What Initiatives Did the Punjab Cabinet Approve to Enhance Industry and Commerce?
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Synopsis
Discover how the Punjab Cabinet, led by Chief Minister Bhagwant Mann, is taking decisive steps to enhance industry and commerce. From new settlement schemes for outstanding dues to policies aimed at revitalizing rice mills, these initiatives are set to stimulate economic growth and create job opportunities in the state.
Key Takeaways
- The Punjab Cabinet approved initiatives to boost industry and commerce.
- The Punjab One-Time Settlement Scheme will ease compliance burdens for businesses.
- The OTS Policy for Rice Mills aims to resolve outstanding dues.
- Amendments to the Punjab Apartment and Property Regulation Act will ensure planned development.
- Legal actions against former minister Sadhu Singh Dharmsot were also approved.
Chandigarh, Sep 24 (NationPress) The Punjab Cabinet, under the leadership of Chief Minister Bhagwant Mann, approved several initiatives aimed at revitalizing industry and commerce to stimulate the state's economy. This decision was made during a meeting of the Council of Ministers.
A spokesperson from the Chief Minister’s Office announced that the Cabinet has sanctioned the Punjab One-Time Settlement Scheme for Recovery of Outstanding Dues, 2025. This scheme is designed to alleviate the compliance burden associated with legacy cases, facilitating greater compliance for trade and industry.
The One Time Settlement Scheme will be effective from October 1, 2025, and will be in place until December 12, 2025. It applies to taxpayers whose assessments were finalized by September 30 and whose rectification, revision, and amendment orders have been completed by the department by the same date.
Additionally, the Cabinet approved the introduction of the One Time Settlement (OTS) Policy for Rice Mills, 2025. This policy mandates that each miller must reconcile their accounts with state procurement agencies post-milling period to be eligible for the allocation of paddy for the subsequent year.
Over the years, several rice mills have failed to remit their outstanding dues, leading to their designation as defaulters, with legal proceedings initiated against them. These cases have been lingering in various courts and legal forums for years.
The newly introduced OTS aims to reduce litigation for all agencies and facilitate the resolution of these cases, thereby revitalizing struggling rice units and creating more employment opportunities within the state.
This initiative will also serve as a catalyst for the efficient and expedited lifting of paddy from the mandis.
Moreover, the Cabinet consented to amend Section 5(1), 5(3)(ii), and Section 5(8) of the Punjab Apartment and Property Regulation Act, 1995. These amendments are intended to ensure that colonies and areas are developed in a systematic and orderly fashion, addressing public concerns.
Additionally, the Cabinet approved the recommendation for prosecution against former minister Sadhu Singh Dharmsot under Section 197(1) of the Code of Criminal Procedure and under Section 19 of the Prevention of Corruption Act, 1988.
Point of View
The initiatives taken by the Punjab Cabinet are a proactive approach to revitalize the industrial landscape of the state. The introduction of settlement schemes signifies a commitment to supporting businesses while addressing outstanding dues. This balanced approach could foster a more favorable business environment, ultimately benefiting the economy at large.
NationPress
11/11/2025
Frequently Asked Questions
What is the Punjab One-Time Settlement Scheme?
The Punjab One-Time Settlement Scheme is designed to help businesses clear outstanding dues and reduce compliance burdens, promoting better compliance within the trade and industry.
When will the One-Time Settlement Scheme be implemented?
The scheme will be effective from October 1, 2025, until December 12, 2025.
What is the purpose of the One Time Settlement (OTS) Policy for Rice Mills?
The OTS policy aims to facilitate rice millers in settling their accounts with state procurement agencies, allowing them to qualify for paddy allotments for the next milling cycle.
How does the Cabinet's decision impact the local economy?
These initiatives are expected to revitalize the industrial sector, create job opportunities, and streamline processes, ultimately benefiting the local economy.
What legal actions are being taken against former minister Sadhu Singh Dharmsot?
The Cabinet has approved prosecution under various sections of the Code of Criminal Procedure and the Prevention of Corruption Act due to allegations of corruption.
