In a much needed reprieve to trade and industry of thestate, the Punjab Chief Minister Mr Charanjit Singh Channi on Wednesdayannounced to scrap 40,000 pending cases of VAT, out of total 48,000 casesrelated to Financial Year 2014-15,2015-16 and 2016-17, against traders and industrialists across the state.
Addressing a galaxy of industrialists, traders andprospective entrepreneurs on the 2nd day of 4th Progressive Punjab InvestorsSummit on the theme of ‘A story of Partnership, Delivery & Growth:Investors Reassured’ here, the Chief Minister however said that only 8000remaining cases will be settled amicably by asking the concerned traders/industrialists to deposit just 30% of the total outstanding tax liability thussaving them from lot of inconvenience caused to them on this count. By giving afurther relief to them, he announced that they will only have to deposit 20% ofthe aforesaid tax liability during current fiscal and the balance 80% by thenext. CM Channi categorically said that this industrial friendly initiativewill go a long way in boosting their morale to invest in a big way adding hesaid that the state government will act as a facilitator to promote industry atnew heights of glory.
Assuring of the best air connectivity to boost economicactivity in the region, the Chief Minister also announced to lay the foundationstone of upcoming Green Field airport at Halwara (Ludhiana) on November 15 andsaid that prestigious airport will be completed within a period of eightmonths.
Reiterating his government’s firm commitment to create aconducive ecosystem for ease of doing business in the state, the Chief Ministerassured the trade and industry of fulsome support to emerge Punjab as the frontrunner state not within the country but across the globe.
Listing the major initiatives to repose confidenceamongst the industrialists and traders to give further impetus to industrialgrowth, the Chief Minister further said that the Punjab government has alreadyokayed several pro-investor initiatives and concessions to boost trade andindustry in the state in a specially convened Cabinet here today at theindustrial capital of the state. He said that the state government has allowedfaceless assessment of GST and VAT due to which now the traders andindustrialists need not to present themselves physically before the taxationofficers anymore. CM Channi further said that mobile squad earlier comprisingof 14 persons has also been reduced to only four in Taxation department addingthat Institutional Tax in vogue since 2011 also stands abolished for promotionof trade and industry in the state.
The Chief Minister also announced One Time Settlement(OTS) Scheme for the defaulters to be introduced in Punjab State IndustrialDevelopment Corporation (PSIDC), Punjab Financial Corporation (PFC) and PunjabAgro Industries Corporation (PAIC). Likewise, CM Channi also said that anamnesty scheme will also be introduced for the plot holders of Punjab StateIndustries Export Corporation (PSIEC).
The Chief Minister further said that fixed charges onelectricity connections for Medium Scale Industries have been slashed to 50%.He said that Rs.150 crore will be spent on the up-gradation of the infrastructurein the Industrial Focal Points. In another investor friendly initiative MrChanni also announced to relax the condition of reducing the passages toindustry from current 6 to 4 karam to encourage industrialists to set up theirunits in a hassle free manner. He also announced that state government willsoon simplify the procedure for Change of Land Use to facilitate theentrepreneurs and industrials for setting up their ventures seamlessly.
The Chief Minister further said that to boost economicactivity in the borders district of the state the Punjab government willacquire requisite land for Patti-Makhu rail link and hand over to the Ministryof Railways, GoI before ensuing budget. He also said that to encourage tradefrom across the border an Exhibition Centre will be set up at Amritsar. CMChanni also said that to give a major fillip to entertainment industry in theregion the Punjab government will set up a Film City near Chandigarh to promotePunjabi art, culture and music.
In his address Industries Minister Mr Gurkirat Singhkotli welcomed all the dignitaries. He said that due to visionary leadership ofChief Minister Channi industrial growth has got a major fillip in the state. Hesaid that Punjab has today emerged as a hub of industrial activity due toconcerted efforts of the state government.
The Minister envisioned that Ludhiana will further emergeas a hub of industrial activity. He saidthat ease of doing Bussiness and invest Punjab has got major thumbs up by theinvestors. Mr Kotli said that Congress government is committed for overallgrowth and prosperity of the state.
While proposing a vote of thanks PWD Minister Mr VijayInder Singla lauded the Chief Minister for his gar sighted and pro-investorapproach to take state’s industry to new zenith.
Meanwhile, Chairman of Malhotra group Ms Meenu Malhotrafirmed up an investment of RS 1600 crore in real estate sector and ViceChairman and MD Vardhman Textiles Ms Suchita Oswal Jain announced her company’sexpansion plans worth Rs 400 crore in state. Apart from this Vice PresidentInternational Tractors Mr AS Mittal announced to set up another state of theart Tractor factory in the state.
Several other industrialists including Chairman PHD CCIKaran Ghilotra, Chairman, CII Bhavdeep Sardana, Director, Savi InternationalLtd. Mukul Verma, Director, Vivachem Intermediates Pvt. Ltd. Vijay Garg,President, Vibracoustics Jagminder Singh Bawa, MD, Sunjin India Gino Park,President, CICU Upkar Singh Ahuja, Group Chairman, Malhotra Group MeenuMalhotra, Development Centre Head, Infosys Sameer Goel, Vice-Chairman & MDNahar Industries Vardhman Textile Kamal Oswal and Vice President, InternationalTractor Ltd. A S Mittal shared their success stories and highly complimentedthe enormous contribution of industrial growth under the visionary approach ofCM Channi to script a new chapter of economic resurgence in the state.
On the occasion, the Chief Minister also digitallyinaugurated offices of District Bureau of Invest Punjab across the state. Healso released a compendium of reforms highlighting the path breakinginitiatives taken by invest Punjab to boost holistic growth of trade andindustry.
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Prominent amongst others who attended the summit includedDeputy Chief Minister Mr OP Soni, Cabinet Ministers Mr Manpreet Singh Badal, MrGurkirat Singh Kotli, Mr Amarinder Singh Raja Warring and Mr Vijay InderSingla, Lok Sabha MP Dr Amar Singh, Chairman Punjab Warehouse Corporation andMLA Mr Kuldeep Singh Vaid, MLAs Mr Rakesh Pandey, Mr Sanjay Talwar, Mr LakhbirSingh Lakha, Mr Surinder Dawar and Mr Amrik Singh Dhillon. Apart from these,Chief Secretary Mr Anirudh Tiwari, Principal Secretary to Chief Minister MrHussan Lal, Special Principal Secretary to Chief Minister Mr KK Yadav,Principal Secretary Industries Mr Tejvir Singh, CEO Invest Punjab Mr RajatAggarwal were also present on theoccasion.