Congress MP Randhawa Sounds Alarm Over Punjab's Rs 1,500 Crore Loan, Warns of Financial Emergency
Senior Congress leader and Gurdaspur MP Sukhjinder Singh Randhawa has raised serious concerns regarding the Rs 1,500 crore loan secured by the Aam Aadmi Party (AAP)-led Punjab government at the commencement of the new financial year 2026-27. This substantial borrowing has intensified fears about the state's escalating fiscal crisis.
Punjab's Debt Balloons to Rs 4 Lakh Crore, Projected to Reach Rs 4.75 Lakh Crore
Randhawa highlighted that with this latest financial infusion, Punjab's total debt has now surpassed the staggering Rs 4 lakh crore mark. He projected that by the end of the current fiscal year, the state's debt burden could swell to approximately Rs 4.75 lakh crore, painting a dire picture of the region's economic health.
The former deputy chief minister of Punjab accused the AAP administration of pushing the state towards a financial emergency, citing a complete halt in development initiatives. He emphasized that the debt load per citizen has skyrocketed to over Rs 1.26 lakh, placing an unsustainable burden on every resident.
Official Data Reveals Rs 1.33 Lakh Crore Debt Surge Under AAP Rule
According to official statistics presented by Randhawa, Punjab's debt has increased by more than Rs 1.33 lakh crore during the tenure of the AAP government. A significant portion of these borrowings is being allocated to service existing liabilities and finance populist schemes such as free electricity and various subsidies.
To fulfil its electoral promise of providing 300 units of free electricity, the state government is disbursing over Rs 20,400 crore annually as a subsidy to the power utility. This massive expenditure is contributing heavily to the mounting debt, raising questions about fiscal prudence.
Farmers in Punjab Become Most Indebted Per Capita in India
Randhawa expressed profound distress over the plight of Punjab's agricultural community, traditionally regarded as the backbone of the nation. He revealed that farmers in the state have now become the most indebted on a per-farmer basis across the entire country, highlighting a severe crisis in the agrarian sector exacerbated by poor financial management.
Allegations of Misplaced Priorities and Political Showmanship
Criticizing the government's allocation of resources, Randhawa alleged that funds are being diverted towards political theatrics rather than essential public welfare programs. He condemned this approach, arguing that it neglects the urgent needs of Punjab's citizens in favor of superficial governance.
The parliamentarian's statements underscore a growing political confrontation over Punjab's economic trajectory, with the Congress party positioning itself as a vigilant opposition against what it perceives as fiscal recklessness by the ruling AAP.
