Punjab budget-2021 will usher in all round development in the State : PHD Chamber of Commerce and Industry

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Chandigarh

9 March 2021

DIVYA AZAD

Welcoming the Punjab Budget 2021, Mr. R S Sachdeva, Mentor of  Punjab State Chapter, PHD Chamber of Commerce and Industry said the budget  will help in all round development in the State and will benefit both industry and agriculture sector.

Mr. Sachdeva stated that setting up of District Bureau of Industry & Investment Promotion in different districts of Punjab is a welcome step. Industry members need not visit Punjab Bureau office for various approvals and clearances. It will help Ease of doing business in the State.

He also welcomed upgradation of Industrial Focal points infrastructure and statutory mechanism for deemed approval for various regulatory clearances.

He stated One time settlement (OTS) Policies for defaulters of interest free loans; for restoration of cancelled allotment of PSIEC plot holders; for recovery of enhanced land cost PSIEC plot holders and for loanees and equity holders of PSIDC/ PFC would reduce hasslement and facilitate the investors.

Mr. Karan Gilhotra, Chair, Punjab State Chapter, PHD Chamber of Commerce and Industry mentioned launch of New umbrella programme — ‘Kamyaab Kisan Khushaal Punjab’ will benefit farmers in a big way. Out of Rs 3,780 crore to be spent in the next 3 years, Rs 1,104 crores have already been allocated for 2021-22.

He welcomed establishment of Centre of Excellence for vegetables at Fazilka as it will enhance prospects of value chain for vegetables and fruits.

Mr. Gilhotra stated that the provision of Rs 150 crore for the Punjab Innovation fund for early stage startups will provide the crucial capital to youngsters and help in boosting startup ecosystem in the State.  He also welcomed the proposal to extend the GST incentives up to October, 2022 that will definitely attract new investments in Punjab. The provision of Rs 1,600 crore for Smart Cities mission will boost the construction industry and help in providing good infrastructure in the State. He also welcomed the proposal for subsidized electricity to industry. He added that the OTS policy for loan defaulters will provide a chance to industry to amicably settle their outstanding dues.

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