98. With the inception of the New Companies Act, 2013, it is now mandatory for
some Companies to spend 2{8c6d3f6704cdb4d22004dc79684d70f0271dd82fcfbe654786cb18f09b659ded} of the average net profit of the previous 3 financial years
on a range of activities aimed at maximizing social welfare under Corporate Social
Responsibility (CSR).
99. However, most of these activities carried out in the past under this mandate have
failed to leave any substantial impact due to lack of synergy between the efforts of
private sector and the priorities of the Government. We propose to set up a Punjab
Corporate Social Responsibility Authority (PCSRA) to create a sustainable mechanism
to channelize the CSR contributions from various Government PSUs as well as Private
Sector Companies for optimum utilization of the CSR Fund through its convergence with
the sectoral priorities of the government.

100. The Real Estate sector is a vital part of the state’s economy and provides
employment to a large number of people. Real estate sector is all the more important
in a rapidly urbanizing state such as ours, which is seeing un-regulated growth. The last
10 years have been very bad for the real estate industry in Punjab. The slowdown in
real estate has had an adverse impact on the economy as a whole. People have high
expectations of the government of Hon’ble Captain Amarinder Singh Ji. Our government
is committed to remove obstacles in the growth of this sector and fulfill the basic need of
the people of Punjab for affordable housing.
101. This government, in an attempt to revive and boost the real estate sector and
provide a house to the houseless in the state, has already taken a number of initiatives.
102. The fees charged for transfer of ownership of plots/houses has been reduced
from 2.5{8c6d3f6704cdb4d22004dc79684d70f0271dd82fcfbe654786cb18f09b659ded} to 2{8c6d3f6704cdb4d22004dc79684d70f0271dd82fcfbe654786cb18f09b659ded}. Over a year’s moratorium has been allowed on payment of
`574.40 crore recoverable from the promoters of colonies in the state as External
Development Charges (EDC). The annual increase in various charges has also been
deferred for 3 years.
103. As a major step to boost this sector, I propose to reduce the stamp duty on
registration of property in urban areas by a massive 3{8c6d3f6704cdb4d22004dc79684d70f0271dd82fcfbe654786cb18f09b659ded} from the existing 9{8c6d3f6704cdb4d22004dc79684d70f0271dd82fcfbe654786cb18f09b659ded} to 6{8c6d3f6704cdb4d22004dc79684d70f0271dd82fcfbe654786cb18f09b659ded}.
This measure will remain in place till 31-3-2018 and will be reviewed thereafter based
on its impact on the sector.

104. Our government is committed to providing free built-up houses to houseless
poor urban SC/BC families in the state. Construction of 2000 houses for eligible
families would be taken up during the year 2017-18. Land for construction of such
houses shall be made available free of cost by the state government. I have made an
initial provision of `25 crore for this scheme in urban areas. A similar allocation of `25
crore has been made for providing houses to the houseless rural poor as well. This
Government has also increased the reservation for Scheduled Castes from 15{8c6d3f6704cdb4d22004dc79684d70f0271dd82fcfbe654786cb18f09b659ded} to 30{8c6d3f6704cdb4d22004dc79684d70f0271dd82fcfbe654786cb18f09b659ded}
in all government schemes pertaining to the allotment of plots/houses in the state.


105. Our Government will take up the development of new residential urban
estates and industrial estates at various places in the state, including
Hoshiarpur, Jalandhar, Amritsar and Ludhiana, even as it expedites ongoing projects.
An amount of `2020 crore will be spent on various development works in the state
including OUVGL works and development of Urban Estates by the PUDA & other
development authorities.

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