Cong seeks Guv's help to improve Punjab fiscal

Punjab Congress on Tuesday appealed to Governor Shivraj Patil to initiate an inquiry into the state’s burgeoning debt and direct the SAD-BJP government to observe fiscal propriety.

In a letter written to the Governor, CLP leader Sunil Jakhar said Punjab had been facing “deteriorating” fiscal condition under the SAD-BJP regime.

As per mandate of the Punjab Revenue Fiscal Responsibility and Budget Management Bill, he said, the revenue deficit as percentage of gross state domestic product in the year 2012-13 should be below 1.2 per cent.

“But in gross violation of norms, the revenue deficit has reached 1.61 per cent of the GSDP,” he said.

Jakhar accused the government of pursuing wrong economic policies that led to accumulation of loans of Rs 38,019 crore.