Delivering mortgage to spend straight back financing, Punjab lead having debt pitfall: CAG
Launching the newest reports of the comptroller and auditor-general (CAG) for 2014-15, dominant accountant standard Jagbans Singh said Punjab’s money costs (non-productive) is actually on the rise given that financing expense (productive) got gradually rejected. (Karun Sharma/HT Photos)

Regardless of the high claims made by this new Sad-BJP regulators, the main accountant standard demonstrated an enthusiastic abysmal picture of Punjab funds if you’re giving a loud and obvious alerting – the official try headed for a major loans trap once the half of the monetary accountability of whopping Rs step one.12-lakh crore must be reduced within the next eight decades.

Introducing about three of one’s five records of one’s comptroller and you will auditor general (CAG) having 2014-15, dominating accountant general Jagbans Singh told you Punjab’s funds costs (non-productive) was rising since the resource expense (productive) had gradually denied. He told you a large part of the expense was complete for the repayment and you can repair new large finance, leaving almost no money for the condition to invest on creativity activities.

Aside from the state of the profit, the newest reports create with the Friday plus discussed numerous instances of misappropriation of loans value crores away from rupees, along with reflecting the fresh new faltering financial fitness of your own personal field equipment.Continue reading