Chandigarh, August 23: The Punjab Bharatiya Janata Party (BJP) President, Kailash Singh Dhillon, launched a sharp attack on the Aam Aadmi Party (AAP) government’s economic policies and financial mismanagement on Sunday. He stated that instead of leading Punjab on the path of development, the state government has pushed it into a debt trap.
Dhillon pointed out that before the AAP came to power, the state’s debt stood at approximately ₹28 lakh crore. However, during the nearly four-and-a-half years of the state government’s tenure, this debt has surged to around ₹45 lakh crore.
He emphasized that the government is continuously taking on new loans, yet there has been no substantial improvement in the state’s revenue, production capacity, or infrastructure despite the rising debt.
The seriousness of Punjab’s financial situation is evident, as Powercom is now preparing to take on a new loan of ₹10,000 crore. Previously, the Greater Mohali Area Development Authority (GMADA) had also decided to raise ₹15,000 crore.
Dhillon further stated that the continuous reliance of government institutions on loans is a grave indicator of Punjab’s deteriorating financial condition. He questioned why, if the government’s financial position is so strong, institutions are repeatedly forced to take on heavy loans to meet their needs.
He also highlighted that arranging these loans incurs millions in fees for merchant bankers and other financial intermediaries, adding an extra burden on the state treasury. Dhillon accused the government of plundering Punjab while spending public funds on advertisements and political propaganda.
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Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.