Bhopal:

Lower than two weeks after he took oath, Madhya Pradesh Chief Minister Mohan Yadav has sought a Rs 2,000 crore mortgage from Reserve Financial institution of India (RBI) to fulfill the state’s expenditures.

That is the newest indication of the state authorities’s poor monetary well being and rising debt mountain because the ruling BJP embarks on the robust job of fulfilling its guarantees within the run-up to the not too long ago held Meeting polls. Mr Yadav inherited a debt burden of almost 4 lakh crore when he took over from former Chief Minister Shivraj Singh Chouhan.

Mr Chouhan’s welfare schemes comparable to Ladli Behna had been credited with serving to the BJP sweep what was predicted to be a detailed contest. But it surely got here at a excessive price. The Shivraj Singh Chouhan authorities borrowed Rs 44,000 crore in 2023 alone, together with a Rs 5,000 crore whereas the ballot code was in pressure. Now, with the brand new authorities in place, the state authorities’s coffers are empty because it stares at a protracted listing of guarantees.

Mr Yadav has, nonetheless, assured within the Meeting that there’s “no disaster” and no welfare scheme will cease attributable to lack of funds. “Some have raised points, saying schemes will cease. That is an pointless concern. No scheme, together with Ladli Laxmi Yojana, might be discontinued,” he mentioned.

Mr Yadav added that the BJP manifesto was like Ramayana and Gita and guaranteed that each one schemes of the earlier authorities will proceed.

The Opposition Congress isn’t satisfied. Social gathering spokesperson Abbas Hafeez mentioned each citizen of Madhya Pradesh is in debt. “Each child born in Madhya Pradesh is now in a Rs 40,000 debt. The BJP is repeatedly pushing Madhya Pradesh in direction of chapter. When will they perceive?”

Mr Hafeez mentioned if the Congress got here to energy and shaped a authorities, it could have tried to search out new sources of producing income.

Deputy Chief Minister Jagdish Devda hit again, saying the Congress ought to “introspect” on its crushing defeat as a substitute of focusing on the federal government over its debt. “We have to borrow. If wanted, we are going to borrow for growth works like highway building, irrigation tasks.”

Mr Devda alleged that the earlier Congress governments within the state took loans too, however didn’t use them for growth. As an alternative, they swindled the funds, he alleged.