5 days Ago
Bhopal (Madhya Pradesh): On the second day of the winter session of the Madhya Pradesh Legislative Assembly on Tuesday, the Opposition Congress cornered the ruling Bharatiya Janata Party (BJP) over the mounting state debt, which has crossed Rs 4 lakh crore. Congress legislators arrived at the Assembly premises carrying posters highlighting the loan amounts borrowed from the Reserve Bank of India (RBI). In a symbolic protest, they also held begging bowls to signify the state's precarious financial condition.
Bhopal, Madhya Pradesh: Congress MLA Umang Singhar says, "In the last two months, the government has taken a loan of 7.5 lakh crores, and from 2021 to 2024, the government has borrowed 1.22 lakh crores.
The government is taking money at such a fast pace, but there is no...
pic.twitter.com/v1HutS8P9W The Opposition alleged that the BJP government's "flawed policies" have pushed Madhya Pradesh towards financial distress.
They claimed that the ballooning debt burden translates to every citizen of the state being saddled with a debt of Rs 55,000. "Over the past two months alone, the BJP government in MP has borrowed Rs 7,500 crore. Between 2021 and 2024, the state government secured loans amounting to Rs 1.
22 lakh crore from the RBI," Congress legislators asserted. Leader of the Opposition Umang Singhar demanded that Chief Minister Mohan Yadav's government present a white paper in the Assembly, detailing the loan amounts borrowed and their utilization. Bhopal, Madhya Pradesh: Congress MLA Sachin Yadav says, ".
..The government is continuously taking loans, so far, it has borrowed 3.
85 lakh crore, which amounts to 55,000 per person. The people of Madhya Pradesh are burdened with this debt..
.The situation is such that the..
. pic.twitter.
com/yqjODnZpQc "The BJP government is taking loans every three months, yet there's no visible improvement in the state's infrastructure. The government must clarify where this borrowed money is being spent," Singhar said. He further alleged that a significant portion of the loans is being spent on the BJP government's publicity campaigns.
"We will raise this issue in the House and urge the Speaker to direct the government to furnish a detailed report on the loan expenditures of the past year," Singhar told IANS. According to reports, the state has inherited a cumulative debt of over Rs 4 lakh crore, with Rs 7,500 crore borrowed in just the last two months. The BJP has been in power in Madhya Pradesh since 2003, barring an 18-month period when Congress held the reins.
Notably, the winter session of the Assembly began on Monday with massive protests by the Opposition over fertilizer shortages, forcing the Speaker to adjourn the House within two hours..
