Witha view to give further impetus to overall infrastructure development across thestate, the Punjab Cabinet led by Chief Minister Captain Amarinder Singh onMonday gave a go ahead to levy Special Infrastructure Development (ID) Fee tobe deposited in the Development Fund of Punjab Infrastructure Development Board(PIDB).
Accordingto a spokesperson of the Chief Minister’s Office, the Special ID Fee would beimposed @ Rs.0.25 per litre each on sale of Petrol and Diesel within the state.Likewise, Special ID Fee @ Rs.0.25 would also be levied for every one hundredrupees of the value of purchase of immovable property within the state. TheSpecial ID Fee imposed on the aforesaid items would led to creation ofadditional revenue streams of Rs.216.16 crores approximately annually into thePunjab Infrastructure Development Fund (PIDF).
Likewise,the Cabinet also gave approval for certain amendments in the PunjabInfrastructure (Development and Regulation) Act, 2002 through promulgation ofan Ordinance and thereafter introducing a Bill viz. the Punjab Infrastructure(Development and Regulation) Amendment Bill, 2021 in the Punjab Vidhan Sabha.
Toeffect the imposition of Special ID Fee, an amendment to the effect would bemade in the existing provision by inserting a new Section 25-A Levy of SpecialFee, which stipulates "Notwithstanding anything contained in this Act, theState Government may impose the Special ID Fee for purpose of which a specialhead shall be created under which the accrued Special ID Fee shall be collectedand deposited to the Development Fund created under the provisions of Section27(1)."