Chandigarh: Deputy Chief Minister Sukhbir Singh Badal on Sunday said the VAT collections in Punjab had more than doubled in the past five years and was likely to touch Rs 16,000 crore in 2013. Honouring "Achievers of North India" at a function in Chandigarh, he announced his government would honour 635 top VAT payers who were "virtually" sustaining the economy of Punjab.
Badal said similar functions would also be organised at district levels to honour tax payers. He said VAT collections in Punjab had more than doubled in the last five years and was likely to touch Rs 16,000 crore in 2013. Promising total transformation of the state in the next three years, Badal invited investors to set up ventures in the state. He said apart from linking all cities with 4-6 lane roads at an estimated cost of Rs 12000 crore, the dream of making Punjab power surplus would be realised by December 2013.
Badal said an online portal, in which investors sitting in any corner of the world could fulfil all formalities, would be launched in the state within 15-20 days. He said the new investment policy would encompass all types of investment in the state.