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Punjab to create land banks to boost industrial development

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Decision taken at a meeting chaired by Chief Minister

The Punjab Cabinet on Monday gave in-principle approval to amend the Punjab Village Common Land (Regulation) Rules, 1964, to create land banks in rural areas to boost industrial development in the State.

“It was, however, decided to further fine-tune the amendments to ensure that the panchayats get their dues, with all decisions to be taken on a case-to-case basis, keeping their interests in view,” said an official statement. The meeting was held under the chairmanship of Chief Minister Amarinder Singh.

The statement added the Cabinet cleared the proposal of the Rural Development and Panchayats Department for insertion of Rule 12-B in the ‘Punjab Village Common Lands (Regulation) Rules, 1964’ to provide special provision for transfer of ‘Shamlat lands’ (consolidation of landholdings for common use) for development of industrial infrastructure projects.

The underlying objective of this amendment is to facilitate gram panchayats to promote development of villages by unlocking the value of Shamlat land. The new rule would pave the way for transfer of Shamlat land for industrial projects to the Industry Department and Punjab Small Industries and Export Corporation (PSIEC), said the statement.

“The Cabinet also approved various amendments to the Factories Act, 1948, Industrial Disputes Act, 1947 and Contract Labour (Regulation & Abolition) Act, 1970. Besides, it okayed an ordinance to bring in the Punjab Right to Business Act, 2019 and Punjab Right to Business Rules, 2019, aimed at promoting ease of doing business for the newly incorporated Micro, Small and Medium Enterprises (MSMEs),” said the statement.

New pension scheme

The Cabinet also decided to increase its share in the new pension scheme, in line with the decision of the Government of India, with effect from April 1, 2019. It approved the Punjab Goods and Services Tax ordinance, 2019, to make amendments in accordance with those made to the Central Goods and Services Tax Act, 2017, of which it was a replica.

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Printable version | Dec 7, 2019 11:43:45 AM | https://www.thehindu.com/news/national/other-states/punjab-to-create-land-banks-to-boost-industrial-development/article30142317.ece

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