CHANDIGARH: The Government of India has sanctioned interest free loan of Rs. 2.5 crore under the Centrally Sponsored Scheme "Upgradation of 1396 Government ITIs through Public Private Partnership".

Under this scheme, the Government Central Crafts Institute for Women, Sector 11, Chandigarh, will be upgraded and for this purpose, the Institute Management Committee with Partap Aggarwal, Chairman, Confederation of Indian Industry (CII), Chandigarh, as Chairman has been notified by the Administration.

This Committee has four nominees of the Chairman as Members apart form non official members. At state Level, a State Steering Committee under the Chairmanship of the Home Secretary-cum-secretary Technical Education has also been notified.

The Institute Management committee will be delegated adequate financial and academic powers and this amount of 2.5 crore will be utilized by the Institute Management Committee for the upgradation of the Institute. The interest free loan in to be repaid after a period of ten years within the next twenty years

Transport Minister Master Mohan Lal, Principal Secretary, Transport Punjab, D.S. Jaspal and State Transport Commissioner, Punjab R. Venkatratnam said that the transport department was an important revenue earner for the State.

Venkatratnam disclosed that the reduction in taxes had in fact improved tax compliance. Giving details the STC said that during the period 01.04.2007 to 28.02.2008 the revenue realization was 430 crores against Rs. 409 crores during the corresponding period last year.

The STC assured that during the current financial year the revenue receipts of the transport department would exceed.