Punjab Pradesh Congress Committee (PPCC) in a meeting with the members of 14th Finance Commission on Saturday pleaded for liberal financial assistance to Punjab for a period of five years so as to create adequate financial space for the Government to undertake corrective measures.
The Congress however demanded to link the flow of funds with performance of various government departments. The PPCC team comprising Surinder Singla, former Finance Minister and Rajanbir Singh party, spokesperson apprised the members of Finance Commission about the economic disaster caused by the ruling SAD-BJP government. They demanded white paper on deferred expenditure, diversion of funds, off budget loans and contingent liabilities.
Since PPCC President Partap Singh Bajwa was out of station he will be personally meeting the chairman of Finance Commission at Delhi soon to discuss the dire fiscal mess of Punjab, said party leaders. Meanwhile, Bajwa has conveyed his serious doubts about the intention and political will of the SAD-BJP regime to set the economy in order.
The PPCC team said that in fact Punjab’s fiscal indicators are the worst in the whole country. Anyth2ing worse than this, perhaps, is the repeated claim by the Government that the state is in the pink of fiscal health. Whether it is revenue deficit, fiscal deficit or public debt, it has crossed all limits of sustainability.
The PPCC stated that the 13th Finance Commission had assessed the Punjab state along with Kerala and West Bengal as the most financially stressed states in the country and had recommended a special package for restructuring their finances to bring them back to financial health. Not only did the State not avail of this opportunity, but started resorting to selling properties, diversion of funds and raising off budget loans to meet its day to day requirements.
Punjab Congress has also demanded special economic package for the border districts in background of special package given to neighbouring hilly states. If the entire state cannot be covered at least the districts of Gurdaspur, Amritsar, Tarn Taran and Ferozepur bordering Pakistan should be granted these concessions. It also urged that a special package of Rs 5000 crores be devised to incentive production and diversification in the farm sector of Punjab.