'Punjab Most Indebted State In India': Navjot Singh Sidhu Seeks Focus On 'Real Issues'
While noting that half of Punjab's expenditure was funded by expensive debt, the Senior Congress leader said that borrowing money is not a way to go forward.
New Delhi: Punjab Congress Chief Navjot Singh Sidhu on Monday, while stressing that taxes should go back to people as a form of development and not be used to settle debts, called Punjab the most indebted state in the nation.
While noting that half of Punjab's expenditure was funded by expensive debt, the Senior Congress leader said that borrowing money is not a way to go forward.
Taking to Twitter, Punjab Congress Chief on his official handle writes, "Today, Punjab is the most indebted state in India. Debt accounts for 50 per cent of the state GDP. Half of our expenditure is funded by expensive debt. Let's not derail from real issues to which every Punjabi & party worker demands solution because there's #PunjabBeyond2022 #HaqiqatPunjabDi."
Today Punjab is the most indebted state in India. Debt accounts for 50% of State GDP. Half of our expenditure is funded by expensive debt. Lets not derail from real issues to which every Punjabi & party worker demands solution, because there's #PunjabBeyond2022#HaqiqatPunjabDi
— Navjot Singh Sidhu (@sherryontopp) November 15, 2021
Stressing that financial accountability and transparency are the pillars of the Punjab model, the Senior Congress leader further said, "Accountability demands revealing sources of funds at every scheme announcement, whether from income or from more debt. Transparency demands making public state's fiscal health every month."
By the end of March next year, the state's outstanding debt is expected to reach Rs 2.73 lakh crore.
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