E-Paper
Punjab pushes for sops to boost border area development
Making a presentation before the 16th Finance Commission, led by chairman Arvind Panagariya, additional chief secretary (industries and commerce) Tejveer Singh outlined the industry-friendly ecosystem of Punjab needing the requisite support in order to ensure development at accelerated pace across the industrial spectrum.
The Punjab government on Tuesday sought a special package of incentives for rapid industrial development in border districts, equivalent to those offered in Jammu & Kashmir, to control flight capital from the state.
Making a presentation before the 16th Finance Commission, led by chairman Arvind Panagariya, additional chief secretary (industries and commerce) Tejveer Singh outlined the industry-friendly ecosystem of Punjab needing the requisite support in order to ensure development at accelerated pace across the industrial spectrum.
A one-time compensation was sought for mitigating the economic losses incurred due to the trade embargo at the Attari-Wagah border, along with annual compensation until its reopening. Besides, a dedicated special economic export zone to enhance exports of agri-products and Basmati rice was also sought. The state also sought a freight subsidy to offset high logistics costs for industries, particularly in border districts. Similarly, a production-linked incentive (PLI) scheme was sought to promote diversification, competitiveness and employment opportunities in the agricultural sector, and subsidised interest rates on term loans and working capital. The special tax benefits, akin to those provided to hill states, to support the border industry were sought too.
Finance minister Harpal Singh Cheema, NRI affairs minister Kuldeep Singh Dhaliwal, power minister Harbhajan Singh ETO and transport minister Laljit Singh Bhullar honoured Panagariya.
