January 12, 2021 7:39:13 am
Amid ongoing Covid pandemic, the Punjab Cabinet Monday gave approval for levying Special Infrastructure Development (ID) fee on petrol, diesel and purchase of immovable property with an aim to generate an additional revenue of Rs 216.16 crore.
The special ID fee would be imposed at the rate of Rs 0.25 per litre each on sale of petrol and diesel within the state. Likewise, special ID fee at the rate of Rs 0.25 would also be levied for every 100 rupees of the value of purchase of immovable property within the state.
The collection will be deposited in the development fund of Punjab Infrastructure Development Board (PIDB), as per a government statement.
The Cabinet, which held its meeting under the leadership of Chief Minister Amarinder Singh, also gave approval for certain amendments in the Punjab Infrastructure (Development and Regulation) Act, 2002 through promulgation of an Ordinance and thereafter introducing a Bill — the Punjab Infrastructure (Development and Regulation) Amendment Bill, 2021 in the Vidhan Sabha.
To effect the imposition of special ID fee, an amendment would be made in the existing provision by inserting a new Section 25-A on levy of special fee.
The decision to impose the special ID fee on fuel will further make petrol and diesel costlier in Punjab in comparison to neighbouring Chandigarh and Haryana, according to a fuel pump owner in Mohali. Compared to Chandigarh, petrol is costlier by Rs five in Punjab. Diesel is costlier by Rs.2.
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