Chandigarh, October 25: Perturbed over the precarious financial health of Punjab, Chief Minister Capt Amarinder Singh on Wednesday took a review meeting of the Finance Department. With bills worth Rs 5,000 crore pending with the treasury and retirees still awaiting their dues, the government has almost come to a standstill.
The results of the first five months of the fiscal were discussed, it was found that the fiscal deficit has touched Rs 3,455.24 crore, with the state’s revenue receipts being just Rs 17,529.25 crore and expenditure touching Rs 21,582.63 crore. If the government were to clear the pending bills, the revenue deficit would be much higher, the CM was informed.
Amarinder is learnt to have issued directions to the Finance Department to come up with a concrete proposal for resource mobilisation without burdening the common man by November 4.
With the grants-in-aid and contribution from the Centre just trickling in, Punjab is facing one of its worst financial crises ever. The state has been availing its ways and means advances limit, and last month had to face the ire of its employees as payment of even salaries got delayed.
Till August 31, Punjab received just Rs 1,453.67 crore as grants-in-aid and contribution from the Centre, as against Rs 6,678 crore the state should get this fiscal. This is just 21 per cent of the aid, even though half the year is now over.
Discussions
Discussions
