Kapurthala, Oct 25 (UNI) Punjab Finance Minister Manpreet Singh Badal today said there was a hike of 40 per cent in direct taxes and 20 per cent increase in indirect taxes this year as compared to last year.
The Finance Minister told reporters here that global economic recession would have its bearing on the economy of the state but the efforts were on to combat the negative impact.
Replying to a question regarding the implementation of Punjab Pay Commission report, Mr Badal said day-to-day sittings were being held and the report would come up in January, next year.
Earlier, Mr Badal, who was here to preside over the 47th annual day function of Sainik School Kapurthala, said in his address that he was dismayed over the decline in the recruitment of officers in the Army from Punjab.
He announced a grant of Rs 50 lakhs for the development of the school and also announced rupees two lakhs for the school library.
He also gave away the prizes to the meritorious students who had excelled in the field of education, sports and cultural activities.
Mr Manpreet Badal also inaugurated a science and environment exhibition in the school.
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