Punjab CM Amarinder Singh blames previous government for slowdown in economy

Amarinder Singh, Chief Minister of Punjab has blamed former Akali-BJP led government for the poor economy and financial condition of the state. He said that after the ruining the economy of the state, they (Akali-BJP) are now shedding crocodile tears over the crisis.

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He said that Shiromani Akali Dal’s (SAD) demand for Finance minister  Manpreet Badal’s resignation over the fiscal situation was ‘ridiculous’.
He told agencies,” For 10 years, the Akalis messed with the state economy for their vested interests. The SAD-BJP regime ruined that with their ill-conceived and anti-people policies. The state coffer was sapped during their decade-long misrule. They didn’t take any step to boost the economy.”

He stated that negative policies of the previous government forced the businesses and industry to flee from Punjab and also crushed sentiments of the investors.
“Just months before the 2017 Assembly polls, the SAD-BJP government added a Rs 31,000 crore loan burden on account of grain procurement for the central pool which aggravated the fiscal crisis,” he told agencies.

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He said that the current government is putting efforts in revival of the state’s economy by reinstating confidence of industry and investors. He mentioned that the government was to invest  Rs 50,000 crores on the ground under the new industrial policy which would promote ease of business status of the state.
He told agencies,” Unfortunately, the central government’s failure to manage the GST revenue and payout the state’s share in time was obstructing his government’s efforts to revive the economy.”

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Bad Financial condition of Punjab

The revenue generation of Punjab state has dipped down by 5 per cent and backlogs of bills amounting Rs 5000 crores is yet to pay. At present, Punjab Government doesn’t have money to carry on the welfare schemes in the state. Opposition SAD-BJP blamed the current government for the mess created due to widespread corruption and leakage of resources in the state.
Akali Dal demanded the resignation of Chief Minister Captain Amrinder Singh and Finance Minister  Manpreet Badal in the wake of the economic crisis of the state.

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