Punjab to borrow more as debt burden mounts
1 month, 2 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 & Sind Bank plans to raise ₹3,000 cr from maiden infrastructure bonds this month
1 week, 4 days 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
3 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
9 months, 2 weeks 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 …

Himachal’s per capita debt over ₹1 lakh: Govt white paper
1 year, 3 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, 6 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
1 year, 11 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, 1 month 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, 1 month 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, 5 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, 8 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 …

Challenges before AAP's government in Punjab: How to create jobs while reducing debt burden
2 years, 9 months 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 polls: What freebies offered by political parties will cost state
3 years 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, 1 month 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?
3 years, 9 months 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, 2 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, 2 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, 2 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 …

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