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Soaring debt a burden on citizens, says Punjab governor
The governor, who was in Patiala to pay obeisance at the Mata Kali Devi Temple, said that while the situation may not appear problematic for the incumbent government, ultimately the burden of the growing debt will fall on the people of the state.
A day after the Aam Aadmi Party (AAP) government presented its last budget of the tenure, Governor Gulab Chand Kataria on Monday stated that the rising outstanding debt remains a major challenge for the state.
The governor, who was in Patiala to pay obeisance at the Mata Kali Devi Temple, said that while the situation may not appear problematic for the incumbent government, ultimately the burden of the growing debt will fall on the people of the state.
“The budget looks good (only) in statistics, the growing debt — which has already crossed ₹4 lakh crore — is a challenge. Usually, when we present a budget, we consider how much our income will be and how much we will spend. There should be a balance between total income and total expenditure. Otherwise, the debt will continue to grow. It may not seem problematic now, but the burden will eventually fall on the people of Punjab,” Kataria said while speaking to reporters. The governor was accompanied by former Union minister Preneet Kaur and the president of the Punjab BJP’s Mahila Morcha, Jai Inder Kaur.
He also noted that the budget has made major allocations, including about ₹19,000 crore for education and ₹15,000 crore for farmers, along with financial assistance schemes for women.
Punjab’s outstanding debt has been projected to approach the ₹4.50 lakh-crore mark during the 2026–27 financial year. The state government is estimated to borrow around ₹39,971 crore during the year, taking the total debt liability to ₹4,47,754 crore by March 31, 2027, according to the “Budget at a Glance” document tabled by finance minister Harpal Singh Cheema in the vidhan sabha on Sunday. The debt-to-gross state domestic product (GSDP) ratio is projected to be 45.65%, among the highest in the country.
Kataria said that law and order, along with responsible financial management, are important for the state’s development.
“The fiscal deficit should not be more than 3% of the GDP. Therefore, I think it is a challenge for the government,” he said.
‘Law and order situation challenging’
Kataria said the law and order situation in the state is “challenging” and requires strong control. The government needs to put in all its efforts to maintain law and order as it’s essential for the development of any state, he added.
“There is no fear, but we will, as a government, have to put in all our efforts to improve the situation, because it is one of the key factors responsible for development in the state,” he said, adding that he regularly speaks with the director general of police regarding the law and order situation in the state.
