"Debt, deficit and deceit", hallmarks of the budget: Amarinder

Punjab Congress president Amarinder Singh today dubbed the Punjab budget as "most hopeless and disappointing" which has actually exposed the "financial and economic bankruptcy" of the state under Akali-BJP government.
"Debt, deficit and deceit are the hallmarks of this budget", Amarinder said in a statement issued here.
He claimed that the state does not have any funds to finance the populist schemes announced in the budget with an eye on the elections.
"Rather they cannot even meet their routine expenses, what to speak of providing populist sops", he added, while referring to the Rs 1,200 crores populist schemes in budget.

Referring to the estimated debt of Rs 1.38 lakh crore, the former Chief Minister claimed, viewed in the backdrop of revelations made by the Principal Accountant General, Punjab, the state was fast walking into a debt trap, it will find difficult to come out from.
The Punjab Congress president took a jibe at the government for "incentivising the farmers' suicides by keeping a provision of Rs 10 crores for those farmers who (will) commit suicide".

Besides, he added, there was "nothing" in the budget to offer any hope to the industrial sector which is reeling under severe crisis with the result industry was moving out of the state.

Meanwhile, industry body Confederation of Indian Industry (CII) welcomed the "growth-oriented and balanced" Punjab State Budget 2016-17.
"The allocation of Rs 223 crore for the industry with Rs 100 crore for start-ups and Rs 10 crore for the construction of the working women hostels is an encouragement for all industrial players in Punjab.
However, we would request the government to extend the facility to all working groups irrespective of gender which would enable all citizens of the state to maintain healthy living conditions. This will also be in line with PM's Swach Bharat Mission," said Sandeep Jain, Chairman, CII Punjab State Council and Executive Director, Monte Carlo Fashions Ltd.

"Setting up an Industrial manufacturing cluster in 200 acres in Rajpura, development of two Mega Food Parks near Ludhiana and Phagwara and a High Tech Cycle Valley in Ludhiana will not only boost local industries but will also bring in new investments in the state, said Gurmeet Singh Bhatia, Vice-Chairman, Punjab State Council and Managing Director, Ajooni Biotech.