Keypoints:
- The special ID fee would be imposed at Rs 0.25 per litre each on the sale of petrol and diesel within the state.
- The collection will be deposited in the development fund of Punjab Infrastructure Development Board (PIDB).
Amid the ongoing Covid pandemic, on Monday, the cabinet minister gave approval for levying Special Infrastructure Development (ID) fee on petrol, diesel and purchase of immovable property with an aim to generate an additional revenue of Rs 216.16 crore.
The special ID fee would be imposed at Rs 0.25 per litre each on the sale of petrol and diesel within the state. Similarly, special ID fee at Rs 0.25 would also be levied for every Rs 100 of the value of purchase of immovable property. The move would lead to creation of additional revenue streams of around Rs 216.16 crore annually into the Punjab Infrastructure Development Fund (PIDF).
One-time settlement scheme approved
- In a reprieve to the business community, especially the small and medium businessmen, the “Punjab One Time Settlement Scheme for Recovery of Outstanding Dues-2021” was approved.
- It would facilitate clearing and settling pending arrears, putting a financial burden of Rs121.06 crore on the state exchequer.
- The scheme would be implemented from February 1 under which all dealers whose assessments had been framed up to December 31, 2020, could apply till April 30.
- To facilitate the acquisition, the government will provide Rs3 crore to Begum Munawwar-ul-Nisa, owner of the property, as consideration for transferring property with all its rights to the state government.
The decision to impose the special ID fee on fuel will further make petrol and diesel costlier in Punjab in comparison to neighbouring Chandigarh and Haryana, according to a fuel pump owner in Mohali.In another decision, the cabinet gave approval for acquisition, conservation and use of Mubarik Manzil Palace, Malerkotla in district Sangrur.
The chief minister said this decision would be instrumental in preserving the rich legacy of the state and to reconnect younger generations with the glorious past.
