State President of Bharatiya Janata Party (BJP) in Punjab, Kewal Singh Dhillon, expressed concerns about the financial crisis in Punjab under the leadership of the Aam Aadmi Party (AAP) government. Dhillon highlighted the government’s continuous borrowing practices, leading to what he termed as a transformation from a vision of a “prosperous Punjab” to a “bankrupt Punjab.”
Dhillon pointed out discrepancies in the financial claims made by Finance Minister Harpal Singh Cheema, citing the government’s recent move to raise an additional Rs 1,000 crore as evidence. Despite assertions of robust revenue growth, the government’s increasing reliance on borrowing paints a different picture, according to the Punjab BJP chief.
The borrowing trend under the AAP government raised concerns for Dhillon, with borrowings of approximately Rs 24,000 crore in 2022-23, nearly Rs 28,000 crore in 2023-24, and Rs 34,201 crore in 2024-25. By January 2025, the government had already borrowed over Rs 20,770 crore, with plans for total borrowings of Rs 49,900 crore for the year, further exacerbating Punjab’s outstanding debt.
Dhillon questioned the necessity for continuous borrowing despite reported revenue growth over the past four years, emphasizing the burden it places on future generations and the state’s economy. He called for transparency from the Chief Minister and Finance Minister in presenting Punjab’s true fiscal position and developing a credible plan to reduce debt without relying on repeated loans.
