CHANDIGARH – Punjab’s Finance Minister Harpal Cheema announced a remarkable achievement on Tuesday, placing the state among the top three in India for revenue growth. This milestone underscores the Aam Aadmi Party (AAP) government’s commitment to structural reforms, fiscal discipline, and administrative transparency over the past four years.
Presenting detailed data to the media, Cheema highlighted a transformative shift in the state’s financial health. ‘Our own tax revenue has surged from ₹37,327 crore in 2021-22, which was 6.39% of the Gross State Domestic Product (GSDP), to an impressive ₹57,919 crore in 2024-25, accounting for 7.15% of GSDP,’ he stated.
The minister spotlighted excise collections, revealing an astounding 86.77% increase in less than four years. Comparing tenures, he noted that the SAD-BJP government’s five-year total stood at ₹20,545 crore (annual average ₹4,109 crore), followed by the Congress regime’s ₹27,395 crore (annual average ₹5,479 crore). In stark contrast, the AAP government has collected ₹37,975 crore by January 2026, boasting an annual average of ₹9,907 crore.
Excise revenue is projected to reach ₹11,500 crore in 2025-26, up from ₹6,157 crore in 2021-22 under Congress rule. As a percentage of GSDP, it has risen from 1.05% to 1.28%.
Turning to GST performance, Cheema criticized the previous Congress government’s over-reliance on compensation, with total collections of ₹61,286 crore over five years (annual average ₹12,257 crore). The AAP administration, however, has amassed ₹83,739 crore by January 2026, pushing the annual average to ₹21,845 crore.
These figures reflect a robust strategy to broaden the tax base and enhance efficiency. Punjab’s fiscal turnaround positions it as a model for other states, with Cheema assuring continued focus on sustainable growth and public welfare.