In its very first meeting, Capt Amarinder Singh led Punjab Cabinet is expected to take significant decisions on the issues of agriculture loan waiver, State finances, drug menace, power, among others on Saturday. Besides, several austerity measures, including ending VIP culture, are also expected.
The State Government has prepared 150-point agenda for its Saturday afternoon meeting wherein it is expected to take a slew of decisions which does not involve any financial implications, keeping in mind its poll promises. Acting on its pre-poll promise of uprooting agriculture loans, the newly-formed Congress Government is expected to form a panel of experts to evaluate the total agricultural loan, which the Government proposes to waive. As per initial estimates, the amount is approximately `35,000 crore.
The development assumes significance as the promise to waive off the agri loan was one of the grounds which contributed to the party’s victory in the assembly elections, at least this is what a section of Akalis is insisting. “We are yet to assess institutional debt, outstanding farm loans of cooperative banks and arthiyas (commission agents), and how much of it is farm debt,” said the State Finance Minister Manpreet Singh Badal after assuming the office.
At the same time, he made it clear that the new Government will continue to give free power for farmers, while accusing the SAD-BJP Government of leaving the State with a staggering `1.75 lakh crore debt.
The cabinet may also empower the State Government to come up with a “white paper” on the State’s finances that the Congress Government has inherited from the previous SAD-BJP regime. “We will be presenting a white paper. I have already asked officials to prepare it on the State’s finance that we have inherited…There was systematic loot of Punjab’s resources and its legitimate revenue was siphoned-off to cartels in transport, sand and mining sectors,” he alleged.
Besides, he said, that the state will also have a “special audit of Government expenditure” in the last three years. “We will be going for a third party audit of Government expenses. A lot of work was undertaken without administrative or financial approvals,” said Manpreet, who has started his second inning as State’s Finance Minister. He added that a special audit of the State power utility, Punjab State Power Corporation limited (PSPCl), will also be done.
Keeping in mind the poor fiscal health, rationalisation of State’s expenditure, reducing revenue deficit and growing additional resources is the Government’s main priority.