NRIs devided on Debt waiver on Rs 71,000 crore) of Punjab with certain preconditions

Toronto, Oct. 12, 2010
Shingara Singh

:From our New Delhi news sources, Punjab Finance Minister Manpreet Badal was in New Delhi yesterday, to meet Union Finance Minister Pranab Mukherjee on the reported debt waiver proposal-- to absorb half (Rs 35,000 crore) of the total accumulated debt (Rs 71,000 crore) of Punjab with certain preconditions.

The proposal of Union Finance Minister Pranab Mukherjee is to absorb half (Rs 35,000 crore) of the total accumulated debt (Rs 71,000 crore) of Punjab with certain preconditions

S C Aggarwal, Punjab Chief Secretary said that the state government had not received any written offer from the Centre waiving Rs 35,000 crore of the state's debt with certain conditions, including reducing subsidies on power to agriculture sector and levying user charges in some service areas.

Badal Group says:

• The Centre to consider the plight of Punjab on the grounds of a decade of militancy and being a border state.
• We proposed to the Centre to reschedule the NSFF loan worth Rs 21000 crore for 30 years. Money on account of dues of Food Corporation of India (FCI) worth Rs 6000 crore and some other loans by the Centre can be absorbed as per the recommendations.
• Sukhbir Badal said that reforms cannot take place without sound financial health. He reiterated that as a cabinet minister he was answerable to the Chief Minister and not to the entire legislature.

Most of the SAD leaders are showing support Sukhbir Manpreet Badal is isolated and waiting any time signal to quit from Chief Minister Parkash Singh Badal.

Manpreet Badal, Finance Minister would release all the documents relating to the debt waiver to the media on Wednesday
BJP leader Manoranjan Kalia said: Manpreet is making false statement and misrepresenting facts. His statement is false and incorrect",

Yesterday, there was about three hour meeting under the chairmanship of Ranjit Singh Brahmpura, cabinet minister, but failed to arrive at any conclusion Manpreet’s central loan waiver issues.

NRIs don't want to see this delay. NRIs devided on free electricity (tubewell water) to farmers. Everybodyy has different opinion but at the end there is no investment coming to Punjab. THIS IS VERY UNFORTUNATE FOR MY PUNJAB

Manpreet Badal