Punjab Chief Minister Captain Amarinder Singh today sought Prime Minister Narendra Modi's support for encouraging industrial development in the state to revive its economy and create jobs.
At a meeting with the prime minister in New Delhi, Mr Singh also requested the centre's support for resolution of the agrarian crisis in Punjab.
He sought PM Modi's intervention to settle a Rs. 31,000 crore debt, resulting from the cash credit limit legacy gap of Rs. 12,500 crore along with an interest of Rs. 18,000 crore.
At least Rs. 3,240 crore would be needed to be spent every year on debt servicing for the next 20 years at the cost of the welfare schemes of the state, Mr Singh said, urging that the entire matter be relooked at and the burden be proportionately shared by all agencies concerned in a fair manner.
He said the gap was due to a difference in actual expenditure and expenditure approved in the cost sheet approved by the centre's Food and Public Distribution Department, and the inability of the state government's agencies to fully repay the cash credit limit.
The Food and Public Distribution Department has repeatedly assured Punjab government of addressing the issue, but there has been no resolution, Mr Singh said.
