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Punjab govt to levy fresh property tax

Last Updated: Saturday, September 1, 2012 - 12:27

Chandigarh: The Punjab government has decided to levy a few fresh taxes, including property tax, to mop up additional resources to the tune of Rs 900 crore per year.

"In a bid to step up the pace of development and streamline delivery of services to the people at the cutting edge, the Punjab Council of Ministers under the chairmanship of Chief Minister Parkash Singh Badal took a series of decisions to mop up additional resources and streamline governance," an official spokesman said here.

"All these tax proposals would yield about Rs 900 crore per year," he said.

Besides, the cabinet decided to offer an option of re-employment for the period of one year to all its retiring employees at the age of 58 years.

"This has been done to cope up the shortage of 35,000 employees whose recruitment would take about a year's time," the spokesman said.

To ensure that the decision does not adversely affect the employment prospects of the youth, the maximum age limit for recruitment to government services would be enhanced from 37 to 38 years.

On the resource management side, the cabinet decided to roll back its earlier decision to levy 5 per cent VAT on sugar. The demand was made by the SAD's ally BJP.

"The government would thus take a liability of Rs 100 crore to ensure that the common man gets sugar at cheaper rates," the spokesman said.

The cabinet also approved the proposals of the Excise & Taxation department which would generate an additional revenue of Rs 400 and loss of Rs 100 crore on account of the withdrawal of VAT on sugar giving Rs 300 crore net every year.


First Published: Saturday, September 1, 2012 - 12:27
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