Chandigarh, March 3: Punjab’s Finance Minister Harpal Cheema announced on Tuesday that the state has secured a position among the top three states in terms of revenue growth. He highlighted that the financial performance of the state over the past four years reflects significant structural reforms, fiscal discipline, and administrative transparency.
Cheema presented detailed data to the media, describing it as a major shift in the state’s financial health. He stated, “Punjab’s tax revenue has seen a substantial increase, rising from ₹37,327 crores in 2021-22, which accounted for 6.39% of the Gross State Domestic Product (GSDP), to ₹57,919 crores in 2024-25, representing 7.15% of the GSDP.”
While presenting excise collection figures, the Excise and Taxation Minister noted an impressive 86.77% increase in excise revenue in less than four years. “During the five-year term of the SAD-BJP government, the total excise collection was ₹20,545 crores, averaging ₹4,109 crores annually. In contrast, the Congress government collected ₹27,395 crores over five years, averaging ₹5,479 crores annually. Meanwhile, the AAP government has amassed ₹37,975 crores by January 2026, achieving a remarkable annual average of ₹9,907 crores.”
Additionally, he mentioned that during the Congress regime, excise revenue was ₹6,157 crores in 2021-22, with expectations to reach ₹11,500 crores by 2025-26. As a percentage of the state’s GSDP, excise revenue increased from 1.05% in 2021-22 to 1.28% in 2024-25.
Highlighting the performance under the Goods and Services Tax (GST) system, Minister Cheema noted similar success in GST collections. “The previous Congress government relied heavily on GST compensation and failed to take solid steps to expand the tax base. Their total collection over five years was ₹61,286 crores, averaging ₹12,257 crores annually.” In contrast, he stated that the AAP government has collected ₹83,739 crores by January 2026, resulting in an annual average of ₹21,845 crores.
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S.C.H.
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