CABINET NOD TO 6TH STATE FINANCE PANEL PROPOSALS

CHANDIGARH: The Punjab cabinet on Thursday approved key recommendations of the 6th Punjab Finance Commission, including compensation against revenue losses on certain counts, and formed a group of ministers (GoM) to examine the proposal on devolution of state tax share to local bodies. The commission had submitted seven recommendations for 2021-22 to the state governor on January 29. Of these, the cabinet has approved six and the one relating to the continuation of devolution of 4% own share of state taxes to local bodies 2021-22 will be examined by the GoM.