The Punjab Government has been greatly blowed by the Center. The Center has been cut off the debt limit for Punjab’s current financial year. The deduction is Rs 16,477 crore. The meeting ministry has written the letter to the Indian Reserve Bank to this regard.
Let’s tell that at first the 9th95 crore debt was approved for 9 months. Now Rs 16,477 crore has been reduced from the nine-month debt limit and the main reason is not being said to not pay the amount of power subsidy.
The Union Finance Ministry has developed the overall debt limit for the year 2025-26 for Punjab. Accordingly, in this current year, the state may pay the loan of Rs 51,140 crore. The debt limit has been fixed by Rs 38 thousand crore for 9 months in this time but the approval has been reduced to Rs 21,05 crore. Clearly, 16,000 477 crore has been deducted for 9 months.
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The Union Finance Ministry has given several reasons for the deduction in the loan range in the loan limit, one of the car is not to pay the power subsidy by 31 March 2024. However, according to the budget of the Punjab, the financial year Rs 49,900 crore was said to take a loan of Rs. 900 crore. Total debt is estimated by Rs 4.17 lakh crore by March 31, 2026 on Punjab. In the last three years, the current government has carried Rs 1.32 lakh crore while inherited debt is already a problem. The state government has set a revenue target of 1.11 lakh crore during the current financial year while spending Rs 1.36 lakh crore.
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