The North News
Chandigarh, April 1
Punjab Finance, Planning, Excise, and Taxation Minister Advocate Harpal Singh Cheema announced on Tuesday that the state’s Excise and Taxation Department has achieved a record Excise revenue of Rs 10,743.72 crore for the financial year 2024-25, reflecting a remarkable annual growth of 16.36 percent over the previous fiscal year.
Punjab has reached a significant fiscal milestone, with total revenue collections from VAT, CST, GST, PSDT, and Excise during the financial year 2024-25 surpassing Rs 42,289.97 crore. This marks a 12.47 percent growth, crossing the Rs 40,000 crore threshold for the first time in the state’s history, according to Finance Minister Harpal Singh Cheema.
In a press release, Cheema attributed the growth to the effective excise policies implemented by the Bhagwant Singh Mann-led government. He highlighted that the state’s Excise revenue saw an increase of Rs 598.72 crore, exceeding the target of Rs 10,145 crore for FY 2024-25. Notably, Punjab achieved a remarkable 30.67 percent growth in Excise revenue in March 2025, collecting Rs 1,477.04 crore, compared to Rs 1,130.37 crore in the same month of 2024. This is the first time the state has crossed the five-digit mark in Excise revenue.
The Finance Minister further revealed that the state also saw a 12.99 percent growth in Goods and Services Tax (GST) collections, totalling Rs 23,642.15 crore, up from Rs 20,923.37 crore the previous year. March 2025 alone saw a net GST collection of Rs 1,913.82 crore, an 8.63 percent increase from Rs 1,761.70 crore in March 2024. Meanwhile, the Value Added Tax (VAT) collection reached Rs 7,353.32 crore, up from Rs 6,975.3 crore, reflecting a 5.42 percent growth.
Cheema credited the success to the government’s transparent excise policies and the vigilant enforcement of the Excise and Taxation Department, which has cracked down on liquor smuggling from neighboring states. He also pointed to the department’s efforts in boosting GST compliance, including initiatives such as the “Bill Liayo Inam Pao” scheme and enhanced technological solutions, the Tax Intelligence Unit, and improved enforcement activities.
The Finance Minister explained that the department’s dual approach—supporting honest taxpayers while targeting tax evaders—has helped ensure a fair and transparent taxation system. These measures, he said, have allowed the Mann-led government to present a historic “Badlda Punjab” budget, focused on fostering economic and social development.
Cheema reaffirmed the government’s commitment to sustaining the upward revenue trajectory, assuring that the state would continue introducing new initiatives to improve tax collection without imposing additional burdens on residents.
