Where was Rs 3 lakh crore raised as loans disappear, AAP quizzes former Punjab governments on debt

The Aam Aadmi party denounced previous governments for putting Punjab in debt. Punjab Chief Minister Bhagwant Mann accused previous governments of pushing the state into a debt trap and said his government would investigate the use of the money.

“I know where that money is. It belongs to the people and we can’t just leave it saying it’s a thing of the past,” said CM Bhagwant Mann.

According to AAP leaders, the previous waiver made no significant progress in the state in building new hospitals, schools, colleges or universities.

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AAP spokesman Malvinder Singh Kang wondered, “When no major development work was done, where did the three lakh crore rupees raised in loans go? Governments precedents will have to answer where they spent that money as various government institutions suffered losses.”

Take a look at the debt inherited by previous Punjab governments:

  • In 2007, the SAD-BJP government inherited the debt of Rs 51,153 crore from the Congress government
  • In 2017, the Congress government inherited the debt of Rs 1.82,183 lakh crore from the SAD-BJP government
  • In 2022, the AAP inherited a debt of Rs 2.73 lakh crore from the Congress government

Successive Punjab governments over the past 15 years have added more than Rs 2.2 lakh crore in debt. The state’s public debt is also expected to reach Rs 3.73,988 lakh crores by 2024-25. CAG report says public debt will reach 6,33,159 Cr by 2028-29

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Akali Dal welcomes AAP’s decision to probe spending

Meanwhile, Shiromani Akali Dal, who has been part of the SAD-BJP alliance for two consecutive terms, hailed the AAP government’s decision to check where the money was spent.

“We have already welcomed the decision. The Punjab government can investigate anything and if anyone has misused public funds, they should be punished. But please don’t try to postpone safeguards , including Rs 1000 per month for women and free 300 Power Units,” said Senior Chef of Akali Dal, Dr. Daljit Singh Cheema.

The leader of Akali Dal says that all states raise loans for development. According to him, the SAD-BJP government has maintained a balance between debt and GSDP.

“The ratio of throughput to GSDP was 45 under the Congress government…they are responsible for this discrepancy. Congressional leaders should clarify why the ratio reached this level,” Cheema said.

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He also added that the Election Commission of India should issue guidelines on ballot manifestos.

“Poll manifestos should become a legal document. The Congress government promised to forgive farmers’ debt last time. The current government has promised free electricity and monthly stipends. There is an urgent need to stop this The representation of peoples, if necessary, should be changed accordingly. The accountability of political parties should be fixed,” he said.

AAP Gov wants to divert public attention: BJP

The BJP said the move to investigate spending during the previous government’s tenure is AAP’s tactic to avoid public anger. BJP leader Vineet Joshi said the AAP was trying to divert public attention in the name of the investigation.

“The Aam Aadmi party is trying to divert public attention as the government is unable to fulfill the election guarantees. Kejriwal knew that Punjab was under the trap of huge debt. “He didn’t think about doing the guarantees. Aap is trying to find a loophole to get rid of the guarantees by raising the issue of borrowing raised by previous governments. They just want to confuse people,” Vineet Joshi said.

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