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punjab: Rs 1,140-crore ‘trader-friendly’ moves get Punjab cabinet nod | Chandigarh News

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CHANDIGARH: The Punjab cabinet on Wednesday decided to exempt about 1.50 lakh cases from assessment related to traders’ cases of ‘C’ form for inter-state sale of goods for the past years from 2014-15 to 2017-18. About 8,500 remaining such cases would now be assessed under this category every year. This “trader friendly” decision would cost the state exchequer Rs 200 crore.
To further boost trade and economic activity in the state, the cabinet also gave approval to exempt traders from making payment of 70% of the excess demand outstanding against them. They would now only be required to deposit 30% of the surplus demand. This decision would also cost the exchequer Rs 940 crore. Subsequently, traders would now be required to deposit the said amount i.e. 20% of the 30% portion of the additional demand by March 31, 2022, and the remaining 80% by March 31, 2023.
The state government has taken these significant decisions to facilitate traders in the wake of the recent Covid pandemic. Although it has been nearly four and a half years since the end of the VAT regime, there was still a heavy burden of VAT assessment on traders, coupled with difficulties in providing C-forms etc. to them.
OTS POLICY FOR PSIDC, PFC & PAIC:
To revive the industry with a unique opportunity to entrepreneurs of promoted and loanee companies, the cabinet approved One Time Settlement (OTS) Policy-2021 for Punjab State Industrial Development Corporation Ltd (PSIDC), Punjab Financial Corporation (PFC) and Punjab Agro Industries Corporation (PAIC) for settlement of dues. This policy will help to resolve long pending litigation and settlement between the corporations and the private investors besides creating a more business friendly environment in the state.
Gharuan, Rajasansi & Dorangla as sub-tehsils:
In order to provide residents citizen centric services in the vicinity in a seamless manner, the cabinet approved upgradation of Gharuan (SAS Nagar), Rajasansi (Amritsar) and Dorangla (Gurdaspur) as sub-tehsils. Once upgraded, Gharuan would have one kanungo circle, 11 patwar circles and 36 villages, Dorangla will consist of 2 kanungo circles, 16 patwar circles and 94 villages while Rajasansi would have 3 kanungo circles, 18 patwar circles and 44 villages.
Rs 50 lakh For kin of Lakhimpur victims:
The cabinet gave ex-post facto approval for providing financial assistance of Rs 50 lakh each to the families of the four farmers and one journalist, who died in the incident of Lakhimpur Kheri on October 2 from chief minister relief fund. Earlier, on October 7, Punjab chief minister Charanjit Singh Channi had announced the Rs 50 lakh compensation each for the farmers who died after being allegedly hit by a car in Uttar Pradesh’s Lakhimpur Kheri. Channi had accompanied Congress leader Rahul Gandhi to Uttar Pradesh to meet the families of the victims.
Nod to scholarship scheme for students:
Punjab cabinet on Wednesday approved implementation of the Chief Minister Scholarship Scheme for students pursuing higher education in government colleges of the state.
The scheme will help bright, economically weak students, particularly those from general category, besides helping to further improve the gross enrolment ratio (GER) in higher education which is very low at present. The scheme will involve annual financial implication of Rs 36.05 crore. An official spokesperson said the scheme will be applicable only to the students studying in government colleges, scholarship amount will be equal and limited to the concession in terms of percentage in fee being charged by the universities. The scholarship will be given to the students only if they are not paid any other scholarships.
MIN: WILL INCLUDE BIZMEN DEMANDS IN CONG MANIFESTO
Punjab industries and commerce minister Gurkirat Singh on Wednesday assured industrialists to incorporate all their genuine demands in the Congress manifesto for the forthcoming state assembly polls. “We have achieved a lot in the last four-and-a-half years, however, there is much more that needs to be done. I have taken note of the issues and suggestions made by you and assure you that we will make them part of our manifesto,” he added. He was addressing the industry captains at the CII, Chandigarh. The Punjab government recently reached the historic milestone of investments worth Rs 1.02 lakh crore under various stages of implementation, he said. More than 52% of these projects have achieved commercial production, he added.





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