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Punjab constitutes Punjab Development Fund Board

punjab-map-orange-LMIChandigarh January 22, 2015 (Yes Punjab News)

With a view to utilize the revenue collected from sale of liquor in the state, the Punjab Government has constituted Punjab Development Fund Board under the chairmanship of Excise and Taxation Minister.

 

The Board would utilize dedicated funds for the purpose of different welfare schemes, creation of community assets of durable nature, de-addiction and maintenance and development of culture & heritage in the state.

 

Disclosing this spokesman of the Punjab Government said that the state Excise & Taxation Department collects substantial revenue from the sale of liquor to utilize this revenue for the purpose of some social welfare schemes.

 

He also said under the excise policy out of fee received from the sale of applications for allotment of liquor vends, 25% amount would be dedicated to this fund.

 

As per the notification issued by the state government, Excise and Taxation Minister would be the Chairman of the board.  Chief Parliamentary Secretary excise and taxation, Chief Secretary, Financial Commissioner Taxation, Principal Secretary Finance and excise and taxation commissioner would be its members.

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