Friday, March 29, 2024

Punjab cabinet approves many key proposals of 6th Punjab Finance Commission

Date:

Chandigarh, March 4:

The Punjab Cabinet led by Chief Minister Captain Amarinder Singh on Thursday approved several key recommendations of the 6th Punjab Finance Commission, including compensation against revenue losses on certain counts.

The Commission had submitted 7 recommendations for 2021-22 to the Punjab Governor on January 29, 2021. While 6 have been approved by the Cabinet today, one relating to continuation of devolution of 4% own share of state taxes to Local Bodies for the year 2021-22 will be examined by a Group of Ministers (GoM), an official spokesperson said after the Cabinet meeting. The GoM shall comprise Finance Minister, Local Government Minister, Rural Development & Panchayats Minister and Water Supply & Sanitation Minister.

Among the key recommendations accepted by the Cabinet are: continuation of compensatory payments in case of loss of revenue from abolition of octroi on power and liquor to local bodies for the year 2021-22; continuation of 16% share of excise duty on IMFL and 10% share on auction money from liquor vends to be devolved to the Panchayati Raj Institutions (PRIs) and Urban Local Bodies (ULBs).

The Sixth State Finance Commission, was constituted by Punjab Government under section 3(1) of the Punjab Finance Commission for Panchayats and Municipalities Act, 1994 vide notification on July 3, 2018, under the chairmanship of former Chief Secretary KR Lakhanpal. It included VC Punjabi University Patiala Dr. BS Ghuman as Expert Member besides Financial Commissioner Rural Development & Panchayats and Principal Secretary Local Government as Ex-Officio Members. Former Principal Secretary Science Technology & Environment Dr. Roshan Sunkaria was appointed Member Secretary.

Discussions

Discussions

Punjabi Khurki
Punjabi Khurki
Punjab is no longer just a state but a State of Mind: A way to live!! ...So Let's Burrraaah with Punjabi Khurki!

Share post:

Subscribe

Advertisementspot_img
Advertisementspot_img

Popular

More like this
Related

ED chief Sanjay Mishra gets tenure extension from SC till September 15

New Delhi, July 27: The Supreme Court on Thursday...

Patiala tops list of villages hit by recent floods; 27,286 evacuations carried out

Chandigarh, July 27: The State Government machinery has been...

Mann slams Modi govt, seeks President’s Rule in Manipur

New Delhi/ Chandigarh, July 27: Punjab Chief Minister Bhagwant...

All pet shops, dog breeders in Punjab be registered with Animal Welfare Board

Chandigarh, July 27: In a bid to ensure the...