Bureau Report: Who is lying about the state of Punjab’s economy, Chief Minister Mann or the latest report issued by the bank. Chief Minister Bhagwant Mann has already claimed in Amritsar 2 days ago that the treasury is full and there is no shortage of money. But according to the report of Bank of Baroda, 22 percent of Punjab’s total earnings are going towards interest payments. This is 47 percent of the state’s GDP debt.
Punjab has the highest debt compared to other states in the country. Whereas according to the rules of the Reserve Bank, the debt to GDP ratio should be less than 20 percent. But this rule is fulfilled only by Odisha, Gujarat and Maharashtra. While other states are being pressed under the burden of debt. In which Punjab is on top, Beyah on second and Rajasthan on third.
There is no plan for debt relief
Chief Minister Bhagwant Mann claims that the treasury is full, but he never makes any statement about the debt, it is mentioned only during the budget. The big question here is whether the state government has a solid plan to repay the debt. CM government has organized investment and tourism summit in the state. But it is difficult to get results soon. However, Chief Minister Bhagwant Mann is claiming that thousands of crores of investment will come through the new industrial policy. But the ground reality is beyond this. During AAP supremo Kejriwal’s three-day visit to Punjab, assurances have been given to the industrialists regarding various types of electricity supply and taxes, but political pundits are seeing it in connection with the Lok Sabha elections.
Electricity and free bus travel for women a big burden in Punjab
The Punjab government has fulfilled the promise of providing 300 units of free electricity to the domestic electricity consumers, but the financial burden that has fallen on the state is a matter of great concern for the state government. Already farmers were getting free electricity. PSPCL was not able to recover from his burden, now 300 units of free electricity to every domestic consumer has broken the back of the electricity department. Every month there is a risk of a strike regarding the buses in the state, because the employees have not been paid on time and the Punjab government is not able to fulfill the promise of fixing the raw employees. The condition of the transport department is bad, the free bus service was given to women by the Congress government but the AAP government has continued it. Due to this, the financial burden on the transport department is continuously increasing.
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