Punjab News– Punjab Chief Minister Bhagwant Mann has urged the central government to grant Punjab the same tax status as neighboring regions Baddi and Jammu, which were designated as tax havens. In a recent tweet, CM Mann highlighted that while Punjab’s industrial sector is flourishing with large industries operating and new ones entering the state, the shift of many businesses towards Baddi and Jammu due to favorable tax policies has created challenges for Punjab’s industrial growth.
He emphasized that if Punjab is granted an equal status in terms of tax benefits, the state could further excel in the industrial sector and compete on a level playing field. Mann’s request comes at a time when the state is focusing on enhancing its economic prospects by attracting more industries and creating a robust environment for business growth.
Industrial Exodus to Neighboring Regions
Mann pointed out that when Punjab’s industries were expanding, regions like Baddi and Jammu were given the status of tax havens, which encouraged many industries to relocate. This move negatively impacted Punjab’s industrial sector, as businesses found the tax relief in these neighboring areas more attractive. The Chief Minister stressed that a similar policy for Punjab would prevent further exodus and help the state retain and attract more industries, boosting employment and economic opportunities.
Punjab’s Commitment to Industrial Development
Despite the challenges, Punjab has shown resilience in its industrial growth, with several large industries already operating and new investments flowing in. Mann reaffirmed his government’s commitment to making Punjab a top destination for industrial development. He expressed confidence that, with the right tax policies and support from the central government, Punjab could achieve remarkable success in the industrial sector.
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