Randhawa demands white paper on Pb’s debt

Chandigarh: Former deputy chief minister of Punjab and Gurdaspur MP Sukhjinder Singh Randhawa on Thursday criticised the financial policies of the Punjab govt led by the Aam Aadmi Party, alleging that the state is being pushed towards a debt trap. He claimed that raising about ₹9,500 crore within three months reflected weak financial planning. According to him, the borrowing plan includes ₹4,000 crore in April, ₹3,000 crore in May and ₹2,500 crore in June, of which the first instalment of ₹1,500 crore has already been taken. He further cited media reports indicating that the govt may borrow around ₹40,000 crore during the 2026-27 financial year.Randhawa warned that if the situation continues, Punjab could head towards a serious financial crisis in the coming years. He demanded that the govt immediately release a White Paper on the state's debt and financial condition so that the public can know the truth. He also cautioned that the future of Punjab's people will not be sacrificed for short-term politics and irresponsible financial decisions, and if necessary, the issue will be taken to court and raised in Parliament. "Punjab is already burdened with heavy debt. According to available financial data, the total debt of the state has crossed ₹4 lakh crore and could soon reach ₹4.47 lakh crore if borrowing continues at this pace," he said. Randhawa alleged that the Punjab govt is following a policy of taking new loans to repay old ones. "A significant portion of the new loans is being used to service previous debt and interest payments. This is not merely a matter of numbers, but it has a direct impact on the people of Punjab," he added. Randhawa questioned the govt on how the thousands of crores borrowed in recent months have been utilised. If the funds are being spent mainly on subsidies and repayment of old debt, it could push the state into a deeper financial crisis, he warned. MSID:: 130145018 413 |