Financial situation of Punjab precarious: Amarinder

Claiming that the financial situation of Punjab was precarious, Congress leader Amarinder Singh today said nobody seems to be concerned and questioned the sincerity of the Chief Minister in doling out liberal grants.
"...This (SAD-BJP) government now seems to have learnt the art of surviving in instalments only," he said, adding "the financial emergency in Punjab does not appear to be too distant anymore".
The Congress Deputy Leader in the Lok Sabha questioned the sincerity of Chief Minister Parkash Singh Badal "in promising and doling out liberal grants in Dhuri Assembly segment in anticipation of the by-elections there when he knew there was no money available with the state."

"I wonder how Badal has promised projects worth over Rs 25 crore when he literally does not have a single penny in the state treasury," the former Chief Minister said in a statement here.
Congress leader Arvind Khanna had resigned as MLA from Dhuri seat in Punjab on January 18 and Chief Minister Badal was on a visit to the Assembly segment yesterday.
Singh said there was a "recurring gap of Rs 600 crore between revenue and expenditure" but "there is no concern or attempt being made to bridge this gap. Coupled with it, is the depleting revenue from VAT and state taxes which is because of lack of much business activity."

Singh, who is Congress MP from Amritsar, warned that the situation was going to be much worse in coming months as there does not appear to be any way out.
"With no fresh investments coming to the state and the existing industry either closing down or moving out of the state, the revenue receipts are likely to deplete further thus pushing the state into further financial mess and an imminent financial emergency," he claimed, adding this government was never serious about the state of economy.