Lucknow, Nov. 22 -- Uttar Pradesh is set to bring a merger-demerger policy by amending the Stamp Act to tax corporate restructuring transactions and the proposal is expected to be placed before the state cabinet shortly, officials in the know of things said.

This long-pending reform could not be implemented so far despite attempts since 2016, the officials added.

The policy could generate an additional Rs.2,000 crore annually, significantly contributing to the state's total annual revenue, the officials further said.

The Yogi Adityanath government, according to these officials, has now decided to move ahead decisively. Once cleared, a Bill to amend the Stamp Act will be introduced in the winter session of the assembly.

"A Cabinet note...