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last mo.

Punjab Cabinet Approves Land Use Reforms and Merges Finance Directorates

Officials expect the reforms to simplify estate management, improve business efficiency, boost revenues.

Industrial associations had raised concerns about certain restrictive conditions in the 2021 policy. In response, a committee reviewed the requests from industrialists and proposed a set of changes applicable to freehold plots. As per the revised policy, a conversion charge of 12.5% of the industrial reserve price will be levied. (HT File)
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Overview

  • The revised industrial land use policy allows freehold plots to be repurposed for hospitals, hotels, industrial parks and other uses with a 12.5% conversion charge.
  • Leasehold industrial plots and sheds managed by PSIEC can now convert to freehold properties under streamlined conditions.
  • Amendments to the MSME Facilitation Council Rules establish a mechanism to recover delayed payment awards as land revenue.
  • Service rule changes in the Water Resources Department permit qualified canal patwaris and revenue clerks to compete for Junior Engineer Group-B posts.
  • Finance department directorates covering small savings, banking, pensions and public enterprises will be consolidated into four entities, saving about ₹2.64 crore annually.