CHANDIGARH: The Punjab government approved the interest deduction on Sunday on the additional amount recovered from the awardees of the Development Authority Improvement Trust. At the cabinet meeting chaired by Prime Minister Charanjit Singh Channi, it was decided to reduce the interest rate on the additional amount to be recovered from 15 percent to 7.5 percent.
Addressing the media, Channi said that landowners often go to court to obtain compensation for land acquired by state development authorities to establish residential colonies. According to a spokesperson for the Chief Minister’s Office, this decision will benefit some 40,000 families under various reform trust schemes.
the punjab government cut gasoline and diesel prices
Days after the central government reduced excise taxes on fuel, the congressional-led government in Punjab lowered the value-added tax (VAT) on gasoline and diesel in the state, raising their prices by Rs 10 per liter. and 5 rupees per liter, respectively. it will be a reduction of up to Rs. The new gasoline and diesel rates will be applicable from midnight. Gasoline in Punjab is currently priced at Rs 106.20 per liter and diesel at Rs 89.83 per liter.
The decision to reduce VAT on fuel was made at a cabinet meeting chaired by Punjab’s Chief Minister Charanjit Singh Channi. “We are reducing the price of gasoline by Rs 10 per liter and diesel by Rs 5 per liter starting at midnight,” Channi said.
He said that the people of Punjab can consider it a Diwali gift. We will continue to give such gifts in the future as well. He claimed that after this cut, the price of gasoline in Punjab would be the lowest among the northern states of India for the first time in 20 years.
It should be noted that the Punjab assembly elections will be held in May next year. Shiromani Akali Dal, the Bharatiya Janata Party and the Aam Aadmi Party were demanding that the state government reduce fuel taxes to provide relief to consumers.