The Bharatiya Janata Party (BJP) criticized the Punjab government, accusing it of driving the state toward economic collapse through the alleged misuse of resources and excessive indebtedness.
According to Chugh, the AAP government, led by Chief Minister Bhagwant Mann, has placed Punjab in a precarious economic position by mismanaging resources and accumulating an unprecedented level of debt.
Chugh called for a detailed report on the state’s economic status, warning that continued decline could force Punjab to declare a financial emergency similar to Sri Lanka’s situation.
He highlighted the concerning trend of increasing debt-to-GDP ratio, which has surpassed the recommended threshold set by the RBI, reaching 45 percent.
Furthermore, Chugh pointed out that despite borrowing heavily, Punjab’s total debt has soared to a staggering Rs 3.7 lakh crores, with a notable decrease in capital expenditure.
He criticized the reduction in budget allocations for crucial sectors such as rural development, agriculture, small-scale industries, and infrastructure.
Chugh emphasized the absence of special welfare schemes for marginalized communities under the AAP government, indicating a failure in promoting inclusive growth.
Moreover, he expressed concern over significant cuts in allocations for village and small-scale industries, roads and bridges, and agriculture and allied sectors, attributing these actions to what he described as misguided policies of the AAP government in Punjab.
