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Key Points

The Punjab Cabinet has given its approval to several key initiatives aimed at boosting the state's economy. These include a One-Time Settlement Scheme to help businesses clear outstanding dues and reduce litigation. A separate OTS policy for rice mills will help revive defaulting units and create employment. The cabinet also approved amendments to property laws to ensure more planned urban development.

Key Points: Punjab Cabinet Approves One-Time Settlement Schemes to Boost Industry

  • Punjab OTS Scheme 2025 reduces compliance burden for legacy tax cases
  • New policy for rice mills aims to settle long-pending dues with state agencies
  • Amendments to property regulation act ensure planned development of colonies
  • Cabinet recommends prosecution sanction against former minister Sadhu Singh Dharmsot
2 min read

Punjab Cabinet gives nod to initiatives to boost industry, commerce

Punjab Cabinet led by Bhagwant Mann approves One-Time Settlement schemes for legacy dues and rice mills to revive industry, reduce litigation, and spur economic growth.

"will enable trade and industry to enhance their compliance - Chief Minister’s Office Spokesperson"

Chandigarh, Sep 24

The Punjab Cabinet led by the Chief Minister Bhagwant Mann on Wednesday gave nod to initiatives to boost industry and commerce, to give impetus to its economy.

A decision to this effect was taken at a meeting of the Council of Ministers held here.

A spokesperson for the Chief Minister’s Office said the Cabinet gave approval to introduce Punjab One-Time Settlement Scheme for Recovery of Outstanding Dues, 2025 to reduce the compliance burden of legacy cases and will enable trade and industry to enhance their compliance.

The Punjab One Time Settlement Scheme for Recovery of Outstanding Dues, 2025, will be implemented from October 1, 2025, and will remain in force till December 12.

The taxpayers whose assessments have been framed till September 30 and all the rectification, revision and amendment of assessment orders have been passed by the department till September 30 under the relevant Act(s).

The Cabinet also approved to introduce One Time Settlement (OTS) Policy for Rice Mills, 2025 as each miller is bound to settle its account with each state procurement agency after the milling period is over so that such miller may be considered for the allotment of paddy for custom milling of the next year.

Some rice mills over the years have not deposited their outstanding dues due to which these millers have been declared defaulter and legal and arbitration proceedings have been initiated against such millers.

Such proceedings have been pending with various courts and legal forums for the past many years.

The new OTS has been introduced to minimise the litigation cases of all the agencies, settlement of the cases under the policy so that sick rice units are functional again and revival of industrial units to create more employment opportunities in the state.

Likewise, it will also act as a catalyst for smoother and expedite lifting of the paddy from the mandis.

The Cabinet also gave its consent to amend Section 5(1), 5 (3) (ii) and Section 5 (8) of the Punjab Apartment and Property Regulation Act, 1995.

This will ensure the development of colonies and areas in a proper and planned manner thereby mitigating the problems faced by the public.

The Cabinet also gave approval to recommendation of prosecution sanction against former minister Sadhu Singh Dharmsot under Section 197 (1) of Code of Criminal Procedure (Section 218 of BNSS 2023) and under Section 19 of Prevention of Corruption Act 1988 as amended by P.C. (Amendment) Act 2018 and under Section 197 of Code of Criminal Procedure.

- IANS

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Reader Comments

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Priya S
Good initiative but implementation is key. Hope this doesn't become another scheme that looks good on paper but doesn't reach the common businessman. The rice mill policy could really help revive rural economy.
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Rohit P
As someone from Ludhiana's industrial area, this is welcome news! The compliance burden has been killing small industries. Hope this brings back the glory days of Punjab's industry. 🤞
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Sarah B
Interesting to see Punjab taking proactive steps. The property regulation amendments should help with better urban planning. Chandigarh's planning has always been praised - hope other cities benefit too.
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Aman W
The prosecution sanction against the former minister shows they're serious about corruption. Clean governance is the first step towards industrial growth. Punjab needs this transformation badly.
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Nisha Z
My father runs a small manufacturing unit in Jalandhar. He's been dealing with pending cases for years. This settlement scheme could be a game-changer for us. Hope the process is simple and transparent.

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