Punjab Congress president Amrinder Singh Raja Warring on Friday warned the Aam Aadmi Party led State Government against the fiscal profligacy which can push the State into bankruptcy.
“Given the rate at which AAP Government in Punjab is borrowing money, it will add at least Rs one lakh crores to the already debt ridden state,” said Warring adding that in the past six months, the State had taken a debt of Rs 11,464 crores which means total borrowing in five years will cross Rs one lakh crores.
The state Congress president said that there was a sharp decline in revenue collection also in terms of sales tax and stamp duty — two important indicators of economic and business activity. “The extra revenue collection shown under the excise head was due to the deposit of security amount by the liquor contractors. This is just a jugglery of figures, while actually there is no increase in the revenue,” he said.
He said, despite such a precarious fiscal situation, the state government was splurging money shamelessly on advertisements and that too in outside states like Gujarat and Himachal Pradesh. “You will have to account for each penny that you are wasting and that should otherwise be spent for the welfare of people of Punjab”, he said.