Union information and broadcasting minister Manish Tewari demanded a white paper on the financial situation in Punjab.
Quoting news reports in a section of media based on RTI information provided by the state government itself, Tewari pointed out, it is official that the state government has either sold its properties or mortgaged these to get money for its day to day needs.
"No government can be run this way", he pointed out, while expressing serious concern about the financial mess in the state.
The minister, who represents Ludhiana parliamentary constituency, said, it is not a matter of political posturing, but the harsh reality that the Punjab economy is progressively declining and day may not be far when the state goes bankrupt.
"The state government needs to act before it is too late", he warned, while adding, denial mode was no defence.
He said that instead of continuously remaining in the denial mode, the state government should produce a white paper on the state of economy and spell out the measures for reviving it.
"This government either appears to have given up or is blissfully ignorant about the economic crisis in the state", Tewari warned, while adding, this may have a cascading effect and the government may not be able to control the situation anymore.