FM Nirmala Sitharaman assures Ravneet Bittu of ‘good deal’ for Punjab in Budget

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New Delhi, July 11

Finance Minister Nirmala Sitharaman has assured Union Minister of State for Railways and Food Processing Ravneet Bittu of giving Punjab a generous deal in the coming Budget.

Bittu met Sitharaman on Thursday and discussed various issues regarding Punjab and urged the Finance Minister to give incentives for the industry and farmers.

He demanded special incentives for border districts of Amritsar, Ferozepur, Gurdaspur and Tarn Taran to boost investment and employment opportunities.

Demands raised by MoS with Nirmala

• Incentives for border districts of Amritsar, Ferozepur, Gurdaspur and Tarn Taran
• Credit-Linked Capital Subsidy Scheme with a threshold limit of Rs 1 crore
• GST reduction on e-bicycles to 5 per cent
• Sops for farmers with landholdings up to 5 acre

Bittu urged the FM to reintroduce flagship Credit Linked Capital Subsidy Scheme with a threshold limit of Rs 1,00,00,000, as there is lack of effective schemes supporting MSMEs in achieving technological advancements.

Suggesting for amendment to freight subsidy criteria to cover the MSMEs in Punjab, Bittu told the FM that transportation costs to deliver goods to the nearest port from the state was much higher.

He also demanded the reduction of the GST to 5 per cent on e-bicycles.

Bittu also asked for “Farmer Entrepreneur Initiative” and special incentives to the agro-based MSME industry along with the food processing industry as it would help farmers to set up food processing industries which would generate employment in the border state. He suggested the lower rate of interest, collateral-free loans, relaxation in the CGST. He also sought waiver for farmers with land holdings up to 5 acre, soil-testing labs for Majha, Doaba and Malwa regions, special package for R&D at Punjab Agriculture University, Ludhiana.