Overview

• The Punjab government will raise Rs 8,500 crore between July and September, drawing Rs 2,000 crore in July, Rs 3,000 crore in August and Rs 3,500 crore in September.
• Reserve Bank of India approval for the Q2 borrowing will lift the state’s total fiscal-year market borrowings to about Rs 14,742 crore by end-September.
• Opposition leader Partap Singh Bajwa warns that steep debt accumulation is pushing Punjab toward financial distress after its borrowings climbed from Rs 281,773 crore in 2022 and are projected to reach Rs 400,000 crore by March 2026.
• Finance Minister Harpal Singh Cheema points to record GST growth of 44.44% in June and 27.01% in the first quarter as evidence of stronger revenue mobilisation.
• Punjab’s debt-to-GSDP ratio exceeds 44%, the second highest nationally, and the state reported a Rs 5,513.65 crore revenue deficit in April–May against receipts of Rs 12,903.04 crore.