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Won’t bail out Punjab on power subsidy: Jaitley Chandigarh, September 4 In a letter to Punjab Chief Minister Parkash Singh Badal, Jaitley has advised the state government to consider routing receipts of its Punjab Infrastructure Development Fund (PIDF) and Rural Development Fund (RDF) through its consolidated fund and rationalize its power subsidy to improve the state’s revenue account. Literally trashing the representation made by the Punjab Government, seeking a special package for financial restructuring of Punjab, Jaitley said that the state had been getting Central assistance under different heads from time to time and said that the state got 99.36 per cent higher Central tax devolution between 2010-15, compared to 2005-2010. Punjab Finance Minister Parminder Singh Dhindsa said he had not seen the letter. "It is Punjab's right to demand a special economic package as the state has been the biggest contributor to the nation's food security. It is injustice as the state has suffered due to terrorism. Punjab's economy has taken a hit due to tax concessions to neighbouring hill states. It is not fair to compare the Central devolution of taxes during the period of the 12th and the 13th Finance Commission as Punjab's share from the total divisible pool has fallen to 1.3 per cent whereas its contribution in the GDP has increased to 2.5 per cent," he said. SAD, being a constituent of National Democratic Alliance (NDA), has been hopeful of getting a special economic package from the Centre after the BJP-led government came to power at the Centre. Going through financial stress over the past couple of years even as the state government continues its doles to the farmers in form of power subsidy, Punjab’s leadership had been finding excuse for the state’s fiscal mess by putting the blame for it on the Congress-led government. However, the letter written by Jaitley to Chief Minister Parkash Singh Badal, a copy of which is with The Tribune, has pointed out the details of the Central assistance received by the state government. “… you may appreciate that the allocation of aggregate plan resources of Punjab has been increasing over the years from Rs 11,520 crore in 2011-12, to Rs 16,125 crore in 2013-14. The Central assistance of Rs 4,606 crore has been provided to Punjab during 2013-14 towards plan and non-plan grants, including agency transfers. Besides, Central taxes amounting to Rs 4,431.47 crore have been devolved to the state during 2013-14…. And additional Central assistance of Rs 887 crore has been approved in March 2014, for addressing water logging problems in the south west districts, of which Rs 100 crore has already been released,” reads the letter. Regarding the demand raised by the state government, seeking a waiver of its huge public debt, Jaitley has said that Central loans amounting to Rs 370.70 crore were waived from 2005-06 to 2007-08, while loans worth Rs 35.69 crore for Central sponsored schemes outstanding as on January 31, 2010, had been written off. Central assistance
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Union Finance MInister said the state had been getting Central assistance under different heads from time to time
It's Punjab's right to demand a special economic package as the state has been the biggest contributor to the nation's food security. It is injustice as the state has suffered due to terrorism. Punjab's economy has taken a hit due to tax concessions to the neighbouring hill
states.