Should Industrialists in Punjab Revamp Focal Points?
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Synopsis
In a pivotal round table in Punjab, industry leaders urge a revamp of focal points and industrial zones. With concerns over high fees and taxation, the state government promises to prioritize these issues, paving the way for growth and development in the industrial sector. What changes can we expect in the near future?
Key Takeaways
- Revamping focal points is essential for industrial growth.
- The one-time settlement policy eases financial burdens.
- Lowering GST on bicycles will benefit both manufacturers and consumers.
- Infrastructure development is crucial for attracting investments.
- Collaboration between industry and government is key to progress.
Chandigarh, July 17 (NationPress) A round table discussion involving industry associations across Punjab took place on Thursday, featuring state Industry Minister Sanjeev Arora and Finance Minister Harpal Cheema. The primary request was to overhaul all focal points and industrial zones.
Initially, industry representatives expressed appreciation to the Punjab government for introducing the long-awaited one-time settlement policy. This policy facilitates the resolution of litigated industrial plot dues in focal points by paying an eight percent interest penalty.
Numerous pressing issues impacting the industrial sector were discussed, including the urgent necessity to revamp all focal points and industrial zones, placing a cap on high mortgage and hypothecation fees for industrial loans, reducing the GST on bicycles from 12% to 5%, rationalizing wheeling charges for solar power transmission, providing dry port container facilities for rice exporters in Amritsar, and accelerating the development of convention centers in Amritsar, Mohali, and Ludhiana.
Minister Arora assured industry leaders that these issues would be prioritized and addressed within a 45-day timeframe.
His Cabinet colleague, Cheema, pledged to raise the topic of reducing GST on bicycles during the upcoming GST Council meeting.
He also committed to reassessing the discontinuation of the 2.5% fiscal incentive that was removed by the previous government in 2018.
Aam Aadmi Party Rajya Sabha MP, Vikramjit Singh Sahney, emphasized the urgency of accelerating infrastructure development in the Rajpura Industrial Zone, encouraging industrialists to establish their units there.
He pointed out that Punjab boasts one of the lowest power tariffs for industries in the country.
Simultaneously, Industry Minister Arora stated that the state government is set to introduce a new industrial policy, touted to be the best in India, which will foster a progressive environment for industrial growth and job creation in Punjab.
He noted that this policy will be crafted after extensive consultations with various industries.
As an initial step, the state government is prepared to announce sector-specific committees to facilitate structured and collaborative engagement between the industry and the government.
These committees will operate for two years from the date of notification, with the possibility of extension at the government's discretion, the Minister added.
Point of View
The dialogue between Punjab's industry leaders and the state government reflects a growing recognition of the need for systemic change in the industrial sector. By prioritizing infrastructure and fiscal policies, Punjab aims to enhance its industrial landscape, which is essential for economic growth and job creation.
NationPress
17/07/2025
Frequently Asked Questions
What is the main demand from industrialists in Punjab?
Industrialists in Punjab are primarily demanding a revamp of all focal points and industrial zones to improve operational efficiency.
How does the one-time settlement policy benefit industrialists?
The one-time settlement policy allows industrialists to resolve long-standing litigated dues at a reduced interest penalty of eight percent.
What changes are proposed concerning GST on bicycles?
There is a proposal to reduce GST on bicycles from twelve percent to five percent, which would significantly lower costs for manufacturers and consumers.
What role do sector-specific committees play?
Sector-specific committees will facilitate structured engagement between the industry and government, ensuring that the concerns of industrialists are effectively addressed.
How does Punjab's power tariff compare to other states?
Punjab offers one of the lowest power tariffs for industries in India, making it an attractive location for industrial investments.
