Punjab approves credit to mega project promoters

The Punjab Cabinet today approved the procedure to be adopted for giving credit to the promoters of mega projects in the External Development Charges (EDC).

Disclosing this here today, a spokesman of the Punjab government said that the procedure had been rationalised in view of the request made by Confederation of Real Estate Developers Association of India and National Real Estate Development Council to the Chief Minister for reduction in government charges.

The Cabinet also gave ex-post facto approval for amending the instructions regarding grant of relief for crop loss to the affected farmers due to incessant and torrential rain from July 3 to July 7.

It was mandatory to amend these instructions in view of the loss caused to farmers which varied from Rs13,000 to Rs28,000 per acre. According to the amended instructions, relief on account of damage to crop was Rs5,000 per acre where the loss exceeds 75 per cent, Rs3,000 per acre where the loss exceeds 50 per cent and Rs 2,000 per acre where the loss exceeds 25 per cent. The relief would be provided irrespective of the maturity stage of the crop and whether the area can be re-sown or not and the same would be extended to all farmers.