While Sharing the plight of State, CM Punjab Presented the White paper and expressed his concern over the tight grip of debt over the State today in Vidhan Sabha. As per the Financial Department reports at the end of 2016-17, the outstanding debt was Rs. 148832 Crore. This debt has increased and State’s Financial Stature is in fix. As per the reports the debt is even more than the quoted if other expenses are seen, which comes out to be Rs 208060.96 Crore and which likely to be increased in 2017-18 by Rs 3240 Crore.
In reality however, it is far higher, if deferred liabilities, contingent liabilities and newly acquired liabilities on account of gap in accounts and UDAY bonds are reckoned.The Punjab State which was known to be the richest state once, now is in tight grip of financial crunches.