Budget: Cheema refutes objections and promises to reduce borrowing | Chandigarh News

Chandigarh: Punjab Finance Minister Harpal Singh Cheema on Wednesday refuted opposition objections to the budget while promising his government would take out loans well below the prescribed borrowing limit.
Referring to the CCL limit of Rs 31,000 crore from previous governments, he said that between 2007 and 2017, previous schemes failed to pay Rs 12,000 crore as principal amount and Rs 19,000 crore was unreturned interest In the center. For the next 20 years, every month an additional Rs 270 crore will have to be paid to the Centre. “It affected the farmers because it was their product. Those who sought the votes of farmers and later stabbed them in the back. Rs 58,000 crore will have to be paid in the coming years,” he said.
SAD MLA Manpreet Singh Ayali said it was the SAD that waived tubewell bills in 1997. However, Cheema said that on the one hand farmers have been given an electricity bill waiver and on the other hand Rs 270 crore will have to be paid by the government for a period of 20 years. Rs 3,240 crore will have to be returned this year. Cheema said Rs 55,000 crore was the borrowing limit but the AAP government will only accept a loan of Rs 35,000 crore this time. After taking over, the AAP government took up the matter with the Center and an interest of 8.25% was paid by the Punjab government, he said. Now it has been reduced to 7.35% and that will mean a benefit of Rs 3,000 crore for the state, he added. We used to talk about per capita income, but when you compare it to other states, Punjab was number one at one time. Telangana’s per capita increase is 10.76%, Haryana has an increase of 7.4%, Himachal an increase of 6.23% but Punjab 5.45%; he is in 11th position. The Congress MPs also claimed that the previous government had never been overdrawn, but in 2017-18 almost 100 days the government was overdrawn, in 2019-20 for 47 days, but not in the last two years .

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