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AAP pushing Punjab into debt trap, alleges SAD
Shiromani Akali Dal (SAD) senior leader Parambans Singh Romana said gross financial mismanagement was leading the state to fiscal bankruptcy.
The Shiromani Akali Dal (SAD) on Tuesday asserted the Aam Aadmi Party (AAP) government had burdened the common man with new taxes of ₹12,500 crore even it had not undertaken any new infrastructure project or social welfare scheme to justify the unprecedented ₹one lakh crore debt taken by the government in the last two and a half years.
SAD senior leader Parambans Singh Romana said gross financial mismanagement was leading the state to fiscal bankruptcy with Punjab recording the second highest debt to GSDP ratio of 46.81%.
“The AAP government had imposed additional taxes, including VAT on petrol and diesel three times ( ₹600 crore), removing power subsidy ( ₹1800 crore), increasing power rates ( ₹7,800 crore), increasing collector rates ( ₹2,000 crore), increasing bus fares ( ₹150 crore), doubling motor vehicle tax ( ₹100 crore), introducing green tax on old vehicles ( ₹100 crore) and even taxing loans ( ₹1500 crore),” Romana said.
Despite imposing these huge taxes and levies in the form of increasing service charges in Suvidha Kendras and hike in license fee for driving and arms licenses, the AAP government had nothing to show by way of any achievement.
“I challenge chief minister Bhagwant Mann to tell one new infrastructure project taken up by his government or debate on the closure of all social welfare schemes by the AAP government. I am ready to debate on these issues as well as the acute financial crisis of the state at any stage of his choice,” Romana added.
The SAD leader said the debt to GSDP ratio which was 40.15% when the SAD government took over the reins of the state in 2007, was reduced to 33% in 2017. “Since then, the state’s finances have been sinking with the Congress raising the dent to GSDP ratio to 45% in 2022 and now it had gone up to 46.81%. The governance itself was in question with the annual fiscal deficit rising to ₹34,000 crore.”
During the SAD tenure, average borrowings were ₹8,400 crore per year which rose to an average borrowing of ₹18,235 crore per year during the Congress tenure to ₹35,000 crore annually now, Romana asserted.
The SAD leader said that the CAG report had also pointed out that ₹736 crore collected on account of cess and levies had not been deposited in government accounts, which was also a matter for a probe.
