Punjab nod to scholarship scheme for college students

The Punjab cabinet on Wednesday approved the implementation of the “Chief Minister Scholarship Scheme” for higher education.

The scheme will help bright students from financially poor backgrounds, particularly those belonging to the general category, besides boosting the gross enrolment ratio in higher education, according to a government statement. The scheme would put an annual financial burden of Rs 36.05 crore on the state exchequer, said an official spokesperson.

The scholarships will be applicable only to government college students and the scholarship amount shall correspond to the concession in terms of percentage of fee charged by universities.

Students scoring above 60% but below 70% marks will be given a concession equivalent to 70% of the university fee, the government spokesperson said.

Likewise, students scoring between 70% and 80% and between 80% and 90% marks will be given a concession of 80% and 90% in fee, respectively. Students with above 90% marks will avail free education, the spokesperson said.

The scheme cannot be availed fully in tandem with any other scholarship. However, in cases where students receive a scholarship from any other scheme of the state or central government but the concession under the new scheme is higher, only the difference amount between the two scholarships will be paid, the spokesperson said.

Exempts 1.5 lakh cases from Form ‘C’ assessment

The cabinet also decided to exempt about 1.5 lakh cases from assessment related to of ‘C’ form between 2014- 15 and 2017- 18. Resultantly, about 8,500 such cases would now be assessed under this category every year.

This trader-friendly decision would cost Rs 200 crore on the state exchequer, according to the spokesperson.

To further boost trade and economic activity in the state, the cabinet also gave approval to exempt the traders from making payment of 70% of the excess demand and now they would be only required to deposit 30% of the surplus demand.

The spokesperson said the decision would cost the state exchequer Rs 940 crore.

Subsequently, traders will now be required to deposit the said amount i.e. 20% of the 30% portion of the additional demand by March 31, 2022 and the remaining 80% by March 31, 2023.

Notably, the state government has taken these decisions to facilitate traders in the wake of the Covid pandemic.

Though it has been nearly four-and-a-half years since the end of the VAT regime, there was still a heavy burden of VAT assessment on the traders coupled with difficulties in providing C-forms etc. to them.

SCHOLARSHIPS TO BE APPLICABLE ONLY TO GOVT COLLEGE STUDENTS. THOSE WITH ABOVE 90% MARKS WILL AVAIL FREE EDUCATION