Punjab Finance Minister Parminder Singh Dhindsa on Friday presented Rs25,292.96 crore vote-on-account for four months till July 31 instead of the full budget, making claims that the State was on the path of fiscal consolidation.
The State Government would present the full budget for 2014-15 after the general elections. “Vote-on-account for April-July is based on revised estimates for current fiscal and estimates for 2014-15. We will present full budget for 2014-15 after the general elections to lok Sabha in light of fresh and people friendly policies of new Central Government,” said Dhindsa during his speech in the State Assembly.
At the same time, Dhindsa asserted that the Congress-led Central Government for its discriminatory attitude towards Punjab, and demanded more devolution of funds from the Centre to States.
Maintaining that the State has “done fairly” despite global slowdown, Dhindsa said that the States expected to achieve growth rate of 5.30 per cent in 2013-14 against the national growth of 4.86 per cent.
“The State attained growth rate of 6.8 per cent during 2007-12 as against Planning Commission estimates of 5.9 per cent,” he pointed.
Dhindsa, admitting that the revenue deficit elimination might take “some more time”, said that the revenue deficit stood at Rs2,515 crore as on December 2013 as compared to Rs3,970 crore in corresponding period.“In view of high asset base of the State which leads to high maintenance expenditure, low State share in Central taxes, historically high level of outstanding debt and high salary expenditure, the elimination of revenue deficit may take some time,” he said.
He pointed that average revenue deficit as percentage of GSDP improved from 2.91 per cent in 2002-07 to 2.47 per cent in 2007-12.
The fiscal deficit up to December 2013 was Rs4,102 crore as against Rs5,144 crore in corresponding period of previous year.
The budget estimates for 2013-14 projected fiscal deficit of Rs9,258 crore which is 2.90 per cent of GSDP as against upper limit of three per cent fixed by 13th Finance Commission.
“These figures show that the state is firmly on the path of fiscal consolidation,” he said.
On the issue of debt to GSDP, Dhindsa said that total outstanding debt of the State as on March 31, 2013 was Rs92,282 crore which is 32.18 per cent of GSDP of the State as against upper limit of 41 per cent fixed by 13th finance commission for 2012-13.
‘We expect big relief IF NDA comes to power’
Expressing hope that the BJP-led NDA would form the next Government at the Centre after 2014 general elections, Finance Minister Parminder Singh Dhindsa said that the State Government would then seek relief from the “burgeoning” debt which is expected to cross Rs1 lakh crore in current fiscal. “We expect a very big relief when NDA comes to power... We will surely raise the demand for debt relief from the NDA Government,” said Dhindsa told reporters here on the sidelines of Punjab Assembly. Punjab Government is hoping for debt relief in the shape of rescheduling of loan or interest subvention on borrowings. “It is sure that we will get relief. Our case is genuine and strong. A lot of things can be worked out,” he added. SAD-BJP led Punjab Government has been attributing huge debt largely to militancy and inadequate support from the Centre. Already carrying a dubious tag of “debt stressed” State, Punjab’s total outstanding debt is projected to cross whopping Rs1 lakh crore mark in current fiscal. The outstanding debt of the State by end of 2013-14 was expected Rs1,02,282 crore (budget estimates) with reserve funds and Rs95,670 crore without reserve funds.
Cong legislators stage walkout protest
The Congress legislators on Friday staged a walkout protesting against the Speaker Charanjit Singh’s denial to hold ‘zero hour’, leading to the adjournment of the House for 15 minutes. Soon after the question hour ended, Congress MlA Balbir Singh Sidhu asked to raise an issue. Other party MlAs Charanjit Singh Channi, Ajit Inder Singh Mofar, Raja Amarinder Singh Warring also joined him urging the Speaker to initiate ‘zero hour’.Refusing, the Speaker contended that on the day of budget or vote-on-account, it was “not a tradition” to have zero hour. This follows the slogans by the Congress MlAs against the Government and the Speaker who later jumped into well of the House, leading to 15-minute adjournment. As the House resumed, the Congress MlAs, in the absence of leader of Opposition Sunil Jakhar, again demanded to conduct zero hour. Considering Speaker Atwal’s tough stand, the Congress MlAs again trooped into the well and finally staged a walkout to register their protest.
Reconsider ‘no fail till class VIII’, demands Punjab CM
Punjab Chief Minister Parkash Singh Badal on Friday maintained that the State Government would reconsider its ‘no fail till Class VIII’ scheme in the Government schools.The assertion came after the MlAs, cutting across the party lines, expressed their concern over the scheme during the question hour in response to the query of Congress MlA Gurkirat Singh Kotli. He maintained that the scheme has resulted in drop out of students and decreasing level of seriousness which is causing a great loss to the State’s education. The State Government, as of now, has the policy of not failing any student up to the eight standard. Former education minister and SAD MlA Tota Singh said that due to this scheme, the students at times don’t even know counting when they reach Class XI. “Education is a State subject and the practice of not failing students up to Class VIII should be stopped,” he said stressing that this would improve the standard of education in the Government schools. Speaker Charanjit Singh Atwal told the Assembly that it was the Centre’s policy not to fail any student till he or she reaches Class VIII, and this is causing less number of students going for the higher studies. Badal opined that schools must conduct tests of students till Class VIII, and stated that the State Government will take a decision on whether to hold examinations of students till Class VIII, once the lok Sabha polls are over.
Punjab Assembly passes 7 bills, withdraws 4 in absence of Opp
Punjab Assembly on Friday passed seven bills, and withdrew four in 32 minutes in the absence of the Opposition with brief debate by the treasury benches on the last day of the Budget session. Giving its nod to the Punjab Excise (Amendment) Bill, 2014, the House approved to fix maximum retail price of liquor in the state. The Bill was introduced considering that sometimes, after a draw of lots, the licensees join hands to form cartels to maximise their profits by charging exorbitant prices from consumers. Besides, the House also passed six other bills, including Punjab labour Welfare Fund (Amendment) Bill 2014, Punjab Municipal Infrastructure Development Fund (Amendment) Bill 2014, Punjab Panchayati Raj (Amendment) Bill, 2014, Punjab Right to Service (Amendment) Bill, 2014, Punjab
Value Added Tax (Amendment) Bill, 2014 and Punjab Prevention of Human Smuggling (Amendment) Bill, 2014. Four bills including Punjab Municipal Corporation (Amendment) Bill 2014, Punjab Municipal (Amendment) Bill, 2014, Punjab Regulation of Fees of Unaided Educational Institutions Bill, 2014 and Punjab Technical University (Amendment) Bill, 2014 were withdrawn as they need “some more amendments” as informed by the Parliamentary Affairs Minister Madan Mohan Mittal.