Congress Leader Bajwa Warns AAP Could Drive Punjab into Bankruptcy
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Synopsis
Partap Singh Bajwa warns that the AAP-led Punjab government’s rising debt could lead to bankruptcy, citing projected increases in state debt and criticizing the government's financial management and failure to meet revenue promises.
Key Takeaways
- Punjab's debt projected to reach Rs 4,17,136.10 crore.
- Additional Rs 16,800 crore debt expected in FY 2025-26.
- Punjab second-most debt-laden state in India.
- AAP's budget deemed typical, not transformative.
- Failure to meet revenue targets from mining and corruption.
Chandigarh, April 4 (NationPress) The Leader of Opposition in the Punjab Assembly, Partap Singh Bajwa, issued a stark warning to the Aam Aadmi Party (AAP)-led state government regarding the serious consequences of its escalating borrowing practices. He stated, "According to data from the Reserve Bank of India (RBI), Punjab is set to incur an additional debt of Rs 16,800 crore in the first quarter of the fiscal year 2025-26. By the end of this fiscal year, Punjab’s total debt is projected to reach approximately Rs 4,17,136.10 crore. When the AAP administration took charge in March 2022, the state’s debt was around Rs 2.73 lakh crore. By the conclusion of AAP’s term in 2027, the debt is estimated to soar to approximately Rs 450,000 crore," Bajwa emphasized.
The Congress leader criticized the current government, stating that due to the “financial disorder” instigated by Chief Minister Bhagwant Mann, Punjab has been rendered a bankrupt state.
Bajwa highlighted that Punjab is the second-most indebted state in the nation, attributing its financial woes to the AAP's governance. He remarked, "Prominent economists in Punjab have aptly described the recent Budget presented by the AAP government as typical, projecting a future where Punjab may be labeled as ‘kangla’ (bankrupt) rather than ‘rangla’ (vibrant)."
Mocking the ruling party's campaign promises from the 2022 Assembly elections, he pointed out that despite the AAP completing three years in office, it has failed to generate revenue from the anticipated sources, such as Rs 20,000 crore from mining and Rs 34,000 crore by eradicating corruption.
Bajwa added, "The AAP has manipulated the narrative of its governance, wasting Punjab taxpayers' money on promotional campaigns. The state's treasury is being squandered on party expansion by these so-called ‘kattar imaandar’ (staunchly honest). Under these circumstances, the motto of ‘Rangla Punjab’ appears to be nothing short of a cruel joke."
