Punjab to borrow more as debt burden mounts
4 months, 3 weeks ago

Punjab to borrow more as debt burden mounts

Hindustan Times  

Amid concerns over rising state debt, the Punjab government has planned to borrow ₹5,000 crore in the third quarter of the current fiscal year. The state government has been on a borrowing spree, raising ₹21,119 crore in the first half of the 2024-25 financial year, which amounts to approximately 70% of the net borrowing of ₹30,464.92 crore projected in the budget estimates 2024-25. These borrowings have sparked concerns over the state’s growing debt, which is projected to rise to a staggering ₹3.74 lakh crore by the end of the financial year 2024-25. The opposition parties have repeatedly accused the present government of “fiscal mismanagement” and pushing the state into a “debt trap”, while the ruling AAP has blamed the fiscal mess it inherited two-and-a-half years on previous governments’ profligacy, failure to make capital investments and inability to realise potential and non-tax revenues.

State Crore Punjab Borrowing Borrow Financial Debt  burden  crore  punjab  borrow  fiscal  borrowing  mounts  planned  revenue  state  raised  financial  debt

History of this topic

Punjab debt likely to touch Rs 4.17L cr by yr-end
2 days, 12 hours ago

Punjab debt likely to touch Rs 4.17L cr by yr-end

New Indian Express  

CHANDIGARH: The cash-strapped Aam Aadmi Party government in Punjab is expected to take a loan of Rs 49,900 crore this year, pushing public debt by the end of March next to a staggering Rs 4.17 lakh crore. By March 31, 2026, the total debt of Punjab will stand at Rs 4,17,136.10 crore, an approximate 9-percent increase from the current outstanding …

Punjab Budget 2025: Total expenditure of ₹2.36 lakh crore, state's first ‘drug census’ | Key announcements
Trending News
4 days, 4 hours ago

Punjab Budget 2025: Total expenditure of ₹2.36 lakh crore, state's first ‘drug census’ | Key announcements

Hindustan Times  

Punjab Budget 2025: Punjab finance minister Harpal Singh Cheema on Wednesday presented the state budget for 2025-26 in the assembly, making it the Aam Aadmi Party government's third budget after coming to power in the region in 2022. Punjab finance minister Harpal Singh Cheema presented the budget as chief minister Bhagwant Mann looked on in the Vidhan Sabha in Chandigarh. …

Punjab second-most indebted state in country, reveals data
5 days, 7 hours ago

Punjab second-most indebted state in country, reveals data

Hindustan Times  

Punjab is the second-most indebted state in the country in terms of debt to gross state domestic product ratio, according to the data shared by Union minister of state for finance Pankaj Chaudhary on Monday. Union minister of state for finance Pankaj Chaudhary shared this information on the estimated outstanding liabilities and debt to GSDP ratio of all states as …

We have pre-paid large chunk of high-cost govt debt, to help state borrowings: FM
2 weeks, 4 days ago

We have pre-paid large chunk of high-cost govt debt, to help state borrowings: FM

Live Mint  

New Delhi: The government has pre-paid a large chunk of its high-cost debt this financial year with a favourable effect to the borrowing cost of Central and state governments, finance minister Nirmala Sitharaman said on Tuesday. Replying to the debate in Lok Sabha on the second ‘supplementary demands for grants’ for FY25 presented on Monday, Sitharaman said that the request …

State borrowings to surge about 18% in Q4 after slowing Q2 GDP growth
2 months, 3 weeks ago

State borrowings to surge about 18% in Q4 after slowing Q2 GDP growth

Live Mint  

India’s state governments appear to be priming themselves for a significant capital expenditure push in the current quarter, offering hope of a drive towards reviving the pace of India’s economic growth after a succession of slow-growing quarters. The rise in state borrowings offers hope of a push towards broader economic recovery, following a notable slowdown in India’s gross domestic product …

Punjab & Sind Bank plans to raise ₹3,000 cr from maiden infrastructure bonds this month
3 months, 2 weeks ago

Punjab & Sind Bank plans to raise ₹3,000 cr from maiden infrastructure bonds this month

Live Mint  

New Delhi, Dec 12 State-owned Punjab & Sind Bank plans to raise ₹3,000 crore from maiden infrastructure bonds this month as part of exercise to raise resources to expand loan book. As against that, the bank proposes to raise ₹3,000 crore in the first tranche," Punjab & Sind Bank Managing Director and CEO Swarup Kumar Saha said. For the second …

Punjab: AAP eyes image boost with course correction
6 months ago

Punjab: AAP eyes image boost with course correction

Hindustan Times  

Chandigarh : The latest reshuffle, fourth in 30 months, in the Punjab cabinet is seen as Bhagwant Mann-led Aam Aadmi Party’s strategic effort to give party an image makeover and inject fresh blood into governance that has come under increasing Opposition scrutiny. The latest reshuffle, fourth in 30 months, in the Punjab cabinet is seen as Bhagwant Mann-led Aam Aadmi …

Punjab FM flays Centre for withholding funds, as he presents budget
1 year ago

Punjab FM flays Centre for withholding funds, as he presents budget

The Hindu  

Punjab Finance Minister Harpal Singh Cheema on Tuesday presented the Aam Aadmi Party government’s budget proposal for the year 2024-25 with a total outlay of ₹2,04,918 crore, focusing on education, health and agriculture. “Withholding of the rightful share of the State, totaling ₹8,000 crore approximately, on account of National Health Mission, Rural Development Fund, Mandi Development Fund, and Special Assistance …

Mint Primer: Government borrowing: What it means for the economy
1 year, 6 months ago

Mint Primer: Government borrowing: What it means for the economy

Live Mint  

NEW DELHI : The central government on Tuesday announced that it will borrow ₹6.55 trillion during the second half of the ongoing fiscal year, keeping its borrowing plans unchanged. The central government will borrow ₹6.55 trillion during the second half of the ongoing fiscal year, which comprises 42.45% of its gross market borrowing of ₹15.43 trillion for the full year. …

Himachal’s per capita debt over ₹1 lakh: Govt white paper
1 year, 6 months ago

Himachal’s per capita debt over ₹1 lakh: Govt white paper

Hindustan Times  

Himachal deputy chief minister Mukesh Agnihotri on Thursday presented a white paper on the financial condition of the state and said that due to the mess created by the previous Bharatiya Janata Party dispensation, there is a debt of ₹1,02,818 on each person in the hill state. The deputy CM said the former Bharatiya Janata Party dispensation had taken a …

Pakistan Government debt swells to ₹58.6 trillion
1 year, 9 months ago

Pakistan Government debt swells to ₹58.6 trillion

The Hindu  

The Pakistan Government‘s total debt has increased 34.1% year-on-year to ₹58.6 trillion at the end of April, according to the latest report issued by the country’s central bank. Within the domestic debt, the largest share was of the Federal Government bonds that represented almost ₹25 trillion worth of loans. Pakistan, currently in the throes of a major political as well …

States may undershoot planned borrowings for Jan.-March: analysts
2 years, 2 months ago

States may undershoot planned borrowings for Jan.-March: analysts

The Hindu  

States may not borrow as much as the record $41 billion they plan to in the January-March quarter, which will help keep the spread between State and central government bond yields in check, analysts said. States plan to sell bonds worth ₹3.41 trillion, the highest quarterly borrowing ever scheduled, in the last three months of the financial year, according to …

Can Punjab pull itself out of this mess? | OPINION
2 years, 4 months ago

Can Punjab pull itself out of this mess? | OPINION

India Today  

If you have ever heard the phrase, “nasty, brutish and short”, you probably know about the rather pessimistic thinker who came up with it, Thomas Hobbes. When the famous Punjabi singer Siddhu Moose Wala was brutally murdered in broad daylight, many people thought that the two-month-old AAP government is a new government and may take some more time to control …

'AAP pushing Punjab towards bankruptcy': Congress slams state govt for heavy borrowing
2 years, 5 months ago

'AAP pushing Punjab towards bankruptcy': Congress slams state govt for heavy borrowing

India Today  

Punjab's Congress president Amarinder Singh Raja Warring warned the Aam Aadmi Party against fiscal profligacy, which can push the state into bankruptcy. Pointing out that the AAP-led government in Punjab has already taken a debt of Rs 11,464 crores in the last six months, Warring said the total borrowing will cross Rs 1 lakh crore in five years. Warring said …

Punjab FM presents AAP govt's first budget for FY 2022-23; health, agri, education key focus areas
2 years, 9 months ago

Punjab FM presents AAP govt's first budget for FY 2022-23; health, agri, education key focus areas

India TV News  

Highlights Cheema said the government has proposed to start the Punjab Young Entrepreneur programme Under this programme, the state government will provide seed money of Rs 2,000 per student Cheema also announced that the government will set up 16 new medical colleges over five years Punjab: AAP government's first budget for FY23 was presented in the state assembly by Punjab …

Bhagwant Mann Orders Probe into Punjab’s Rs 3 Lakh Crore Debt; Oppn Says Enquire AAP’s Ad Spending
2 years, 11 months ago

Bhagwant Mann Orders Probe into Punjab’s Rs 3 Lakh Crore Debt; Oppn Says Enquire AAP’s Ad Spending

News 18  

After announcing free power scheme in Punjab, chief minister Bhagwant Mann on Monday ordered probe into state’s debt worth Rs 3 lakh crore piled up allegedly by successive governments. If added to the previous years’ debt of Rs 2.48 lakh crore, the total debt would be Rs 2.67 lakh crore. While welcoming the CM’s decision, the Shiromani Akali Dal has …

'Punjab saddled with debt due to previous governments', says CM Bhagwant Mann
2 years, 11 months ago

'Punjab saddled with debt due to previous governments', says CM Bhagwant Mann

India TV News  

Highlights Punjab CM Mann accused the previous governments of pushing the state into debt He claimed that his government will inquire where the money was used and recover it. 'Every child born in Punjab has a debt of Rs1 lakh on their head', claimed AAP leader Raghav Chadha Punjab Chief Minister Bhagwant Mann on Monday accused the previous governments of …

Challenges before AAP's government in Punjab: How to create jobs while reducing debt burden
3 years ago

Challenges before AAP's government in Punjab: How to create jobs while reducing debt burden

India Today  

A change of guard in Punjab, five years ago, came with an assurance to bring down the state’s debt burden. As per the latest data, Punjab’s total liability is more than 50 per cent of the state’s GDP. 2.5 lakh crores, revenue grew 31 per cent from Rs. Punjab and India both clocked a GDP growth of four per cent …

Punjab to waive off debt up to ₹2 lakh for small and marginal farmers
3 years, 3 months ago

Punjab to waive off debt up to ₹2 lakh for small and marginal farmers

Hindustan Times  

Punjab chief minister Charanjit Singh Channi on Friday announced the Congress-led state government will waive off debts of up to ₹2 lakh for the remaining 1.09 lakh small and marginal farmers, who own land up to five acres. Punjab chief minister Charanjit Singh Channi This measure—costing ₹1,200 crore in state funds—is to be implemented within 10 days, said the chief …

Punjab polls: What freebies offered by political parties will cost state
3 years, 3 months ago

Punjab polls: What freebies offered by political parties will cost state

India Today  

Ahead of the upcoming assembly elections in the state, political parties in Punjab are relying heavily on freebies and doles to attract voters. While the Aam Aadmi Party has announced that it will transfer Rs 1000 per month to every woman aged 18 or above, Shiromani Akali Dal has also promised Rs 2,000 to each blue card holder woman. When …

Punjab most indebted state, borrowing is not the way forward: Navjot Singh Sidhu
3 years, 4 months ago

Punjab most indebted state, borrowing is not the way forward: Navjot Singh Sidhu

India TV News  

Congress leader Navjot Singh Sidhu on Monday called Punjab as the most indebted state in the country, stressing that taxes should not settle debt but should go back to the people in the shape of development. The Punjab Congress chief further said borrowing was not the way forward adding that the half of the state's expenditure was funded by expensive …

Punjab Government Borrowing Out of Problems... Or into a Mess?
4 years ago

Punjab Government Borrowing Out of Problems... Or into a Mess?

News 18  

The Punjab government appears to be in full campaign mode with the announcement of a populist budget for 2021-22. For instance, the state is over projecting its revenue receipts for 2021-22 at Rs 95,257 crore, a jump of almost 32 per cent over its revenue receipts of Rs 72,042 crore in 2020-21. Admittedly, revenue receipts in 2020-21 were down due …

After Deadlock Over GST Shortfall, Finance Ministry Says Centre to Borrow and Pass Amount to States
4 years, 5 months ago

After Deadlock Over GST Shortfall, Finance Ministry Says Centre to Borrow and Pass Amount to States

News 18  

Finance Ministry on Thursday said the central government will borrow Rs 1.1 lakh crore to make up for the shortfall in GST of states. If the centre has decided to borrow the Rs 1.1 lakh crore and extend it to the states as a back-to-loans, I welcome the change of position. — P. Chidambaram October 15, 2020 The second GST …

States' Market Borrowings Jump 55% to Rs 3.75 Lakh Crore So Far This Fiscal
4 years, 5 months ago

States' Market Borrowings Jump 55% to Rs 3.75 Lakh Crore So Far This Fiscal

News 18  

The states' market borrowings have jumped 55 per cent to Rs 3.75 lakh crore so far this fiscal, or 75 per cent of the budgeted amount, with 17 of them raising an additional Rs 22,350 crore from the latest auction of state development loans held on Tuesday. So far this fiscal year, 28 states and two Union Territories have cumulatively …

Government to borrow ₹4.34 trillion in H2 as planned in May
4 years, 5 months ago

Government to borrow ₹4.34 trillion in H2 as planned in May

Live Mint  

NEW DELHI: The central government on Wednesday said it will borrow ₹4.34 trillion in the second half of the fiscal, sticking to its ₹12 trillion borrowing plan for the whole year as decided in May. Economic affairs secretary Tarun Bajaj, at a briefing, said the borrowing target was raised to ₹12 trillion in May from the originally budgeted figure of …

State borrowings set to rise 53% in first half: Care Ratings
4 years, 8 months ago

State borrowings set to rise 53% in first half: Care Ratings

The Hindu  

In an indication of liquidity issues, 13 States are found to have raised ₹12,750 crore through auction of State Government securities or State Development Loans on July 7. So far in the current fiscal, 23 States and one UT have cumulatively raised ₹1.8 lakh crore via market borrowings, which is an increase of 75% from the borrowings in the corresponding …

Imran Khan govt breaks all previous records in borrowing money
5 years, 5 months ago

Imran Khan govt breaks all previous records in borrowing money

India TV News  

Imran Khan govt breaks all previous records in borrowing money The government's tax collection in the first quarter of the current fiscal was Rs 960 billion while the target was Rs 1 trillion, the report said. Breaking all previous records of borrowing money, Pakistan's ruling Imran Khan government has recorded Rs 7,509 billion increase in the total debt of the …

Maharashtra economic survey: High goals, but state’s growth rate low
5 years, 9 months ago

Maharashtra economic survey: High goals, but state’s growth rate low

Hindustan Times  

While the government has set an ambitious target of making Maharashtra a trillion-dollar economy by 2025, the economic survey 2018-19 presented in the legislature on Monday showed the growth rate has remained at 7.5% of the Gross State Domestic Product, the same as 2017-18. The drop in the agriculture growth by 2.7% against last year has resulted in the decline …

Govt to make additional borrowing of Rs 36,000 crore during current fiscal through dated securities
6 years, 1 month ago

Govt to make additional borrowing of Rs 36,000 crore during current fiscal through dated securities

Firstpost  

As per the calender issued previously, the last tranche for borrowing through government bonds was to complete in the week ending 8 March, 2019. New Delhi: The government has decided to raise additional Rs 36,000 crore through dated securities to fund its expenses during the current financial year. However, the government has decided to borrow additional Rs 36,000 crore through …

Punjab seeks debt relief package from the 15th Finance Commission to revive fiscal health
6 years, 2 months ago

Punjab seeks debt relief package from the 15th Finance Commission to revive fiscal health

Firstpost  

The Punjab government on Wednesday sought a special debt relief package from the 15th Finance Commission to revive the state’s fiscal health Chandigarh: The Punjab government on Wednesday sought a special debt relief package from the 15th Finance Commission to revive the state’s fiscal health. At a meeting of the 15th Finance Commission here, led by its Chairman N K …

Govt to borrow Rs 2.88 lakh crore in April-Sept; to issue inflation indexed bond
7 years ago

Govt to borrow Rs 2.88 lakh crore in April-Sept; to issue inflation indexed bond

India TV News  

The government will borrow Rs 2.88 lakh crore in the April-September period of next fiscal, which is 47.56 per cent of the budgeted gross borrowing. In April-September of current fiscal, the gross borrowing was Rs 3.72 lakh crore. He further said that the budgeted gross borrowing through G-Secs for fiscal 2018-19 was Rs 6.05 lakh crore which would be used …

Punjab govt clears Rs 580 cr more for debt waiver for farmers
7 years, 2 months ago

Punjab govt clears Rs 580 cr more for debt waiver for farmers

India TV News  

The Punjab government has cleared an amount of Rs 580 crore to give debt waiver to nearly 1.15 lakh debt-ridden farmers in the state. Chief Minister Amarinder Singh cleared the 1.15 lakh more cases for debt waiver amounting to Rs 580 crore, with certificates to be disbursed to farmers across the state before January 31, a government spokesman said on …

Farm loan waiver could cost Punjab Rs10,000 crore
7 years, 9 months ago

Farm loan waiver could cost Punjab Rs10,000 crore

Live Mint  

New Delhi: The waiver of crop loans of over a million small and marginal farmers in Punjab is likely to cost the state government around ₹ 0,000 crore. “The farm loan waiver is likely to cost the state Rs10,000 crore,” said an official aware of the development requesting anonymity. In April, the newly elected Uttar Pradesh government announced it will …

As fiscal ends, new Punjab govt stares at Rs 17K-­crore bills
7 years, 11 months ago

As fiscal ends, new Punjab govt stares at Rs 17K-­crore bills

Hindustan Times  

The Captain Amarinder Singh government’s call for austerity may well be more than symbolism. Sadly, the previous government has not left us even that luxury,” says Punjab finance minister Manpreet Badal. Chief minister Captain Amarinder Singh will on Saturday review the Urban-Rural mission, the pet pre-poll project of former deputy chief minister Sukhbir Badal, under which infrastructure works — roads, …

Congress to move court over Punjab govt’s Rs 31,000-cr grain ‘scam’
8 years, 5 months ago

Congress to move court over Punjab govt’s Rs 31,000-cr grain ‘scam’

Hindustan Times  

The Punjab Congress on Thursday rejected the state government’s move to convert alleged misappropriation of Rs 31,000 crore into a loan and said it would approach the court to scuttle the move. Reacting to the admission made by the state government about missing foodgrains to the tune of `31,000 crore, Punjab Congress vice-president and chief spokesperson Sunil Jakhar said: “You …

Punjab will borrow Rs 31,000 cr to settle procurement loan
8 years, 5 months ago

Punjab will borrow Rs 31,000 cr to settle procurement loan

Hindustan Times  

In what amounts to accepting that the central loan for foodgrain procurement was misused, the Parkash Singh Badal government has decided to borrow Rs 31,000 crore from the banks and repay in 20 years to settle the muddle over the mismatch in stock. The Parkash Singh Badal government has decided to borrow Rs 31,000 crore from the banks and repay …

Punjab budget 2016-17: Badal govt rains Rs 3,000-cr poll doles
9 years ago

Punjab budget 2016-17: Badal govt rains Rs 3,000-cr poll doles

Hindustan Times  

Punjab finance minister Parminder Singh Dhindsa gave a major push to the populist agenda of the Akali Dal-BJP government as he announced a string of sops in a please-all budget, clearly with an eye on the assembly elections due early next year. At the epicentre of the Rs 86,387-crore budget proposals of the Parkash Singh Badal-led government are a slew …

Punjab is in deep financial mess, blame it on lack of quality political leadership: Manpreet Badal
9 years, 2 months ago

Punjab is in deep financial mess, blame it on lack of quality political leadership: Manpreet Badal

Firstpost  

Manpreet Singh Badal, the former finance minister in the Parkash Singh Badal’s cabinet in Punjab, has recently been in the news for joining the Congress, following a merger with his own People’s Party of Punjab New Delhi: Manpreet Singh Badal, the former finance minister in the Parkash Singh Badal’s cabinet in Punjab, has recently been in the news for joining …

Government to borrow Rs 3.6 lakh crore in first half of 2015-16-IndiaTV News
10 years ago

Government to borrow Rs 3.6 lakh crore in first half of 2015-16-IndiaTV News

India TV News  

New Delhi: The Union government will borrow Rs 3.6 lakh crore from markets in the first half of the next financial year, which is over 50 per cent of the annual target of Rs 6 lakh crore. The total borrowing in the first six months would be to the tune of Rs 3.6 lakh crore, he added. The net borrowing …

Akalis have pushed Punjab into debt trap: Manish Tewari
11 years, 10 months ago

Akalis have pushed Punjab into debt trap: Manish Tewari

India TV News  

Ludhiana, May 16: Union Minister Manish Tewari today alleged that the Akali-BJP government has pushed Punjab into a debt trap, and ridiculed the state government for describing it as a “productive debt”. “It is a cause of serious concern as the state is dangerously heading towards bankruptcy,” the Congress leader said while addressing public meetings here in support of party …

Govt to borrow additional Rs 20,000 cr to finance fiscal deficit
12 years, 4 months ago

Govt to borrow additional Rs 20,000 cr to finance fiscal deficit

Firstpost  

Faced with rising gap between revenue and expenditure, the government is likely to borrow an additional Rs 20,000 crore towards February-March to finance its fiscal deficit for 2012-13. New Delhi: Faced with rising gap between revenue and expenditure, the government is likely to borrow an additional Rs 20,000 crore towards February-March to finance its fiscal deficit for 2012-13. However, in …

Punjab in a debt trap
14 years, 5 months ago

Punjab in a debt trap

Hindustan Times  

Behind Punjab’s debt-trap, the Congress as well as Shiromani Akali Dal --Bharatiya Janata Party combine have contributed somewhat equally in the past 15 years. HT Image According to Government’s records, the outstanding debt of Punjab in 1993-94 was Rs 10,500-crore and it will increase to Rs 71,510-crore in March 2011. The total debt of Punjab on March 31, 2010 stood …

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