Chandigarh: Punjab Congress on Thursday demanded a white paper on the finances of Punjab, flagging that the state’s debt had crossed the Rs 4-lakh-crore “redline” and was projected to reach Rs 4.17 crore by the end of this fiscal. “Reckless borrowing by AAP govt has brought Punjab to the brink of bankruptcy,” the party warned.Reacting to the debt burden, Punjab Congress president Amrinder Singh Raja Warring said while all previous govts during the last three decades too borrowed, the present govt borrowed with wanton greed, without caring for the future of the state. He said while previous govts accumulated a debt of Rs 3 lakh crore over 30 years, AAP govt added over Rs 1 lakh crore to the state debt in just four years, and that too mostly for unproductive purposes. He pointed out that there was not a single infrastructure project launched during the last four years. Warring said this was quite contrary to the claims of fiscal prudence and revenue generation promised by AAP leadership. “Now the situation is such that the state govt has to take out a loan to pay the interest on the existing loans,” he said. “Public money is not meant for political branding,” he remarked, adding, “when the state is drowning in debt, every rupee should strengthen Punjab’s economy and institutions and not promote a party’s image.”
