New Delhi: Punjab and Himachal Pradesh are facing severe financial troubles, with both states struggling under massive debts. For the fiscal year 2024-25, Punjab’s debt has reached a staggering Rs 3.74 lakh crores, while Himachal Pradesh is grappling with a debt of Rs 86,589 crores. These enormous financial burdens are placing immense pressure on their budgets and drawing sharp criticism from opposition parties.
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In Punjab, the massive debt has raised serious concerns about the state’s financial management. The opposition blames the state’s freebie schemes for worsening the financial crisis and has criticized the government’s handling of funds.
Similarly, Himachal Pradesh is dealing with significant debt, highlighting issues with its financial strategies. In response, Chief Minister Sukhvinder Singh Sukhu has announced that he and his entire cabinet, including ministers and board members, will defer their salaries and allowances for two months. This decision aims to show leadership and accountability amid the state’s financial difficulties.
Opposition leaders in both states are vocal in their criticism. In Punjab, they argue that freebie schemes have exacerbated the financial crisis. In Himachal Pradesh, critics accuse the government of relying on unsustainable financial practices.
As both states face these critical financial challenges, there is an urgent call for reform in fiscal management to address their economic troubles and ensure future stability.