On Monday, launching the Aam Aadmi Party’s ‘Mission Punjab’ for the 2022 Assembly polls, country wide convener Arvind Kejriwal announced that if voted to energy, AAP will switch Rs 1,000 per month to the account of every lady in Punjab elderly 18 or above. Kejriwal’s announcement in Moga, freebies promised by using different events, and subsidies and populist schemes from successive governments are available a kingdom that is reeling below debt.
As in line with the Election Commission of India, there had been ninety six.19 lakh ladies electorate in Punjab throughout the 2019 Lok Sabha polls. The electorate listing for 2022 is not but out; AAP has anticipated that the scheme ought to advantage 1 crore ladies. If AAP does shape the government and implements the promise, then paying Rs 1,000 crore in line with month to an expected 1 crore ladies could translate into Rs 12,000 crore in keeping with 12 months.
Kejriwal noted that his warring parties might ask wherein the money to fund the programme would come from. He stated “there's no dearth of money with any authorities, all that’s required is aim to work for people”.
When the Congress authorities took over in March 2017, it inherited a debt of Rs 1.82 lakh crore from the SAD-BJP authorities that had ruled for 10 years. The price range estimates for 2021-22 challenge the exquisite debt to upward push to almost Rs 2.Eighty two lakh crore. This efficiently becomes Rs 2.73 lakh crore after accounting for Rs eight,359 crore acquired as back-to-again loans in lieu of GST repayment all through 2020-21.
In 2019-20, the extraordinary had reached Rs 2.29 lakh crore. In the 2020-21 price range estimates, it changed into projected to attain Rs 2.Forty eight lakh crore, which rose to Rs 2.61 lakh crore inside the revised estimates (effective Rs 2.Fifty two lakh crore).
The powerful awesome debt in 2019-20 become 39.90 percentage of the Gross State Domestic Product (GDSP) of Rs 5.Seventy four lakh crore. For 2021-22, it's miles forty five% of the projected GSDP of Rs 6.07 lakh crore.
Punjab’s overall receipts are envisioned at Rs 1.Sixty two lakh crore inside the modern-day financial, from Rs 1.32 lakh crore in 2019-20. The total expenditure is estimated at Rs 1.Sixty eight lakh crore by using the end of this fiscal, from Rs 1.34 lakh crore in 2019-20. An amount of Rs 38,000 crore, which incorporates Rs 20,000 crore as hobby fee and Rs 18,000 crore as reimbursement of debt except Ways and Means Advances, is predicted to be spent on general debt servicing within the price range estimates of the modern monetary. The corresponding figure changed into Rs 30,000 crore in 2019-20.
In the budget estimates for 2021-22, attributable to power subsidy given to the farmers, numerous classes of industries and members of the Dalit community, the authorities’s dues to the Punjab State Power Corporation Limited (PSPCL) turned into projected to attain Rs 10,621 crore, up from Rs nine,394 crore in 2019-20.
With Chief Minister Charanjit Singh Channi having introduced a minimize in strength costs for domestic clients in advance this month through Rs three across 3 slabs with hundreds up to 7 KW, there's going to be an extra burden of extra than Rs 3,300 crore at the exchequer.
Earlier this month, Channi additionally announced VAT discount of Rs 10 on petrol and Rs five on diesel, that is probably to price the exchequer almost Rs three,three hundred crore consistent with 12 months, similarly to the once a year fee of Rs 850 crore due to discount of excise duty by using the Centre.
Also, a number of the “most important new initiatives” in “Punjab finances at a look 2021-22” include unfastened strength to farmers at a fee of Rs 7,a hundred and forty crore, doubling the month-to-month social protection pension from Rs 750 per month to Rs 1,500 according to month with effect from July 1 at a value of Rs 4,000 crore, and the ‘Har Ghar Paani, Har Ghar Safai’ scheme with an outlay of Rs 2,148 crore.