In a major development, the Bhagwant Singh Mann-led Punjab Government approved two one-time settlement (OTS) schemes on Monday. The decision was taken in the Punjab Cabinet Meeting on March 3, 2025. The approval of the two OTS schemes can be a great relief for the state's industrialists.
Punjab New OTS Schemes for Industrialists
The first scheme is the Land Enhancement Scheme, under which industrialists will have to pay their dues with 8% simple interest. Compounding interest and penalty have been waived in this scheme.The second scheme is the OTS scheme linked to the principal amount, in which 8% interest will have to be paid. Two help counters will also be set up for the convenience of the people. Both the schemes will remain in force till December 31, and it is expected that at least 4,000 people will benefit from it.
Punjab New Industralial Policy
After the cabinet meeting, Punjab Cabinet Minister Tarunpreet Singh Sondh said that a new industrial policy will be introduced soon. The government is trying to make it better than other states of the country.
Ludhiana businessman and Rajya Sabha MP Sanjeev Arora was also present at the meeting. Before the meeting, he met Punjab Chief Minister Bhagwant Singh Mann and discussed the problems related to traders.
The meeting was held at the official residence of Chief Minister Mann. Only two schemes were approved in the meeting. In the last cabinet meeting, many big decisions were taken keeping in mind the common people. After the Delhi elections, there has been a change in the working style of the government. The government is trying to connect directly with the public.