Centre. In response, the Governor stated: “It would be appropriate to wait for the Supreme Court’s decision before anything is done on the issue.”
- Punjab is facing a serious debt crisis. The state’s debt-to-GDP ratio is nearing 50%, which is much higher than the national average. The state’s debt is now at an unsustainable level. The Governor of Punjab in a letter to the Chief Minister has clearly mentioned Rs 50,000 crore increment in the Debt Taken by incumbent Bhagwant Mann Government in 1 year 6 Months, amounting to about debt increment of about 70,000 crores in two years, the numbers say that economic crisis stares at us.
- The rapidly increasing debt in Punjab is a result of continued corruption and vote bank politics of AAP. The politics of freebies is hitting Punjab in irreparable ways, PSPCL borrowings from banks are more than Rs 18,000 crores, loans for digital meter installation at 9,641 crores in addition to this arrears of subsidy and outstanding bills from the Punjab government at 9,020 crores and 2,548 crores respectively. PSPCL today is mortgaged and sold out.
- Cable Mafia flourishing. No action on more than 25000 Acres illegally occupied land around Chandigarh by the bigwigs, No white paper on PSPCL, No Excise Commision, ‘No Mining Policy?, The Chief Minister must answer “What is stopping him to take action against the bigwigs illegally occupying our land? What is stopping him from dismantling the continued monopoly by the cable mafia?
- Those who promised to increase the revenue through excise policy and sand mining are themselves patronising the illegal syphoning of funds through these sectors, L1 licenses exclusive for a selected few, rampant illegal mining in government’s protection are the real factors that have sabotaged the revenue aspirations of Punjab.
- The CAG in its report in March 2023, warned that if this model of governance continues in Punjab than the state will witness the uncontrollable financial instability in 10 years but today at the unprecedented shamelessness with which the AAP Government is continuing to increase Punjab’s Debt, the situation may be worse by the end of their term.
- People are being fooled by those in power for populist politics, the debt trap that the people of Punjab have been pushed into amounts to about 1 Lakh 20 thousand debt on every Punjabi, this figure increases everyday.
- Punjab is in a debt trap and the state’s revenue deficit is the highest and fiscal deficit second highest among the 17 general category states. Where is the Revenue Model? The Punjab Government must clarify whether the state will be run on borrowings or income. Continuance of this system of debt for expenditure and pocketing of revenue by those in power who are patronising corruption will lead to a catastrophic situation.
