Chandigarh: Revealing serious concerns about deteriorating financial health, Navjot Singh Sidhu State Congress President said the country to civil war if they failed to reverse the situation.
The Head of the Punjab Pradesh Congress Committee said that the state could not live if corrective steps were immediately not taken.
While sharing the details of the state financial position, Sidhu cites the CAG report which according to Punjab Public Debt will be around RS 4 Lakh Crore in 2024.
Punjab has become the most indebted country in India with a debt ratio of GDP at 48%, the worst in this country .
Over the past years, the state has paid a previous loan by utilizing around 73% of new loans, while 24% of state revenues were used to pay interest, he showed.
Sidhu expressed displeasure on Punjab per capita income sliding below the national average and per capita capital expenditure which dropped to the lowest in this country.
He said the country only spent Rs 869 per person as capital expenditure, against the national average of Rs 3,509.
Haryana’s neighbor spent Rs 6,038.
He said all the pro-person announcements made by the government so far are part of the punjab model that will be carried out in the next five years.
“It’s just a trailer.
I convinced people that this announcement was not for 2-3 months,” he said.
Sidhu said the government did not have a machine to print currency notes and there were only ways to generate funds – borrowing, taxation and income.
“If the country has reduced RS 15 on gasoline and diesel it will cost the government costs Rs 6,000 Crore, while cheaper power will cost an additional RS 3,600 Crore,” said Sidhu, adding that according to the Punjab model prepared by him and Charanjeet Minister Chairman Singh Channi, the government aims to generate funds that are not by imposing taxes or borrowing but with their own income where state resources need to be included in the contract system ending.
“We will provide facilities to people from state revenues,” he said.
‘Nothing was done in 20 years who explored in a consecutive state government, including those from his party, Sidhu said nothing was carried out in 20 years because of increasing the productivity and income of farmers.
“I have said for the past five years that Dharna and protest by farmers is a symptom of the ongoing agricultural crisis.
We will get three agricultural laws revoked but also will not guarantee that farmers will become prosperous,” he said.