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Patiala, July 4
During a lecture on “Financial crisis of Punjab: Causes and the way forward” held at Punjabi University on Friday, the state’s financial crisis was discussed from a historical perspective. Prof Sucha Singh Gill, an eminent economist and retired professor of the university, said the state needed a will on the part of political leaders and willingness of residents to pay taxes to get over its fiscal crisis.
Professor Gill said there were multiple reasons behind the ongoing situation and proposed a number of measures which could help resolve the crisis.
He said the culture of freebies must end in the state. Also, “The subsidies must be rationalised, tax compliance must be ensured, and measures should be taken to generate revenue from expanding urban areas,” he pointed out.