Tewari demands white paper on state finances

Expressing concern over the “precarious” financial situation in Punjab,the Union Information and Broadcasting Minister Manish Tewari today demanded a white paper asking the state government to declare whether or not it was heading towards bankruptcy.

“All indicators are pointing towards bankruptcy with the state being forced to take loan to meet the day-to-day expenses and even to pay employees’ salaries pending since July. It was for the first time in the history of Punjab that the state government had to mortgage its property with different banks to get Rs 1000 crore loan so that it could pay the salaries,” Tewari said in a press statement today.

Asserting that the things were fast moving to a point where it looks that nothing less than a financial emergency could save the situation,the minister said,it is high time the state government comes out with a white paper and tells the people as to what plans it has for the economy.