The Punjab government has demanded an increase in the loan limit from the central government. The state government has demanded an increase of Rs 10,000 crore from the centre. For this, the Finance Ministry has also written a letter to the centre. In which it is written that the government wants to meet its expenses by taking more loans. The loan limit of Punjab in this financial year is Rs 30,464 crore. Out of which, the Punjab government has taken a loan of Rs 13,094 crore from the centre in July. Apart from this, the government needs another loan limit of Rs 10,000 crore in the financial year.
This was the loan limit in the year 2023-24
In the last financial year, the loan limit of the state government was Rs 45,730 crore. In which the central government had cut 2387 crores. After which the state government has written a letter to the Center and demanded to increase the loan.
The loan is inherited
The state government has written a letter to the Centre saying that it has inherited the debt of the previous governments. To repay it, the state government needs more loans. Because the Punjab government has to repay a loan of Rs 69,867 crore. Out of which Rs 23,900 crore is only the loan and interest repayment.
It is trying to overcome the economic crisis
To overcome the economic crisis, the Punjab government has started ending the electricity subsidy of Rs 3 per 7 kilowatt, increasing oil prices and imposing green tax. This will increase the income in the government treasury. The government has to pay salaries to the employees on time.