CABINET APPROVES TRADER FRIENDLY DECISIONS WORTH RS. 1140 CRORE

CABINET APPROVES TRADER FRIENDLY DECISIONS WORTH RS. 1140 CRORE

· EXTENDS EXEMPTION IN NEARLY 1.50 LAKH CASES RELATED TO ASSESSMENT OF C-FORMS

· ALSO EXEMPT TRADERS FROM MAKING PAYMENT OF 70% OF EXCESS DEMAND

· NOW ONLY REQUIRED TO DEPOSIT 30% OF SURPLUS DEMAND

Chandigarh, December 1: In a major reprieve to the traders across the state, the Punjab Cabinet on Wednesday decided to exempt about 1.50 lakh cases from assessment related to cases of ‘C’ form for the past years from 2014-15 to 2017-18.

Resultantly, about 8500 such cases would now be assessed under this category every year. This trader friendly decision would cost Rs. 200 crore on the state exchequer.

This decision was taken during the Cabinet meeting chaired by Chief Minister Charanjit Singh Channi here at Punjab Bhawan this afternoon.

To further boost trade and economic activity in the state, the Cabinet also gave approval to exempt the traders from making payment of 70% of the excess demand and now they would be only required to deposit 30% of the surplus demand. This decision would also cost the state exchequer to the tune of Rs. 940 crore. Subsequently, they 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.

Notably, 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 the traders coupled with difficulties in providing C-forms etc. to them.

APPROVES OTS POLICY-2021 FOR SETTLEMENT OF DUES OF PSIDC, PFC & PAIC

In a bid for rehabilitation & revival of the Industries in the state by offering 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 their dues with through this new policy.

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.

GAVE GO AHEAD FOR UP-GRADATION OF GHARUAN, RAJASANSI AND DORANGLA AS SUB-TEHSILS

In order to provide citizen centric services to the residents in the vicinity of their residence in a seamless manner, the Cabinet also approved up-gradation of Gharuan (SAS Nagar), Rajasansi (Amritsar) and Dorangla (Gurdaspur) as Sub-Tehsils. Gharuan would be upgrade as Sub-Tehsil comprising of one Kanugo Circle, 11 Patwar Circles and 36 villages, Dorangla will consist of 2 Kanugo Circles, 16 Patwar circles and 94 villages where as Rajasansi would include 3 Kanugo Circles, 18 Patwar Circles and 44 villages.

GRANTS EX-POST FACTO APPROVAL FOR FINANCIAL ASSISTANCE TO VICTIM FAMILIES IN LAKHIMPUR KHIRI INCIDENT

The Cabinet also gave ex-post facto approval for providing financial assistance of Rs. 50 lakh each to the tune of total Rs. 2 crore already paid by the Punjab Government to the families/legal heirs of the four farmers and one journalist, who died in the unfortunate incident of Lakhimpur Khiri (Uttar Pradesh) on October 2, 2021 from Chief Minister Relief Fund.

CABINET APPROVES IMPLEMENTATION OF CHIEF MINISTER SCHOLARSHIP SCHEME FOR GOVERNMENT COLLEGES

· MOVE AIMED AT HELPING BRIGHT POOR STUDENTS OF GENERAL CATEGORY BESIDES IMPROVING GER IN HIGHER EDUCATION

Chandigarh, December 1: The Punjab Cabinet led by Chief Minister Charanjit Singh Channi on Wednesday accorded approval for implementation of the Chief Minister Scholarship Scheme in Higher Education for government colleges in the state.

The scheme would help the bright poor students particularly of general category besides helping to further improve the Gross Enrollment Ratio (GER) in the Higher Education which is very at low at present. The scheme would involve annual financial implication of Rs. 36.05 crore.

Divulging the salient features of the scheme, a spokesperson of the Chief Minister’s Office said the scheme shall be applicable only to the students studying in government colleges, scholarship amount shall be equal and limited to the concession in terms of percentage in fee being charged by the Universities. Students obtaining marks more than 60% but less than 70% will be given concession in University fee equivalent to 70%. Likewise, students obtaining marks more than 70% but less than 80% will be given concession @ 80%. Students obtaining marks more than 80% but less than 90% will be given concession @ 90% and students obtaining marks more than 90% but less than 100% will be given concession @ 100%.

The scholarship shall be given to the students only if they are not paid any other scholarships. Further in case a student is getting scholarship from any other scheme of the State Government or Central Government, and concession available under the present scheme are more than the benefits under that scheme of State or Central Government, then only the difference shall be payable to such student.

This concept shall be payable only if a student clears the examination in all subjects. In case a student has not passed in any subject despite the fact that he or she may have obtained marks which made him/her eligible to obtain the scholarship otherwise, he/she shall not be considered for scholarship under the scheme. Scholarship scheme shall be applicable to the students studying in the Under Graduate as well as the Post Graduate Courses, added the spokesperson.