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
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor