With an eye on the upcoming high-stakes assembly polls, the Punjab government on Monday rolled out more populist measures.
In a cabinet meeting, chaired by Punjab chief minister Parkash Singh Badal here, it was decided that farmers who have been cultivating five acres of government agricultural land for the past 20 years can now own that chunk by paying a nominal rate.
The allotment price would be payable to the government over a period of five years in interest-free (bi-annual) 10 instalments. The amount payable upfront would be 20%.
A discount of 10% would be given on the allotment price, if any allottee prefers to pay the entire amount in one go at the time of allotment.
The cabinet also abolished the 2% stamp duty for use of power of attorney on sale of immovable property. The duty is charged in cases when the power of attorney is given to person out of blood relations. The stamp duty would now be a nominal Rs 1,000 on the general power of attorney and Rs 500 on special power of attorney, irrespective of the market value.
Besides, the cabinet approved the reduction of property tax on hotels that will now be charged at rates fixed for any other commercial building.
The cabinet also decided to provide budgetary support for procurement of grains like other states. It was also decided in the meeting to constitute a cabinet sub-committee comprising food and civil supplies minister and finance minister to negotiate with banks for a lower rate of interest on previous loan accounts.
The cabinet also approved the proposal mooted by the local government department to make suitable amendment in the Punjab Municipal Act-1911 and the Punjab Municipal Corporation Act-1976 for disposal of municipal properties under possession of occupiers for a period of 20 years or more.
The cabinet approved the creation post of senior vice-chairman in Punjab state board of technical education and industrial training and Punjab khadi and village industries board.
Nod to reduction of property tax on hotels that will now be charged at rates fixed for any other commercial building
Stamp duty of 2% abolished for use of power of attorney on sale of immovable property.
The Cabinet also decided to provide budgetary support for procument of grains like other states