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Punjab nod to Excise Policy

CHANDIGARH, MARCH 10. The Punjab Cabinet today approved the Excise Policy for 2005-06 with a projected revenue for the said fiscal at Rs 1,508 crore against Rs 1,480 crore during 2004-05.

The Excise policy for the next fiscal (2005-06) was approved at the state Cabinet meeting here which was presided over by the Chief Minister, Amarinder Singh.

The prohibition on sale of liquor within the walled city of Amritsar and municipal limits of Anandpur Sahib, Talwandi Sahib, Chamkaur Sahib, Bhaini Sahib (District Ludhiana), Kiratpur Sahib Ropar, Raian Ludhiana, Khaddor Sahib and Muktsar Muktsar would continue in the next fiscal as well, an official spokesman here said.

The spokesman further said that ten per cent of the auction money of PML and 16 per cent of the duty on IMFL/beer was placed at the disposal of the Department of Rural Development and Panchayats/Local Government and Defence Services Welfare for making grants to Panchayat Samitis, Urban Local Bodies and Cantonment Boards in lieu of Panchayat Samitis Tax/Octroi.

The Council of Minister also approved the conversion of the Punjab Value Added Tax Ordinance, 2005 into an Act through the presentation of a Bill in the forthcoming Budget Session of Punjab Vidhan Sabha.

The Cabinet also gave its approval for the creation of 'Punjab Infrastructure Fund Account' out of the sale proceeds of the properties transferred to Punjab Urban Planning and Development Authority under Optimum Utilisation of Vacant Government Land(OUVGL) scheme.

The state cabinet also approved the Punjab Herd Registration Bill, 2005. This legislation would be first of its kind in the country and go a long way in the development of dairy sector in the state and making it globally competitive. This legislation envisages a close cooperation between public and private sector.

The Council of Ministers also approved the amendment in Sub Section (I) of Section 7 of the Punjab Agricultural Produce Markets Act 1961.

UNI

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Punjab nod to Excise Policy

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