India News | Ahead of Punjab Assembly Polls, SAD Chief Promises Incentives to Industries
Get latest articles and stories on India at LatestLY. SAD chief Sukhbir Singh Badal on Sunday promised the industries a slew of incentives, including a dedicated ministry for small enterprises and traders and 50 per cent reduction in external development charges, if the SAD-BSP alliance comes to power in the 2022 Punjab assembly polls.
Ludhiana (Punjab), Nov 28 (PTI) SAD chief Sukhbir Singh Badal on Sunday promised the industries a slew of incentives, including a dedicated ministry for small enterprises and traders and 50 per cent reduction in external development charges, if the SAD-BSP alliance comes to power in the 2022 Punjab assembly polls.
He also promised them reduction in registry charges, life, health and fire insurance for small traders, a pension scheme for them, Rs 5 lakh interest free loan for new entrepreneurs, assured power supply at the rate of Rs 5 per unit and a skill university to train required manpower.
Also Read | Tamil Nadu Rains: Heavy Rainfall Causes Waterlogging in Chennai and Adjoining Districts, NDRF on Alert.
Addressing a gathering of business persons here, the Shiromani Akali Dal president said, "The SAD is very clear that Punjab can progress to the next level by giving a fillip to the trade and industrial sector. We must bank on the enterprising spirit of Punjabis by encouraging the home grown industry and removing any impediment in its growth."
He said that the industrial and trade sector would get an opportunity to frame its own policies once the SAD-BSP alliance forms the government.
An advisory board would be established which would frame the new policies of the new ministry for small traders and micro, small and medium enterprises sector, he said.
"Our purpose once the SAD-BSP government is formed is to end red tape and rely on self-declaration only," he said.
He also said that trade and industry would not have to maintain any books for a turnover less than Rs 25 lakh. “Only a small lump sum will be charged from them," he added.
The SAD chief also said that a Build Punjab agency would be established which would not only regulate the functioning of the real estate sector but would also issue all clearances within 45 days.
He said that the external development charge as well as registry charge would be halved to encourage real estate activity.
"We will also allow the industry to maintain industrial estates and the government will fund this initiative to ensure the industry is in the driver's seat while deciding on development needed in industrial estates," he said.
The SAD president also interacted with the industry representatives and answered their queries, according to a party statement.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)