CHANDIGARH: Celebrating a fiscal triumph, Punjab’s Finance Minister Harpal Cheema declared Tuesday that the state ranks among India’s top three in revenue expansion. The AAP administration’s four-year tenure, marked by structural changes, fiscal prudence, and transparent operations, has driven this upward trajectory.
Detailing the progress to journalists, Cheema showcased data proving enhanced financial stability. Tax revenue from state sources rose sharply from ₹37,327 crore (6.39% of GSDP) in 2021-22 to ₹57,919 crore (7.15%) in 2024-25.
Excise collections exploded by 86.77% in less than four years. Prior regimes lagged: SAD-BJP at ₹4,109 crore annual average; Congress at ₹5,479 crore. AAP smashed records with ₹9,907 crore yearly, reaching ₹37,975 crore by January 2026.
Looking ahead, excise revenue eyes ₹11,500 crore in 2025-26, boosting its GSDP ratio from 1.05% to 1.28%.
Under GST, AAP outperformed Congress’s ₹61,286 crore five-year haul (₹12,257 crore average), which faltered on tax base growth. By January 2026, AAP secured ₹83,739 crore, averaging ₹21,845 crore annually.
Cheema hailed these metrics as evidence of effective governance, promising reinvestment in public services. Punjab’s ascent in revenue rankings heralds a brighter economic future.