India News | TMC's Proposed Cash Transfer Schemes Will Push Meghalaya into Debt Trap: Sangma

Shillong, Jan 19 (PTI) Terming pre-poll cash promises made by parties as "debt traps", Meghalaya Chief Minister and NPP chief Conrad K Sangma on Thursday warned people against "falling prey to such gimmicks".

Hitting out at the opposition TMC, which claimed to have received an overwhelming response to two of their schemes, Sangma said Bengal's debt has only increased over the years due to the TMC's cash transfer schemes.

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He dubbed the 'We Card' (for women) and 'Meghalaya Youth Empowerment (MYE) Card' schemes as TMC's 'baaki' (credit) card, indicating that the party, if elected, may transfer the burden on the state's exchequer.

"They don't realise that such interventions, if done, will drive the state into a debt trap, something that has already happened in West Bengal," the CM said in a statement.

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"Bengal's 'Lakshmir Bhandar' scheme has been rebranded as 'We card'. The TMC government in West Bengal has a per capita debt of around Rs 59,000 in 2022-23, and this scheme is one of the reasons," he said.

According to the chief minister, West Bengal's accumulated debt for 2022-23 is expected to rise to 5.86 lakh crore, up from Rs 5.28 lakh crore as on March 31, 2022.

Terming TMC's promises as "hollow", the NPP chief urged the people Meghalaya to steer clear of such assurances.

"With such steep debts at hand, it is clear that the TMC will also push the state into a debt trap, and leave the people of the state to face the brunt of it," he said.

The TMC had on Wednesday claimed to have received over 3.5 lakh registrations for its 'We card' scheme.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)