STATE TO HONOUR 635 VAT PAYERS
CHANDIGARH: Punjab deputy chief minister Sukhbir Singh Badal has announced a plan to honour 635 VAT (valueadded tax) payers of the state who contributed more than 94% in VAT collections.
CHANDIGARH: Punjab deputy chief minister Sukhbir Singh Badal has announced a plan to honour 635 VAT (value-added tax) payers of the state who contributed more than 94% in VAT collections of the state.
Speaking after honouring “achievers of north India” at a function held here on Sunday, Sukhbir said recognition was a motivating factor that propelled individuals to excel in life. Lauding the organisers for recognising services of individuals in various fields, Sukhbir said the Punjab government would also hold a function to honour 635 VAT payers who helped sustain Punjab’s economy.
He said similar functions would be organised at the district level to honour taxpayers. “VAT collections in the state have more than doubled in the past five years because of transparency in the tax collection system. The collections are likely to touch Rs 16,000 crore this year,” he added.
Promising total transformation of the state in the next three years, the deputy CM said the state government had already finalised a plan to give a big push to the infrastructure sector in a big way. He said besides linking all cities with four to six-lane roads at a cost of Rs 12,000 crore, the dream of making Punjab power-surplus would be realised by December this year.
Inviting investors to set up ventures in the state, Sukhbir said within 15-20 days, the new industrial investment policy would launch online investment portal, in which investors sitting in any corner of the world could fulfil formalities online.
He said the new investment policy would be the most comprehensive policy that would not remain confined to the industry alone but would also cover every type of investment in the state.
Earlier, speaking on the occasion, Bikram Singh Majithia, revenue and public relations minister, Punjab, said the governance reforms initiated by the state government were being replicated by other states and the union government.