Jalandhar: Wrong policies of the state government are affecting Punjab's economy which could soon move towards bankruptcy if expenditure is not controlled, former finance minister of Punjab Manpreet Singh Badal has said.
    
"Wrong policies of the government have put the Punjab on reverse gear. The recent report of the Planning Commission establishes this fact," Badal, who is chief of People's Party of Punjab said.
    
"If fear that if the government is unable to control its expenditure, it would lead the state towards bankruptcy," he added.
    
Badal, who parted ways with the Shiromani Akali Dal-BJP government two years ago, said it is unfortunate that Punjab failed to meet revenue realisation target during the 11th Five year plan while the neighbouring state Haryana collected nearly double of its target.
    
Punjab government's target during the plan was to mobilise about Rs 29,000 crore but it could realise only 87.5 percent of the targetted amount, said Badal, the estranged nephew of Punjab CM Parkash Singh Badal.
    
At the same time, Haryana government could raise Rs 64,192 crore during the period and became number one amomg all states in terms of revenue realisation.
    
Blaming it on bad governance in the state, Badal said, there is no rule of law in the state. Law and order situation in the state has deteriorated resulting in fall in fresh investment.
    
"If there is no fresh investment then the revenue is bound to come down," he added.

(Agencies)

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