Tribune News Service
Chandigarh, March 4
The Punjab Cabinet led by Chief Minister Amarinder Singh on Thursday accredited a number of key recommendations of the 6th Punjab Finance Commission, together with compensation towards income losses on sure counts.
The Commission had submitted seven recommendations for 2021-22 to the Punjab Governor on January 29, 2021. While six have been accredited by the Cabinet right this moment, one referring to continuation of devolution of 4% personal share of state taxes to Local Bodies for the yr 2021-22 might be examined by a Group of Ministers (GoM), an official spokesperson stated after the Cabinet assembly. The GoM shall comprise Finance Minister, Local Government Minister, Rural Development & Panchayats Minister and Water Supply & Sanitation Minister.
Among the key recommendations accepted by the Cabinet are: continuation of compensatory funds in case of loss of income from abolition of octroi on energy and liquor to native our bodies for the yr 2021-22; continuation of 16% share of excise obligation on IMFL and 10% share on public sale cash from liquor vends to be devolved to the Panchayati Raj Institutions (PRIs) and Urban Local Bodies (ULBs).
The Sixth State Finance Commission, was constituted by Punjab Government below part 3(1) of the Punjab Finance Commission for Panchayats and Municipalities Act, 1994 vide notification on July 3, 2018, below the chairmanship of former Chief Secretary KR Lakhanpal.