Chandigarh, April 29
Former President of the District Congress Committee, Ludhiana (Urban) and Ex-Chairman of the Punjab Large Industrial Development Board, Pawan Dewan has launched a fierce attack on the AAP government, accusing it of driving Punjab into a vicious debt trap. Expressing concerns over the dwindling economy, Dewan said, “Before coming to power, Chief Minister Bhagwant Mann had promised to make the state ‘Rangla Punjab’. But unfortunately, in the past four years, they have done the opposite – reducing the state to Kangla Punjab”.
At the end of fiscal year 2021‑22, when the Congress government’s tenure concluded, Punjab’s outstanding debt stood at approximately ₹2.82 lakh crore. However, due to ill-conceived policies, mismanagement and wasteful expenditure, the debt has spiraled further. By the close of fiscal year 2025‑26, the state’s total outstanding debt is projected to touch nearly ₹4.17 lakh crore,” said Dewan in a statement issued here today.
Terming the Mann government a “bunch of liars,” Dewan said its claims of Punjab’s economy being in the pink of health are utterly false. “In reality, the state’s economy is in doldrums. This year, the government’s net borrowing is estimated at ₹39,970.65 crore, which will push Punjab’s outstanding debt to ₹4.47 lakh crore by the end of fiscal year 2026‑27. Moreover, in the first quarter of this fiscal, the government plans to raise ₹9,500 crore through market borrowing,” he added.
Quoting figures, Dewan said that in the very first week of April, the AAP government raised a loan of ₹1,500 crore, followed by another ₹1,300 crore in the third week. “The entire government is running on loans. The state coffers are empty. This regime has inflicted irreversible damage on Punjab’s economy. In reality, it has no vision to generate revenue or create resources to pull the state out of the red. Instead, it remains entrenched in a vicious debt trap,” he charged.
Continuing his tirade against the AAP government, Dewan said that apart from heavy borrowing, the AAP government has also been selling off state‑owned properties and panchayat lands to manage its finances. “Several auctions have already been initiated under the “Optimum Use of Vacant Government Land (OUVGL) scheme”, he pointed out.
Asserting that the AAP government has no roadmap to make Punjab debt‑free, Dewan said, “The people of Punjab had high hopes but the AAP regime has miserably failed to bail the state out of its burgeoning debt or revive the dwindling economy.” He pointed out that Punjab remains one of the most indebted states in the country and accused the present dispensation of putting the economy in reverse gear. Dewan added, “At times, the government even struggles to pay salaries on time. Yet, despite the economy bleeding, the AAP dispensation squanders crores on advertisements and hoardings to publicize its fake achievements.”
