The Annual Plan of Punjab for 2005-06 has been fixed at Rs 3,550 crore. This was a decided at a meeting here between Chief Minister Capt Amarinder Singh and Deputy Chairperson of Planning Commission Montek Singh Ahluwalia.Capt Singh said the fiscal reforms initiated by the state government need to be viewed in the context of almost "a dismal financial position inherited by the present government.'"Neglecting developmental needs of the state for the sake of fiscal consolidation is bound to be unsustainable. As a matter of fact the entire revenues of the state are pre-empted by committed expenditure on salaries, pensions and debt servicing. Whatever little has been invested in development is by raising more loans, which has pushed the state government into a virtual debt trap,' Capt Singh said.