Facing a daunting task of fulfilling pre-poll promises despite precarious financial situation, Punjab Finance Minister Manpreet Badal on Tuesday untie his purse strings to announce slew of new initiatives. Ardent admirer of Shaheed-e-Azam Bhagat Singh, Manpreet is even mulling of putting his “hero’s” picture on smart phones the Government has proposed to give to State’s youth. Mincing no words to accuse the previous SAD-BJP combine of “lying” through budget figures, Manpreet said he had not made any attempt to hide anything. He also stressed there was much more needed to be done to save the farmers from the debt’s vicious circle. Excerpts:
What major poll promises have been met through Congress Government’s first budgetIJ
lot many...Main is the farm debt waiver. We have kept an outlay of Rs 1,500 crore for the same. Second is smart phones. Then, we have increased assistance under Shagun scheme which is now Aashirwad scheme. Pension has been enhanced.
How Rs 1,500 crore would help in waiving off around Rs 90,000 crore loan of lakhs of state’s farmersIJ
I know this is not enough but it is enough for paying the first instalment to the banks. The Government is going to take over entire loan of nearly 10,200 farmers they have taken from PSUs, all commercial banks including co-operative banks, by giving guarantee. They will be free from debt, fir hum jaane aur bank jaane (then it would be between the Government and the banks).
But how to make sure farmers don’t face similar situation, how to save them from falling again in this debt trapIJ
That we are working out. Expert Committee under T Haque is looking into all aspects. But I believe that debt waiver alone cannot solve this problem. While doing so, we have to create jobs for their children, develop their skills. We may also work out one time settlement kind of thing with the banks. Punjab is highly indebted State, but I would make efforts to fund the debt waiver scheme fully step by step.
Would Rs 10 crore be enough for providing mobile phones to all state’s youthIJ
We may not have to use this amount at all. I hope so...We are going to float a global tender...even many companies are ready to provide phones to us free of cost as many telecom companies are competing to have their footprints in the market.
What you have to say about SAD’s white paperIJ
People of Punjab have already given their mandate for that...there was no need to bring that in the Assembly.
Budget does not give roadmap from where the money will come.
I am hopeful that after implementation of GST, the State revenue collection would go up and it will help meet the deficit. I am not in position to impose new taxes because of GST. But I must mention that this time, the VAT collection has increased by 30 percent.
What about Rs 31,000 crore food scamIJ
Heavens would not have fall if the previous government would not sign loan settlement agreement with the Centre a day before the election result was to be announced. They pushed the state into debt trap. A third party audit is underway to see if there was an embezzlement in the gap of Rs 31000 crores in the food procurement or the amount is outstanding due to some other reason.