Budget passed, FM blames UPA for all ílls

Thursday, 26/03/2015

http://epaper.dailypostindia.com/Details.aspx?id=127476&boxid=58410&uid=&dat=2015-03-26

Chandigarh : Even as the Punjab Vidhan Sabha has passed the Punjab Appropriation Bill for which Budget estimates were presented in the Budget for 2015-16, Finance Minister Parminder Singh Dhindsa blamed the “wrong” policies of the previous Congress-led UPA regime at the Centre for the state’s fiscal “illness”.

However, the main Opposition Congress slammed the ruling SAD-BJP government for Punjab’s “poor” fiscal health.

Concluding the general discussion on the Budget, Dhindsa accused the previous government of pursuing “erroneous” policies and alleged that it indulged in several scams that caused slowdown in the nation’s economy and hit the economic growth.

“The whole country went into recession during the last three years because of the UPA government’s policies. Investment flow was hit... Punjab was also affected by the wrong policies,” Dhindsa said. However, he said, the state was following fiscal consolidation path even as there were some ‘slippages’ on fiscal front.

Dhindsa said the state was able to bring down its fiscal and revenue deficit as per the parameters of the FRBM Act.

Replying to the charge of Leader of Opposition Sunil Jakhar who had said Punjab would face loss of revenue despite increase in state’s share in Central taxes, Dhindsa said the state government was expecting additional funds of Rs 2,200 to 2,500 crore

next fiscal because of increase in devolution of taxes to states.

“Due to 10 per cent increase in states’ share in central taxes, Punjab is likely to get funds to the tune of Rs 2,200 to Rs 2500 crore,” he said.

However, he said during the current fiscal, the state would get Rs 700 crore less amount what it had projected for this fiscal as part of devolution of taxes to states. “We had targeted Rs 5,400 crore of funds but we think there is going to be a shortfall of Rs 700 crore in these funds,” he said.

He said the next fiscal, Punjab would get Rs 7,900 crore as share in Central taxes.

Jakhar had earlier claimed that Punjab would get Rs 3,500 crore less amount from the Centre while considering share in taxes and funds under central schemes. Dhindsa, however, rejected the formula adopted by the 14th Finance Commission while working out revenue deficit grants for states.

“We give power subsidy which was not considered by the 14th Finance Commission for giving revenue deficit grant. If some state is giving incentive or state like MP giving bonus and these are considered by the Commission. But why they did not consider our power subsidy. We are against the formula of the Commission as we did not get what we expected,” he said.

On the Opposition charge of withholding the state’s payment as it failed to follow budgetary management, Dhindsa said that no payment was stopped by the Centre.

Dhindsa said the 13th Finance Commission had announced small saving interest relief and Punjab was to get a relief of Rs 703 crore to be given in a span of five years.

“But I am sorry to state that the last UPA Cabinet laid down a condition that states which follow conditions of the FRBM Act, this relief will be given to them only. If this is step-motherly treatment with the state or not,” he asked.

On Rashtriya Krishi Vikas Yojna, Dhindsa said the state government would take up the matter with the Centre pertaining to 50 per cent share to be contributed by the states in this scheme. However, he said that the focus of the budget was on creating infrastructure.

Earlier, participating in the debate, Jakhar accused the state government of facing “credibility” issue for not competing projects what they had promised. He cited examples of Ludhiana Metro project, houses for poor, cycle for girls, among other promises announced by the SAD-BJP regime.

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