Chandigarh March 22:
Former Punjab Finance Minister Manpreet Singh Badal not only questioned the authenticity of certain claims made in the State Budget, but also ruled out the possibility of going back to the SAD or joining the Congress, announcing that his new political outfit to be declared on March 27.
Talking to the media persons here, Manpreet said that he would announce his party at a rally on March 27 at Khatkar Kalan, the birth place of Shaheed Bhagat Singh. He also cleared that he would not resign from the Sate Assembly as an MLA.
Regarding the Budget, he alleged that certain figures were fudged. Referring to the revenue deficit of `3,378.99 crore as mentioned by Punjab Finance Minister Upinderjit Kaur, Manpreet claimed that the “actual revenue deficit should be something around `5,000 crore”.
Manpreet pointed out two inconsistencies—the expenditure outlay provided for electricity subsidy and expected income from the stamp duty. “This is something out of my understanding. The electricity subsidy was `3,493 crore according to last year’s revised estimate which has been pegged down to `3,020 crore,” he added.
“The 14 per cent declines have no effect where the overall inflation is concerned. Even if we take a conservative opinion on the cost of power generation elsewhere, the electricity subsidy should have gone up by around 15 per cent plus to reach around `4,200 crore,” he added.
“The Budget projects the stamp duty collection to go up from `2,500 crore to `2,900 crore. It is highly improbable to have `400-crore increase and that too at a time when stamp duty rate has come down from four to three per cent,” he said.
Former Punjab Finance Minister Manpreet Singh Badal not only questioned the authenticity of certain claims made in the State Budget, but also ruled out the possibility of going back to the SAD or joining the Congress, announcing that his new political outfit to be declared on March 27.
Talking to the media persons here, Manpreet said that he would announce his party at a rally on March 27 at Khatkar Kalan, the birth place of Shaheed Bhagat Singh. He also cleared that he would not resign from the Sate Assembly as an MLA.
Regarding the Budget, he alleged that certain figures were fudged. Referring to the revenue deficit of `3,378.99 crore as mentioned by Punjab Finance Minister Upinderjit Kaur, Manpreet claimed that the “actual revenue deficit should be something around `5,000 crore”.
Manpreet pointed out two inconsistencies—the expenditure outlay provided for electricity subsidy and expected income from the stamp duty. “This is something out of my understanding. The electricity subsidy was `3,493 crore according to last year’s revised estimate which has been pegged down to `3,020 crore,” he added.
“The 14 per cent declines have no effect where the overall inflation is concerned. Even if we take a conservative opinion on the cost of power generation elsewhere, the electricity subsidy should have gone up by around 15 per cent plus to reach around `4,200 crore,” he added.
“The Budget projects the stamp duty collection to go up from `2,500 crore to `2,900 crore. It is highly improbable to have `400-crore increase and that too at a time when stamp duty rate has come down from four to three per cent,” he said.
