Badal has resigned to bankruptcy as fait accompli for Punjab : Capt Amarinder

Chandigarh, Congress Deputy Leader in the Lok Sabha Capt Amarinder Singh today said that the Akalis appear to have resigned to bankruptcy as the fait accompli for Punjab as nobody seems to be concerned over the financial situation in the state. “Rather this government now seems to have learnt the art of surviving in instalments only”, he remarked while adding, “the financial emergency in Punjab does not appear to be too distant anymore”

Referring to the state of finances, with the Reserve Bank of India almost stopping all the payments for financial profligacy amidst depleting receipts, Capt Amarinder also questioned the sincerity of the Chief Minister Parkash Singh Badal in promising and doling out liberal grants in Dhuri assembly segment in anticipation of the byelections there when he knew there was no money available with the state. “I wonder how Mr Badal has promised projects worth over Rs 25 crores when he literally does not have a single penny in the state treasury”, he said.

The former Chief Minister pointed out, there was a recurring gap of Rs 600 crores between revenue and expenditure and there is no concern or attempt being made to bridge this gap. Coupled with it, he added, is the depleting revenue from VAT and state taxes which is because of lack of much business activity.

The Congress leader warned that the situation was going to be much worse in coming months as there does not appear to be any way out. He pointed out, with no fresh investments coming to the state and the existing industry either closing down or moving out of the state the revenue receipts are likely to deplete further thus pushing the state into further financial mess and an imminent financial emergency.

Capt Amarinder reiterated that this government was never serious about the state of economy. “While the Chief Minister is off to his favourite pastime of holding Sangat Darshan at Dhuri issuing post dated cheques against bankrupt accounts, his Deputy Chief Minister son Sukhbir Badal is campaigning in Delhi and Punjab has been left orphaned”, he pointed out, while doubting the Akalis’ will to govern seriously.