Punjab to raise funds from industrial, real estate projects

Manufacturing and real estate projects will be charged up to one per cent on total investment by the Punjab government for mobilising funds for the 'Cancer Relief and Drug de-addiction Fund.'
Barely two days after presentation of the 2013-14 state budget, the Empowered Committee on mega projects today made it mandatory for entrepreneurs to contribute 0.25 per cent of total investment in case of manufacturing units, with a maximum cap of Rs 25 lakh and 1 per cent of total investment in case of multiplexes/housing projects, with a maximum cap of Rs one crore.
A decision to this effect was taken in a meeting of the committee chaired by Punjab Chief Minister Parkash Singh Badal here this evening, said an official spokesperson.

Meanwhile, the Empowered Committee also approved four mega projects with a total investment of Rs 578.68 crore, comprising three mega manufacturing projects.