Khangura: Manpreet Badal’s utterances are proof of a fiscal emergency - 07/10/2010

Qila Raipur MLA Jassi Khangura today suggested that the Punjab government must not dismiss Finance Minister Manpreet Badal’s concern about the state economy summarily, but should address these concerns seriously. He also condemned the politics being played within the Shiromani Akali Dal on the issue that seems to be hell bent on marginalising Manpreet within the party and pronouncing him as a pariah. He told the Chief Minister not to take it as a sibling rivalry but a serious issue confronting Punjab.

In a statement issued today, Khangura wondered whether anybody in the government or the SAD really understood the issues raised by the FM. He said, “whilst the leadership of the ruling alliance appears to have dismissed Manpreet Badal’s recent utterances, few, if any, in the Punjab Cabinet truly understand the issue”.

He observed, the Chief Minister and Deputy Chief Minister no doubt understand the political implications but whether they truly appreciate the nuances of Punjab Government finances is open to debate.

Regretting that the current Punjab leadership wishes to permanently live in denial, Khangura said, Manpreet Badal deserves support for at least opening the matter for public debate. “Whilst father and son wish to bury the issue with their usual undue haste, the gravity of the matter means that it will simply not go away”, he warned.

“Punjab legislators have a constitutional right to be fully briefed on the fiscal interactions with the centre, something that the incumbent government is simply not willing to consider”, the MLA pointed out, while adding, this is tragic for Punjab and represents a colossal lack of judgement by both father and son.

Expressing serious concern over the state of Punjab economy, Khangura said, every borrowing entity, individuals, companies and governments, has a borrowing limit. It is clear that Punjab is close to that point. “Hence, the current fiscal emergency”, he warned, while adding, “had this government created a suitable environment for robust economic growth, stronger revenues would have allowed the government more flexibility. Instead, it is caught in a vicious cycle of borrowing more funds simply to pay interest on earlier loans”.

The Congress legislator remarked, the state is financially bankrupt; the ruling father and son duo are both devoid of fiscal remedies. “Manpreet Badal deserves credit for rising above petty politics to reveal to the people the financial abyss that we are facing”, he said.

Khangura maintained that the issue of state subsidies was a mere Rs 5000 crore matter, while the real tragedy is that in spite of an inherently industrious and entrepreneurial culture and with some 5 million NRI Punjabis living outside of the country, Punjab has been unable to generate the resources required to support the poor and underprivileged.

He said, the principal mistake of this government was to cancel the change of land use of 32 megaprojects on assumption of office, overriding the fact that the promoters of all these projects had “met” the current leadership during the poll campaign. “Once so decisively shattered, business confidence never recovered”, he regretted, while adding, “businessmen want respect and policy consistency; in Sukhbir Badal’s Punjab neither is available”.