Chandigarh, March 26, 2025 (Yes Punjab News)
In a landmark move to combat illegal mining, the Punjab Cabinet, led by Chief Minister Bhagwant Singh Mann, has approved the Punjab Regulation of Crusher Units Act 2025. This decision was finalized during a Council of Ministers meeting held at the Chief Minister’s official residence on Wednesday.
The new law will be introduced in the ongoing Punjab State Assembly session and is aimed at regulating crusher units and screening plants engaged in processing sand and gravel. By streamlining operations, the law is expected to curb unauthorized mining activities and promote legal mining, ensuring greater transparency and accountability in the sector.
Amendment to the Indian Stamp Act, 1899 to Foster Business Growth
In another significant development, the Punjab Cabinet has approved amendments to the Indian Stamp Act, 1899, designed to create a business-friendly environment and enhance economic growth in the state.
The amendment states that if stamp duty has already been paid on a loan and the borrower transfers the loan to another bank or financial institution without altering the mortgaged property, no additional stamp duty will be charged. However, if the new loan amount exceeds the previous loan, stamp duty will be applied only to the excess amount.
This reform aims to reduce financial burdens on businesses, facilitate easy loan transfers, and encourage investment in Punjab’s economy.
