Punjab Cabinet led by Chief Minister Capt Amarinder Singh on Monday gave a go ahead to levy Special Infrastructure Development (ID) Fee to be deposited in the Development Fund of Punjab Infrastructure Development Board (PIDB) by increasing the prices of diesel and levy on registration of property.
According to a spokesperson of the Chief Minister’s Office, the Special ID Fee would be imposed @ Rs.0.25 per litre each on sale of Petrol and Diesel within the state. Likewise, Special ID Fee @ Rs.0.25 would also be levied for every one hundred rupees of the value of purchase of immovable property within the state.
The Special ID Fee imposed will lead to creation of additional revenue streams of Rs.216.16 crores approximately annually into the Punjab Infrastructure Development Fund (PIDF).
Likewise, the Cabinet 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 viz. the Punjab Infrastructure (Development and Regulation) Amendment Bill, 2021 in the Punjab Vidhan Sabha.
