The Congress also took a dig at the state government for not being able to get a financial package from the BJP-led NDA dispensation at the Centre to bail out Punjab from "financial woes".
Initiating a discussion on the budget in the legislative assembly, Congress member Lal Singh described the budget as "bogus and fraud".
"We reject the budget. It is bogus and fraud," he said.
The debt level of the state during eight years of the SAD-BJP regime had shot up alarmingly by about Rs 61,800 crore to Rs 1,13,053 crore for 2014-15, he said adding the state was "stuck in a debt trap".
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