Governor Raises Questions on Loan Discrepancies & Expenditure in Punjab
Punjab Governor Banwarilal Purohit has written a letter to CM Mann, seeking clarifications regarding financial discrepancies, excess loans
CHANDIGARH: In a recent correspondence with Chief Minister Bhagwant Mann, Punjab Governor Banwarilal Purohit has raised several crucial questions regarding the financial management of the state. The Governor expressed concerns over discrepancies between the figures presented by the Chief Minister's office and the Comptroller and Auditor General (CAG) of India.
One of the primary concerns raised by the Governor is the significant disparity in the loan amounts reportedly taken by the state government. The Governor pointed out that the state had taken a loan of Rs 33,886 crore until the fiscal year 2022-23, while only Rs 23,885 crore was approved by the assembly. He stressed the importance of transparency, urging the Chief Minister to provide a detailed account of the utilization of the additional 10,000 crores.
Governor Purohit also questioned the deviation of capital expenditure funds from their intended purpose. He noted that Rs 1500 crore less than the approved capital expenditure in the budget had been spent, underscoring the need for adherence to budgetary allocations.
Highlighting the necessity of financial prudence, the Governor stressed that loans should primarily be directed towards building capital assets rather than funding free schemes. He emphasized that while welfare schemes are essential to fulfill social responsibilities, they must be run under financial discipline and with adequate resource mobilization.
Without directly naming specific schemes, the Governor pointed to concerns about the utilization of subsidies, particularly in the context of providing free electricity. He urged a more targeted approach, focusing on aiding the weaker sections of society and ensuring that loans are managed judiciously to prevent burdening future generations.
Governor Purohit emphasized the urgency of cautious spending and responsible financial practices, urging the government to focus on efficient utilization of loans and resources. He emphasized the need to curtail tax evasion, mobilize additional resources, and reduce unnecessary expenditure to ensure a financially sustainable future for Punjab.