PUNJAB SETS NEW EXCISE REVENUE RECORD AT RS 10,743.72 CRORE IN FY 2024-25: HARPAL CHEEMA
STATE SURPASSES RS 40,000 CRORE IN ANNUAL REVENUE FROM VAT, CST, GST, PSDT, AND EXCISE FOR THE FIRST TIME
FINANCE MINISTER HARPAL SINGH CHEEMA CREDITS TRANSPARENT POLICIES AND TAXPAYER-CENTRIC MEASURES FOR SUCCESS
SAYS TAX REVENUE POWERS ‘BADLDA PUNJAB’ BUDGET FOR ECONOMIC AND SOCIAL PROGRESS
COMMITS TO SUSTAINED GROWTH WITHOUT INCREASING TAX BURDEN ON CITIZENS
Chandigarh, April 1:
Punjab’s Finance, Planning, Excise, and Taxation Minister, Advocate Harpal Singh Cheema, announced on Tuesday that the state’s Excise and Taxation Department has achieved an unprecedented Excise revenue of Rs 10,743.72 crore in the financial year 2024-25, reflecting a robust growth rate of 16.36 percent over the previous year. The state’s total revenue from VAT, CST, GST, PSDT, and Excise reached Rs 42,289.97 crore in FY 2024-25, a 12.47 percent increase, crossing the historic Rs 40,000 crore mark for the first time.
In a press statement issued here, Cheema credited the remarkable Excise revenue growth to the effective policies of the Chief Minister Bhagwant Singh Mann-led Punjab Government. He highlighted an additional Rs 598.72 crore in Excise earnings, exceeding the FY 2024-25 target of Rs 10,145 crore. March 2025 alone saw a stellar 30.67 percent surge, with collections rising to Rs 1,477.04 crore from Rs 1,130.37 crore in March 2024, pushing Excise revenue into five-digit territory for the first time.
watch……CM PUSHES FORWARD WITH MISSION ROZGAR, HANDS OVER 55,000+ GOVERNMENT JOBS TO YOUTH
Cheema also detailed a 12.99 percent annual growth in Goods and Services Tax (GST) collections, totaling Rs 23,642.15 crore compared to Rs 20,923.37 crore in the prior fiscal year. In March 2025, GST revenue hit Rs 1,913.82 crore, up 8.63 percent from Rs 1,761.70 crore the previous year. Additionally, Value Added Tax (VAT) collections grew by 5.42 percent to Rs 7,353.32 crore, from Rs 6,975.3 crore in the last fiscal year.
The Finance Minister attributed these milestones to the state’s transparent excise policies and the Excise and Taxation Department’s crackdown on liquor smuggling from neighboring states. Enhanced GST compliance, driven by schemes like “Bill Liayo Inam Pao,” alongside technological advancements such as the Tax Intelligence Unit and robust enforcement, has further bolstered revenue. Cheema emphasized a dual approach: supporting honest taxpayers while targeting evaders to maintain a fair and transparent tax system.
Cheema noted that this revenue surge has empowered the Mann-led government to roll out the transformative “Badlda Punjab” budget, aimed at driving economic and social development. He assured that the state would pursue innovative measures to boost tax revenue without placing additional burdens on citizens.
