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Punjab Ranks Top 3 in Revenue Growth, Says Finance Minister Cheema

Punjab Finance Minister Harpal Cheema announced that the state is now among the top three in revenue growth, attributing this to structural reforms and fiscal discipline. He presented data showing a significant surge in the state's own tax revenue as a percentage of its Gross State Domestic Product. The excise revenue has increased by nearly 87% in less than four years, far exceeding collections from previous administrations. Similarly, GST and stamp duty revenues have also seen historic growth under the current government.

Key Points: Punjab Among Top 3 States in Revenue Growth: Cheema

  • Punjab among top 3 states in revenue growth
  • Excise revenue up 86.77% in under four years
  • GST collections show 70.50% growth
  • Stamp duty revenue sees historic rise
3 min read

Punjab among top three in revenue growth: Minister Cheema ​

Punjab Finance Minister Harpal Cheema reveals state's revenue surge, citing major growth in tax, excise, and GST collections over four years.

"Punjab's own tax revenue has surged significantly... to an impressive Rs 57,919 crore - Harpal Cheema"

Chandigarh, March 3

Punjab Finance Minister Harpal Cheema on Tuesday said the government has emerged among the top three states in terms of revenue growth, asserting that the state's financial performance over the past four years reflects structural reforms, fiscal discipline, and administrative transparency. ​

Cheema presented detailed data to the media here and described it as a decisive turnaround in the state's fiscal health. ​

"Punjab's own tax revenue has surged significantly, rising from Rs 37,327 crore, which was 6.39 per cent of the Gross State Domestic Product in 2021-22, to an impressive Rs 57,919 crore, accounting for 7.15 per cent of the Gross State Domestic Product in 2024-25," he said. ​

Presenting figures on excise collections, the Excise and Taxation Minister said the excise revenue has increased by 86.77 per cent in less than four years. ​

"During the five-year tenure of the SAD-BJP government, the total excise collection was Rs 20,545 crore with an annual average of Rs 4,109 crore. The subsequent Congress government collected Rs 27,395 crore over five years, averaging Rs 5,479 crore annually. In stark contrast, the AAP government has already amassed Rs 37,975 crore up to January 2026, achieving a staggering annual average of Rs 9,907 crore." ​

Furthermore, he said, the excise revenue in 2021-22 under the Congress regime was Rs 6,157 crore, whereas it is expected to reach Rs 11,500 crore in 2025-26. ​

As a percentage of the state's Gross State Domestic Product, excise revenue has grown from 1.05 per cent in 2021-22 to 1.28 per cent in 2024-25. ​

Highlighting performance under the GST (Goods and Services Tax) regime, Minister Cheema said similar success has been recorded in GST collections. ​

"The previous Congress administration relied heavily on GST compensation and failed to take concrete steps to broaden the tax base. Their five-year total stood at Rs 61,286 crore, averaging Rs 12,257 crore annually." ​

He said, however, that the AAP government has collected Rs 83,739 crore up to January 2026, pushing the annual average to Rs 21,845 crore. ​

"The state GST revenue, which was Rs 15,542 crore in 2021-22, is projected to surpass Rs 26,500 crore in 2025-26. Despite the rationalisation under GST 2.0, the state recorded a massive 70.50 per cent growth in its GST revenue." ​

Turning to land and property registrations, he said revenue from stamp duty has also witnessed a historic rise. ​

"During the Congress tenure 2017-22, stamp duty collections saw an increase of less than one per cent compared to the preceding Akali Dal government 2012-17. The SAD-BJP government collected Rs 12,387 crore, averaging Rs 2,477 crore annually, while the Congress managed only Rs 12,469 crore, averaging Rs 2,494 crore annually," he added. ​

- IANS

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Reader Comments

S
Sarah B
The data on excise revenue is staggering. An 86% increase? While it's good for state coffers, I hope the government is also investing heavily in de-addiction programs and public health. Revenue from alcohol is a double-edged sword.
A
Arjun K
Waah! These are impressive figures, no doubt. But minister sahab, we common people want to see this growth in our daily lives. Reduce the VAT on petrol and diesel in Punjab, it's still the highest in North India. Let the aam aadmi feel this "turnaround".
P
Priyanka N
As a small business owner in Ludhiana, I have seen the GST process become much smoother in the last few years. Less harassment, more online. If the tax base is broadening because more businesses are coming into the formal economy, that's a very healthy sign for Punjab's future.
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Michael C
Interesting to see the direct comparison between the three governments. The data speaks for itself. However, I'd like to see an independent audit or CAG report for full transparency. Political claims around budgets need to be backed by non-partisan verification.
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Kavya N
The increase in stamp duty revenue suggests more property transactions. Is this due to actual development and investment, or just inflation in land prices? Need to understand the quality of this growth. But overall, changa hai ji! Punjab needs this positive momentum.

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