AAP pushing state towards financial emergency: SAD

NK Sharma said the state’s debt had increased to a maximum permissible limit of ₹4.25 lakh crore and would reach ₹5 lakh crore by the end of the government’s tenure in the state

The Shiromani Akali Dal (SAD) on Tuesday said the Aam Aadmi Party (AAP) government was pushing Punjab towards a financial emergency. “It is taking unsustainable debt, bankrupting boards like GMADA by borrowing money from them, misusing central funds and terrorising the trade and industry through raids and forced penalties,” party leader NK Sharma said while addressing a press conference here.

NK Sharma said besides being declared bankrupt, the state would not be able to even pay salaries to its employees. (HT Photo for representation)

He said the state’s debt had increased to a maximum permissible limit of ₹4.25 lakh crore and would reach ₹5 lakh crore by the end of the government’s tenure in the state. Asserting that this would result in a debt to GSDP ratio of more than 50%, he said besides being declared bankrupt, the state would not be able to even pay salaries to its employees.

“The government has taken ₹12,000 crore from GMADA but has no road map on how the funds will be used to strengthen infrastructure or any other allied activity. Similarly, it has used ₹12,000 crore from the State Disaster Relief fund deposited with it by the central government. This money has been used on advertisements and publicity stunts,” he alleged.

Sharma also said that the social welfare benefits like atta Dal, Shagun, pensions, SC scholarship, Teerath Yatra, free medicines, cycles and sports kit had been halted.