Former Punjab chief minister Amarinder Singh has sent an SOS message to Prime Minister Manmohan Singh seeking instructions to banking institutions on undertaking strict scrutiny before advancing any more loans to any public enterprise under the Shiromani Akali Dal-Bharatiya Janata Party government.
Describing the fiscal situation as “precarious,” Capt. Singh has said, “Public enterprises are being used as a window to raise loans from banks and financial institutions for even meeting the day to day expenditure of the state government as its revenues fall short of all the committed expenditure on salaries, pension and interest repayment on loans.”
Capt. Singh claimed the SAD-BJP government’s borrowings are in complete defiance of the 13th Finance Commission’s recommendations and bypass both the legislature and the audit jurisdiction of the Comptroller and Auditor General of India.
Capt. Singh alleged that the loans money are being arbitrarily diverted and set to “eat away” a substantial portion of Punjab’s future revenues.
***
Manpreet ringtone to inspire voters
age correspondent
CHANDIGARH
Jan. 19: Punjab’s rebel former finance minister Manpreet Badal, who has been giving his chief minister uncle and deputy CM cousin in the ruling Shiromani Akali Dal many sleepless nights, on Wednesday launched a mobile ring tone to inspire the fast swelling ranks of his followers.
Manpreet Badal’s ring tone is a clever remix of mera rang de basanti chola from yesteryears actor-director Manoj Kumar’s film Shaheed which has inspired generations of young Indians through its depiction of Shaheed Bhagat Singh.